Cisco Systems, Inc. (CSCO) Files Form 4 Insider Selling : Pankaj Patel Sells 9,891 Shares

Cisco Systems, Inc. (CSCO): Pankaj Patel , EVP, Chief Development Officer of Cisco Systems, Inc. sold 9,891 shares on Jun 23, 2016. The Insider selling transaction was reported by the company on Jun 24, 2016 to the Securities and Exchange Commission. The shares were sold at $29.03 per share for a total value of $287,138.53 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Jun 22, 2016, Pankaj Patel (EVP, Chief Development Officer) sold 49,387 shares at $28.94 per share price.On Jun 16, 2016, Karen Walker (SVP & Chief Marketing Officer) sold 7,802 shares at $28.50 per share price.Also, On Jun 3, 2016, Rebecca Jacoby (SVP & Chief of Operations) sold 90,000 shares at $28.97 per share price.On May 27, 2016, John T Chambers (Executive Chairman) sold 541,667 shares at $28.94 per share price.

Shares of Cisco Systems (CSCO) ended Friday, Jun 24, 2016 session in red amid volatile trading. The shares closed down -1.47 points or -5.03% at $27.75 with 4,44,08,897 shares getting traded. Post opening the session at $28.16, the shares hit an intraday low of $27.7 and an intraday high of $28.57 and the price vacillated in this range throughout the day. The company has a market cap of $139,575 M and the number of outstanding shares has been calculated to be 5,02,97,12,000 shares. The 52-week high of Cisco Systems is $29.49 and the 52-week low is $22.46.

Cisco Systems Money Flow Index Chart

On Jun 6, 2016, Cisco Systems announced a cash dividend of $0.2600. The company’s management has announced Jul 5, 2016 as the ex-dividend date and fixed the record date on Jul 7, 2016. The payable date has been fixed on Jul 27, 2016.

Company has been under the radar of several Street Analysts.Cisco Systems is Downgraded by Goldman to Neutral. Earlier the firm had a rating of Buy on the company shares. The Rating was issued on Jun 15, 2016.Cisco Systems is Reiterated by RBC Capital Mkts to Outperform and the brokerage firm has raised the Price Target to $ 33 from a previous price target of $31 .The Rating was issued on May 19, 2016.Cisco Systems is Reiterated by Wunderlich to Hold and the brokerage firm has raised the Price Target to $ 27 from a previous price target of $24 .The Rating was issued on May 19, 2016.Cisco Systems is Reiterated by Barclays to Overweight and the brokerage firm has raised the Price Target to $ 31 from a previous price target of $29 .The Rating was issued on May 19, 2016.Cisco Systems is Upgraded by JP Morgan to Neutral and the brokerage firm has raised the Price Target to $ 27.50 from a previous price target of $17 .Earlier the firm had a rating of Underweight on the company shares. The Rating was issued on Apr 6, 2016.

Cisco System Inc. (Cisco) designs and sells lines of products provides services and delivers integrated solutions to develop and connect networks around the world building the Internet. The Company is engaged in designing manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provides services associated with these products and their use. The Company operates its business through three segments: The Americas; Europe Middle East and Africa (EMEA) and Asia Pacific Japan and China (APJC). It groups its products and technologies into the various categories such as Switching Next-Generation Network (NGN) Routing Collaboration Service Provider Video Data Center Wireless Security and Other Products. In addition to its product offerings it provides a range of service offerings including technical support services and advanced services.

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