Verus Financial Partners adds Cisco Systems (CSCO) to its portfolio

Cisco Systems (CSCO) : Verus Financial Partners added new position in Cisco Systems during the most recent quarter end. The investment management firm now holds 6,881 shares of Cisco Systems which is valued at $207,600 , the company said in a statement filed on Oct 13, 2016 with the SEC.Cisco Systems makes up approximately 0.09% of Verus Financial Partners’s portfolio.

Other Hedge Funds, Including , First Premier Bank boosted its stake in CSCO in the latest quarter, The investment management firm added 3,469 additional shares and now holds a total of 12,963 shares of Cisco Systems which is valued at $391,094. Cisco Systems makes up approx 0.30% of First Premier Bank’s portfolio.Canandaigua National Bank Trust Co boosted its stake in CSCO in the latest quarter, The investment management firm added 3,163 additional shares and now holds a total of 64,683 shares of Cisco Systems which is valued at $2,007,760. Cisco Systems makes up approx 0.60% of Canandaigua National Bank Trust Co’s portfolio.Naples Global Advisors boosted its stake in CSCO in the latest quarter, The investment management firm added 3,330 additional shares and now holds a total of 45,552 shares of Cisco Systems which is valued at $1,433,521. Cisco Systems makes up approx 0.56% of Naples Global Advisors’s portfolio.Pacwest Financial Management Inc boosted its stake in CSCO in the latest quarter, The investment management firm added 349 additional shares and now holds a total of 74,734 shares of Cisco Systems which is valued at $2,351,879. Cisco Systems makes up approx 1.44% of Pacwest Financial Management Inc’s portfolio.Eqis Capital Management boosted its stake in CSCO in the latest quarter, The investment management firm added 13,454 additional shares and now holds a total of 58,416 shares of Cisco Systems which is valued at $1,845,361. Cisco Systems makes up approx 0.12% of Eqis Capital Management’s portfolio.

Cisco Systems closed down -0.43 points or -1.37% at $31.04 with 1,94,12,018 shares getting traded on Tuesday. Post opening the session at $31.52, the shares hit an intraday low of $30.85 and an intraday high of $31.53 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Cisco Systems reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $0.60. The company had revenue of $12638.00 million for the quarter, compared to analysts expectations of $12571.21 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.59 EPS.

Many Wall Street Analysts have commented on Cisco Systems. Company shares were Reiterated by Deutsche Bank on Sep 14, 2016 to “Buy”, Firm has raised the Price Target to $ 37 from a previous price target of $35 .Company shares were Reiterated by Jefferies on Aug 17, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $30.75 .Company shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 35 from a previous price target of $33 .

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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