William Blair Reaffirms Outperform Rating for Cisco Systems (CSCO)
Cisco Systems (NASDAQ:CSCO)‘s stock had its “outperform” rating reissued by analysts at William Blair in a note issued to investors on Thursday.
Several other research firms also recently issued reports on CSCO. Royal Bank of Canada restated a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a report on Wednesday, November 15th. BidaskClub raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Vetr raised Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $44.13 target price on the stock in a research note on Monday, February 5th. KeyCorp set a $49.00 target price on Cisco Systems and gave the company a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets lifted their target price on Cisco Systems to $43.00 and gave the company a “market perform” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.41.
Shares of Cisco Systems (NASDAQ CSCO) opened at $42.09 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. The stock has a market capitalization of $208,080.00, a PE ratio of -131.53, a price-to-earnings-growth ratio of 3.71 and a beta of 1.23. Cisco Systems has a twelve month low of $30.36 and a twelve month high of $42.98.
In related news, CAO Prat Bhatt sold 2,606 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $95,092.94. Following the completion of the sale, the chief accounting officer now directly owns 89,184 shares in the company, valued at approximately $3,254,324.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the completion of the sale, the senior vice president now owns 257,476 shares of the company’s stock, valued at $9,892,227.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 348,643 shares of company stock valued at $12,892,271. Corporate insiders own 0.05% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Cisco Systems during the second quarter worth approximately $231,000. IFG Advisory LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $2,375,000. Stonehearth Capital Management LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $102,000. Keeler Thomas Management LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $108,000. Finally, Goodman Financial Corp acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $115,000. Hedge funds and other institutional investors own 75.42% of the company’s stock.
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About Cisco Systems
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).
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