Cisco Systems (NASDAQ:CSCO) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Cisco Systems (NASDAQ:CSCO) had its price target boosted by Wells Fargo & Company from $57.00 to $60.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the network equipment provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 4.42% from the stock’s previous close.

Several other research firms have also commented on CSCO. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Morgan Stanley lifted their target price on shares of Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday. Rosenblatt Securities increased their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Piper Sandler lifted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Jefferies Financial Group decreased their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $59.42.

Cisco Systems Trading Down 0.8 %

NASDAQ CSCO opened at $57.46 on Thursday. The firm’s fifty day moving average price is $54.18 and its 200 day moving average price is $49.76. Cisco Systems has a 12 month low of $44.50 and a 12 month high of $59.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company has a market capitalization of $229.31 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. On average, sell-side analysts expect that Cisco Systems will post 2.89 earnings per share for the current fiscal year.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the sale, the chief financial officer now directly owns 293,184 shares in the company, valued at $14,659,200. This trade represents a 7.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,924 shares of company stock worth $1,798,131 over the last 90 days. Company insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in shares of Cisco Systems by 226.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after purchasing an additional 18,339 shares during the last quarter. M&G Plc purchased a new stake in Cisco Systems in the 1st quarter valued at approximately $46,071,000. Mizuho Markets Americas LLC grew its holdings in Cisco Systems by 90.0% during the 1st quarter. Mizuho Markets Americas LLC now owns 650,818 shares of the network equipment provider’s stock valued at $32,482,000 after buying an additional 308,300 shares during the last quarter. Councilmark Asset Management LLC purchased a new position in Cisco Systems during the first quarter worth $2,200,000. Finally, Te Ahumairangi Investment Management Ltd raised its holdings in shares of Cisco Systems by 4.8% in the first quarter. Te Ahumairangi Investment Management Ltd now owns 178,218 shares of the network equipment provider’s stock worth $8,895,000 after acquiring an additional 8,210 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.