Cisco Systems, Inc. (NASDAQ:CSCO)’s share price gapped up prior to trading on Monday after Citigroup raised their price target on the stock from $40.00 to $46.00. The stock had previously closed at $38.55, but opened at $39.53. Citigroup currently has a buy rating on the stock. Cisco Systems shares last traded at $40.60, with a volume of 38095480 shares changing hands.

Other equities analysts also recently issued research reports about the company. Jefferies Group upped their price objective on Cisco Systems to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 16th. Oppenheimer reiterated a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Friday, October 20th. Royal Bank of Canada reiterated a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Wednesday, November 15th. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $35.49 price objective on the stock in a research note on Monday, November 13th. Finally, Robert W. Baird reissued a “buy” rating and set a $38.00 target price on shares of Cisco Systems in a report on Friday, November 10th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $40.38.

In other Cisco Systems news, Director Roderick C. Mcgeary sold 15,230 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the completion of the sale, the director now directly owns 113,154 shares in the company, valued at $4,299,852. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Karen Walker sold 5,786 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $211,131.14. Following the sale, the senior vice president now owns 176,418 shares of the company’s stock, valued at $6,437,492.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 348,643 shares of company stock valued at $12,892,271. Company insiders own 0.05% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Richard Bernstein Advisors LLC boosted its holdings in shares of Cisco Systems by 21.2% during the second quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after purchasing an additional 47,211 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of Cisco Systems by 10.4% during the second quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock worth $4,789,000 after purchasing an additional 14,395 shares during the period. Eads & Heald Investment Counsel boosted its holdings in shares of Cisco Systems by 15.7% during the second quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock worth $1,329,000 after purchasing an additional 5,765 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of Cisco Systems by 0.4% during the third quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock worth $84,648,000 after purchasing an additional 10,265 shares during the period. Finally, Aviva PLC boosted its holdings in shares of Cisco Systems by 6.5% during the second quarter. Aviva PLC now owns 4,769,809 shares of the network equipment provider’s stock worth $149,343,000 after purchasing an additional 289,899 shares during the period. Institutional investors and hedge funds own 75.42% of the company’s stock.

The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. The company has a market capitalization of $203,830.00, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 3.55 and a beta of 1.23.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. Cisco Systems’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. equities research analysts predict that Cisco Systems, Inc. will post 2.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.81%. Cisco Systems’s dividend payout ratio is currently 60.10%.

TRADEMARK VIOLATION WARNING: “Cisco Systems (CSCO) Shares Gap Up Following Analyst Upgrade” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2018/02/14/cisco-systems-csco-shares-gap-up-following-analyst-upgrade.html.

Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.