UBS Group Issues Positive Forecast for Cisco Systems (NASDAQ:CSCO) Stock Price

Cisco Systems (NASDAQ:CSCO) had its price target boosted by equities researchers at UBS Group from $55.00 to $62.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the network equipment provider’s stock. UBS Group’s target price points to a potential upside of 7.90% from the stock’s previous close.

A number of other brokerages have also commented on CSCO. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. 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. Finally, Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $52.00 to $62.00 in a research note on Wednesday, October 16th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $59.42.

Cisco Systems Trading Down 0.8 %

Cisco Systems stock opened at $57.46 on Thursday. Cisco Systems has a 52 week low of $44.50 and a 52 week high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm has a market capitalization of $229.31 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 4.90 and a beta of 0.83. The company has a 50 day moving average price of $54.18 and a 200 day moving average price of $49.76.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. Research analysts forecast that Cisco Systems will post 2.89 EPS for the current year.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. The trade was a 6.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the transaction, 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. In the last three months, insiders sold 35,924 shares of company stock valued at $1,798,131. Company insiders own 0.01% of the company’s stock.

Institutional Trading of Cisco Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new stake in Cisco Systems during the second quarter worth about $25,000. Quarry LP raised its stake in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC boosted its stake in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in Cisco Systems in the 2nd quarter valued at $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems in the 3rd quarter valued at $40,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

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.