Cisco Systems (NASDAQ:CSCO) Stock Price Expected to Rise, Piper Sandler Analyst Says

Cisco Systems (NASDAQ:CSCO) had its target price hoisted by Piper Sandler from $52.00 to $57.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the network equipment provider’s stock.

CSCO has been the topic of a number of other research reports. Barclays reduced their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Jefferies Financial Group decreased their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.42.

Cisco Systems Trading Down 0.9 %

Shares of Cisco Systems stock traded down $0.53 on Thursday, reaching $57.39. 16,882,091 shares of the company were exchanged, compared to its average volume of 19,089,469. Cisco Systems has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The stock has a fifty day moving average price of $54.00 and a 200-day moving average price of $49.69. The firm has a market capitalization of $229.03 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

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

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.79%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This represents a 6.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 22,309 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the sale, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at approximately $14,659,200. The trade was a 7.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,924 shares of company stock valued at $1,798,131. Corporate insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

Hedge funds have recently made changes to their positions in the company. Aviso Wealth Management raised its position in shares of Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after purchasing an additional 181 shares during the period. Waypoint Capital Advisors LLC boosted its holdings in shares of Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after acquiring an additional 182 shares during the period. Andina Capital Management LLC grew its position in shares of Cisco Systems by 3.6% during the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock worth $279,000 after acquiring an additional 182 shares during the last quarter. Wealth Dimensions Group Ltd. increased its holdings in shares of Cisco Systems by 1.6% in the 3rd quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider’s stock worth $605,000 after acquiring an additional 182 shares during the period. Finally, Meridian Financial Partners LLC lifted its position in Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds 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.