Cisco Systems, Inc. (NASDAQ:CSCO) EVP Jeffery S. Sharritts Sells 14,830 Shares

Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) EVP Jeffery S. Sharritts sold 14,830 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $47.80, for a total transaction of $708,874.00. Following the completion of the sale, the executive vice president now owns 277,751 shares of the company’s stock, valued at approximately $13,276,497.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $48.57 on Thursday. The stock has a market cap of $199.57 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.31 and a beta of 1.00. Cisco Systems, Inc. has a 52 week low of $38.60 and a 52 week high of $64.29. The company’s 50-day moving average price is $43.06 and its 200 day moving average price is $44.32. The company has a current ratio of 1.45, a quick ratio of 1.34 and a debt-to-equity ratio of 0.19.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $13.63 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Cisco Systems had a net margin of 22.00% and a return on equity of 31.68%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 EPS. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler upped their price target on shares of Cisco Systems from $43.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. Oppenheimer restated an “outperform” rating and set a $50.00 price objective on shares of Cisco Systems in a research report on Friday, November 18th. UBS Group upped their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Raymond James cut their price objective on shares of Cisco Systems from $63.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, August 18th. Finally, The Goldman Sachs Group upped their price objective on shares of Cisco Systems from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $53.63.

Institutional Investors Weigh In On Cisco Systems

Several hedge funds have recently modified their holdings of CSCO. Vanguard Group Inc. boosted its stake in shares of Cisco Systems by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock worth $20,568,578,000 after purchasing an additional 30,181,146 shares during the last quarter. Great West Life Assurance Co. Can acquired a new stake in shares of Cisco Systems during the 3rd quarter worth about $246,529,000. Renaissance Technologies LLC boosted its stake in shares of Cisco Systems by 4,090.1% during the 2nd quarter. Renaissance Technologies LLC now owns 5,359,105 shares of the network equipment provider’s stock worth $228,512,000 after purchasing an additional 5,231,205 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Cisco Systems by 3,370.0% during the 2nd quarter. Federated Hermes Inc. now owns 5,371,625 shares of the network equipment provider’s stock worth $229,047,000 after purchasing an additional 5,216,825 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Cisco Systems by 265.5% during the 3rd quarter. National Bank of Canada FI now owns 6,320,850 shares of the network equipment provider’s stock worth $253,082,000 after purchasing an additional 4,591,715 shares during the last quarter. 71.71% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Company Profile

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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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; 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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Insider Buying and Selling by Quarter for Cisco Systems (NASDAQ:CSCO)

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