Cisco Systems, Inc. (NASDAQ:CSCO – Get Free Report) saw unusually large options trading on Thursday. Stock traders purchased 245,742 call options on the stock. This represents an increase of approximately 443% compared to the typical daily volume of 45,258 call options.
Cisco Systems Price Performance
CSCO stock opened at $58.86 on Friday. The stock has a market capitalization of $234.43 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 4.37 and a beta of 0.85. The stock’s fifty day simple moving average is $58.24 and its 200-day simple moving average is $52.58. Cisco Systems has a 52-week low of $44.50 and a 52-week high of $60.23. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. Equities research analysts expect that Cisco Systems will post 2.97 EPS for the current year.
Cisco Systems Announces Dividend
Insiders Place Their Bets
In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now directly owns 65,915 shares in the company, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares of the company’s stock, valued at $21,001,901.86. This represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% of the company’s stock.
Hedge Funds Weigh In On Cisco Systems
A number of hedge funds have recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Cisco Systems by 59.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after purchasing an additional 288,775 shares during the period. Morse Asset Management Inc purchased a new stake in Cisco Systems during the third quarter worth approximately $798,000. Citizens Financial Group Inc. RI grew its stake in Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after buying an additional 51,924 shares during the period. HighVista Strategies LLC purchased a new position in shares of Cisco Systems in the 3rd quarter valued at $1,698,000. Finally, Commerzbank Aktiengesellschaft FI raised its stake in shares of Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after acquiring an additional 162,544 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on CSCO. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Morgan Stanley raised their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Evercore ISI raised their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Bank of America upped their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.
View Our Latest Stock Analysis on CSCO
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.
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