Cisco buys software maker BroadSoft for about $1.9 billion

Taher Behbehani chief marketing officer of Broadsoft Inc. from left Charlie Wade senior vice president of products and solutions at Rogers Communications Inc. and Ron McKenzie senior vice president of Shaw Communications Inc. participate in a panel

Cisco will pay $55 per share in cash in exchange for each BroadSoft share to finalize the $1.9 billion deal. Accern also assigned media stories about the network equipment provider an impact score of 45.831641739251 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock's share price in the immediate future. Zacks Investment Research cut shares of Cisco Systems from a "buy" rating to a "sell" rating in a research note on Tuesday, November 22nd. Mitsubishi Ufj Securities Co Ltd stated it has 10 shares or 0.01% of all its holdings. Finally, BMO Capital Markets reiterated a "hold" rating and issued a $32.00 price objective on shares of Cisco Systems in a research note on Thursday, September 28th. The Ci Investments Inc holds 3.46M shares with $108.31M value, up from 2.99M last quarter. Riggs Asset Managment Co.

Matrix Asset Advisors Inc increased its stake in Cisco Systems Inc (CSCO) by 3.44% based on its latest 2017Q2 regulatory filing with the SEC. Cisco Systems, Inc. (NASDAQ:CSCO) has a 20-Day average volume of 16.2 Million. Cisco Systems, Inc.'s institutional ownership is 77.7%, while its institutional transactions stand at 0.01%. (NASDAQ CSCO) opened at 34.25 on Monday. The stock is now moving above its 20-Day Simple Moving Average of 1.97% with a 50-Day Simple Moving Average of 5.36 percent. Cisco Systems has a 1-year low of $22.46 and a 1-year high of $31.95.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The mean target price as estimated by the analysts for the company has been recorded at $35.73. The company's revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Cisco Systems's revenue was down 2.6% compared to the same quarter previous year. This represents a $1.16 dividend on an annualized basis and a yield of 3.39%. The stock has "Overweight" rating by Pacific Crest on Wednesday, January 13. Cisco Systems's payout ratio is presently 49.52%.

A number of equities research analysts have commented on the stock. Orrstown Financial Services Inc. increased its position in shares of Cisco Systems by 89.3% in the third quarter. Drexel Hamilton initiated the shares of CSCO in report on Friday, October 9 with "Buy" rating.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 5.74%, and has a solid year to date (YTD) performance of 13.34% which means that the stock is constantly adding to its value from the previous fiscal year end price.

BroadSoft shares had closed at $54.90 on Friday, giving the company a market capitalization of $1.67 billion. The stock has an average rating of "Buy" and a consensus target price of $32.77. (NASDAQ:CSCO). Toth Advisory Corp has invested 2.19% of its portfolio in Cisco Systems, Inc. "(CSCO)" was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this news story on another domain, it was stolen and republished in violation of USA & global trademark and copyright laws. The correct version of this story can be accessed at https://stocknewstimes.com/2017/10/23/american-trust-investment-advisors-llc-sells-94820-shares-of-cisco-systems-inc-csco.html. Also, CAO Prat Bhatt sold 25,638 shares of the business's stock in a transaction on Wednesday, September 13th. (NASDAQ:CSCO) was sold by Jacoby Rebecca on Wednesday, June 14. The disclosure for this sale can be found here. There has been an observed change of -15.00% in the ownership of the shares in the past six months. The stock declined 0.52% or $0.1 reaching $19.28 on the news.

Cisco Systems Inc, the world's largest networking gear manufacturer, said it will buy US telecommunications software company BroadSoft Inc in a deal valued at about $1.9 billion, including debt.

Related:

Comments


Other news