New Century Advisors buys $2,928,228 stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : New Century Advisors scooped up 89,000 additional shares in Cisco Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 18, 2016. The investment management firm now holds a total of 95,600 shares of Cisco Systems which is valued at $2,928,228.Cisco Systems makes up approximately 3.91% of New Century Advisors’s portfolio.

Other Hedge Funds, Including , Iab Financial Bank reduced its stake in CSCO by selling 634 shares or 3.24% in the most recent quarter. The Hedge Fund company now holds 18,955 shares of CSCO which is valued at $580,592. Cisco Systems makes up approx 0.36% of Iab Financial Bank’s portfolio.Boys Arnold Co Inc boosted its stake in CSCO in the latest quarter, The investment management firm added 46,624 additional shares and now holds a total of 68,440 shares of Cisco Systems which is valued at $2,047,040. Cisco Systems makes up approx 0.34% of Boys Arnold Co Inc’s portfolio.First United Bank Trust reduced its stake in CSCO by selling 367 shares or 1.09% in the most recent quarter. The Hedge Fund company now holds 33,395 shares of CSCO which is valued at $993,501. Cisco Systems makes up approx 0.84% of First United Bank Trust’s portfolio. First Western Capital Management Co added CSCO to its portfolio by purchasing 56,100 company shares during the most recent quarter which is valued at $1,668,975. Cisco Systems makes up approx 0.59% of First Western Capital Management Co’s portfolio.Abner Herrman Brock boosted its stake in CSCO in the latest quarter, The investment management firm added 3,005 additional shares and now holds a total of 44,634 shares of Cisco Systems which is valued at $1,327,862. Cisco Systems makes up approx 0.31% of Abner Herrman Brock’s portfolio.

Cisco Systems opened for trading at $30.04 and hit $30.69 on the upside on Wednesday, eventually ending the session at $30.63, with a gain of 2.37% or 0.71 points. The heightened volatility saw the trading volume jump to 5,01,68,804 shares. Company has a market cap of $154,060 M.

On the company’s financial health, Cisco Systems reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.55. The company had revenue of $12000.00 million for the quarter, compared to analysts expectations of $11951.58 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.

Many Wall Street Analysts have commented on Cisco Systems. Cisco Systems was Downgraded by Goldman to ” Neutral” on Jun 15, 2016. Company shares were Reiterated by RBC Capital Mkts on May 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $31 .Company shares were Reiterated by Wunderlich on May 19, 2016 to “Hold”, Firm has raised the Price Target to $ 27 from a previous price target of $24 .

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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