Cisco Systems, Inc. (NASDAQ:CSCO) shares hit a 3-year highest price


Dallas, Texas 08/06/2013 (Financialstrend) Most recently, Cisco Systems Inc (NASDAQ:CSCO) have acquired JouleX which is an energy management start-up. It seemed that Cisco Systems Inc have made a payment of $ 107 million for this acquisition per the news. JouleX is a company which is well known for offering the software solutions for the purpose of better management of the energy. This company already found collaborating with the major companies like Intel. The software of the company allows the administrators to monitor and thereby adjusting the usage of power. Through this brand new acquisition, Cisco Systems Inc will be having an edge over the company’s networking competitors like Juniper Networks Inc. This is due to the fact that the company can now be able to give the solutions for the power managing for a wide array of the products of managing and switching. There is no doubt that this new acquisition by Cisco Systems Inc will pose a strong challenge to Juniper Networks Inc as the Cisco Systems will be able to provide the relative services in a single package.

During the last trading session, Cisco Systems Inc was found to hit a fresh 3-year highest price at $26.42. The high has been reached by the company’s stock after the price objective over it has been increased at RBC from $ 25 to $ 26 before the opening of the session. During the afternoon trading, it was observed that the price objective over the stock of Cisco Systems Inc was increased from $ 26 to $ 28 by Deutsche Bank. On a technical point of view, Cisco Systems Inc have found increasing by 60.4% from year to year to reach the current price of $ 26.21. During the past three months, the company has outperformed the larger S&P 500 Index by around 20% points.