Cisco Systems Attracts More Institutional Investors Amid AI Boom

Cisco Systems, Inc.'s stock has seen increased interest from investors, particularly Versant Capital Management Inc., which raised its holdings in the company by 43.7% in the third quarter.

The fund owned 33,365 shares of Cisco's stock after purchasing an additional 10,146 shares during the quarter, with a total value of $3,591,000.

This is not an isolated instance, as several other institutional investors have also increased their stakes in Cisco Systems. QRG Capital Management Inc., for example, grew its stake by 8.4% in the second quarter, while Envestnet Portfolio Solutions Inc. raised its stake by 24.6% during the same period.

The network equipment provider's stock has seen a boost from analyst ratings, with Morgan Stanley increasing its target price to $135 and Rosenblatt Securities raising their price objective to $165. However, Piper Sandler reduced its target price to $125, citing valuation risk after Cisco's strong 12-month advance.