Cisco Systems (CSCO) Upgraded by Vetr to “Strong-Buy”
Cisco Systems (NASDAQ:CSCO) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Monday. The brokerage presently has a $44.13 target price on the network equipment provider’s stock. Vetr‘s price objective indicates a potential upside of 7.03% from the company’s previous close.
A number of other analysts also recently issued reports on CSCO. Goldman Sachs Group assumed coverage on Cisco Systems in a research report on Wednesday, February 7th. They issued a “buy” rating and a $48.00 target price on the stock. Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. ValuEngine raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Loop Capital assumed coverage on Cisco Systems in a research report on Monday, January 29th. They issued a “hold” rating and a $45.00 target price on the stock. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $43.00 target price (up previously from $39.00) on shares of Cisco Systems in a research report on Friday, January 19th. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $40.38.
Shares of Cisco Systems (NASDAQ CSCO) opened at $41.23 on Monday. The company has a market capitalization of $203,830.00, a PE ratio of 21.36, a PEG ratio of 3.55 and a beta of 1.23. Cisco Systems has a twelve month low of $30.36 and a twelve month high of $42.98. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39.
In other 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 transaction of $95,092.94. Following the completion of the sale, the chief accounting officer now owns 89,184 shares in the company, valued at $3,254,324.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Roderick C. Mcgeary sold 15,230 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.00, for a total value of $578,740.00. Following the sale, the director now owns 113,154 shares of the company’s stock, valued at approximately $4,299,852. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 348,643 shares of company stock valued at $12,892,271. Corporate insiders own 0.05% of the company’s stock.
Several hedge funds have recently modified their holdings of CSCO. Bank of New York Mellon Corp boosted its stake in shares of Cisco Systems by 12.8% in the fourth quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock valued at $4,709,302,000 after buying an additional 13,927,416 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Cisco Systems by 23.6% in the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after buying an additional 11,972,070 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Cisco Systems by 91.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 19,498,882 shares of the network equipment provider’s stock valued at $746,806,000 after buying an additional 9,292,187 shares during the period. Stifel Financial Corp lifted its stake in Cisco Systems by 6,109.5% during the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock worth $273,977,000 after purchasing an additional 8,016,561 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after purchasing an additional 7,411,891 shares during the last quarter. Institutional investors and hedge funds own 75.42% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This story was reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://theolympiareport.com/2018/02/14/cisco-systems-csco-upgraded-by-vetr-to-strong-buy.html.
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).
To view Vetr’s full report, visit Vetr’s official website.
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.