Cisco Systems (CSCO) : Pacer Advisors scooped up 3,185 additional shares in Cisco Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 160,550 shares of Cisco Systems which is valued at $4.3 Million.Cisco Systems makes up approximately 0.94% of Pacer Advisors’s portfolio.
Other Hedge Funds, Including , Hutchens Investment Management Inc boosted its stake in CSCO in the latest quarter, The investment management firm added 15,100 additional shares and now holds a total of 82,095 shares of Cisco Systems which is valued at $2.2 Million. Cisco Systems makes up approx 2.21% of Hutchens Investment Management Inc’s portfolio.Baird Financial Group boosted its stake in CSCO in the latest quarter, The investment management firm added 907,309 additional shares and now holds a total of 3,112,776 shares of Cisco Systems which is valued at $82.6 Million. Cisco Systems makes up approx 0.80% of Baird Financial Group’s portfolio.Eulav Asset Management reduced its stake in CSCO by selling 2,000 shares or 2.22% in the most recent quarter. The Hedge Fund company now holds 88,000 shares of CSCO which is valued at $2.3 Million. Cisco Systems makes up approx 0.13% of Eulav Asset Management’s portfolio.Moors Cabot boosted its stake in CSCO in the latest quarter, The investment management firm added 3,219 additional shares and now holds a total of 34,923 shares of Cisco Systems which is valued at $926,507. Cisco Systems makes up approx 0.17% of Moors Cabot’s portfolio.
Cisco Systems opened for trading at $28.58 and hit $29 on the upside on Wednesday, eventually ending the session at $28.92, with a gain of 1.58% or 0.45 points. The heightened volatility saw the trading volume jump to 2,57,29,608 shares. Company has a market cap of $145,529 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. 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 .Company shares were Reiterated by Barclays on May 19, 2016 to “Overweight”, Firm has raised the Price Target to $ 31 from a previous price target of $29 .
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.