Cisco Systems (NASDAQ:CSCO) Upgraded by Deutsche Bank Aktiengesellschaft to "Buy" Rating

Cisco Systems (NASDAQ:CSCO - Get Free Report) was upgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a "hold" rating to a "buy" rating in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $73.00 price objective on the network equipment provider's stock, up from their previous price objective of $65.00. Deutsche Bank Aktiengesellschaft's target price would indicate a potential upside of 11.43% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on the company. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Rosenblatt Securities upped their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. New Street Research reiterated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Piper Sandler increased their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and an average price target of $69.11.

Cisco Systems Stock Up 2.2%

Shares of Cisco Systems stock traded up $1.42 on Monday, reaching $65.51. 16,881,288 shares of the company were exchanged, compared to its average volume of 20,148,661. Cisco Systems has a one year low of $44.50 and a one year high of $66.50. The company has a market capitalization of $259.42 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 4.16 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $60.47 and a 200 day moving average of $60.58.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the prior year, the business posted $0.88 EPS. The business's revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that Cisco Systems will post 3.04 earnings per share for the current year.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider now directly owns 255,377 shares of the company's stock, valued at $16,413,079.79. This represents a 0.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now directly owns 688,409 shares in the company, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,931 shares of company stock valued at $4,671,930 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Cisco Systems

Several large investors have recently modified their holdings of the stock. Compass Financial Services Inc grew its holdings in shares of Cisco Systems by 298.3% during the 1st quarter. Compass Financial Services Inc now owns 709 shares of the network equipment provider's stock worth $44,000 after purchasing an additional 531 shares in the last quarter. Birchbrook Inc. grew its holdings in shares of Cisco Systems by 6.3% during the 1st quarter. Birchbrook Inc. now owns 2,964 shares of the network equipment provider's stock worth $183,000 after purchasing an additional 176 shares in the last quarter. Asset Planning Services Inc. LA ADV grew its holdings in shares of Cisco Systems by 0.3% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 108,752 shares of the network equipment provider's stock worth $6,711,000 after purchasing an additional 300 shares in the last quarter. eCIO Inc. acquired a new stake in shares of Cisco Systems during the 1st quarter worth $37,000. Finally, First Hawaiian Bank grew its holdings in shares of Cisco Systems by 3.4% during the 1st quarter. First Hawaiian Bank now owns 42,731 shares of the network equipment provider's stock worth $2,637,000 after purchasing an additional 1,403 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Company Profile

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.