Connors Investor Services INC Cut Its Position in Cisco Systems (CSCO) as Valuation Declined

July 14, 2018 - By Ann Prendergast

Cisco Systems, Inc. (NASDAQ:CSCO) LogoInvestors sentiment decreased to 0.73 in 2018 Q1. Its down 0.30, from 1.03 in 2017Q4. It turned negative, as 66 investors sold CSCO shares while 798 reduced holdings. 170 funds opened positions while 464 raised stakes. 3.40 billion shares or 4.18% less from 3.54 billion shares in 2017Q4 were reported. Riggs Asset Managment Commerce Inc invested in 0.08% or 4,601 shares. Blue Capital Inc owns 22,373 shares or 0.54% of their US portfolio. 308,300 are owned by Tctc Holdings Limited Liability Company. Geode Mgmt Ltd owns 60.27M shares for 0.84% of their portfolio. Panagora Asset Management holds 0.31% or 1.85M shares in its portfolio. Filament Limited Com invested 0.1% of its portfolio in Cisco Systems, Inc. (NASDAQ:CSCO). Mutual Of America Capital Management Ltd Liability owns 762,548 shares for 0.51% of their portfolio. Bancorporation Of America Corporation De has 0.74% invested in Cisco Systems, Inc. (NASDAQ:CSCO). Amf Pensionsforsakring Ab has invested 2.19% of its portfolio in Cisco Systems, Inc. (NASDAQ:CSCO). Lowe Brockenbrough & owns 341,234 shares. Welch Forbes Lc holds 0.48% or 437,136 shares in its portfolio. Ipg Inv Ltd Liability Corporation invested in 8,821 shares or 0% of the stock. Livforsakringsbolaget Skandia Omsesidigt holds 0.1% in Cisco Systems, Inc. (NASDAQ:CSCO) or 311,957 shares. Koch Industries reported 0.02% stake. Ccm Advisers Ltd owns 2.31% invested in Cisco Systems, Inc. (NASDAQ:CSCO) for 276,482 shares.

Since February 20, 2018, it had 0 buys, and 4 insider sales for $3.63 million activity. The insider SARIN ARUN sold $625,751. Another trade for 35,000 shares valued at $1.51 million was made by Goeckeler David on Friday, June 22.

Connors Investor Services Inc decreased its stake in Cisco Systems (CSCO) by 46.09% based on its latest 2018Q1 regulatory filing with the SEC. Connors Investor Services Inc sold 176,430 shares as the company’s stock declined 4.63% with the market. The institutional investor held 206,380 shares of the technology company at the end of 2018Q1, valued at $8.85M, down from 382,810 at the end of the previous reported quarter. Connors Investor Services Inc who had been investing in Cisco Systems for a number of months, seems to be less bullish one the $196.49B market cap company. The stock decreased 4.13% or $1.8 during the last trading session, reaching $41.78. About 47.03 million shares traded or 112.90% up from the average. Cisco Systems, Inc. (NASDAQ:CSCO) has risen 37.60% since July 14, 2017 and is uptrending. It has outperformed by 25.03% the S&P500.

Analysts await Cisco Systems, Inc. (NASDAQ:CSCO) to report earnings on August, 15. They expect $0.63 EPS, up 14.55 % or $0.08 from last year’s $0.55 per share. CSCO’s profit will be $2.96B for 16.58 P/E if the $0.63 EPS becomes a reality. After $0.60 actual EPS reported by Cisco Systems, Inc. for the previous quarter, Wall Street now forecasts 5.00 % EPS growth.

More notable recent Cisco Systems, Inc. (NASDAQ:CSCO) news were published by: Bizjournals.com which released: “Puppet raises $42M, will continue dramatic global expansion” on June 27, 2018, also Nasdaq.com with their article: “Why AMD Stock Will Rally Before Its Earnings Announcement” published on July 12, 2018, Seekingalpha.com published: “Cisco: The Safe Bet In Technology” on July 12, 2018. More interesting news about Cisco Systems, Inc. (NASDAQ:CSCO) were released by: Seekingalpha.com and their article: “Cisco Earnings Will Bring Answers” published on July 11, 2018 as well as Seekingalpha.com‘s news article titled: “PTC’s Opportunity In The IoT Market” with publication date: July 11, 2018.

Cisco Systems, Inc. (NASDAQ:CSCO) Ratings Coverage

Among 25 analysts covering Cisco Systems (NASDAQ:CSCO), 20 have Buy rating, 0 Sell and 5 Hold. Therefore 80% are positive. Cisco Systems has $5800 highest and $4100 lowest target. $49.25’s average target is 17.88% above currents $41.78 stock price. Cisco Systems had 38 analyst reports since January 18, 2018 according to SRatingsIntel. The rating was maintained by Raymond James with “Buy” on Thursday, February 15. The stock of Cisco Systems, Inc. (NASDAQ:CSCO) has “Buy” rating given on Wednesday, April 18 by Piper Jaffray. RBC Capital Markets maintained it with “Buy” rating and $44.0 target in Sunday, February 11 report. The firm has “Buy” rating by Bank of America given on Thursday, February 15. The stock of Cisco Systems, Inc. (NASDAQ:CSCO) has “Overweight” rating given on Monday, February 26 by Morgan Stanley. Stifel Nicolaus maintained Cisco Systems, Inc. (NASDAQ:CSCO) on Thursday, February 15 with “Hold” rating. KeyBanc Capital Markets maintained it with “Buy” rating and $43.0 target in Thursday, January 18 report. Citigroup maintained Cisco Systems, Inc. (NASDAQ:CSCO) on Tuesday, February 13 with “Buy” rating. The firm has “Buy” rating given on Monday, May 14 by Cowen & Co. Cowen & Co maintained Cisco Systems, Inc. (NASDAQ:CSCO) on Monday, February 12 with “Buy” rating.

Cisco Systems, Inc. (NASDAQ:CSCO) Institutional Positions Chart

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