TD Asset Management Inc. cut its position in Citrix Systems, Inc. (NASDAQ:CTXS) by 6.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,980 shares of the cloud computing company’s stock after selling 3,899 shares during the period. TD Asset Management Inc.’s holdings in Citrix Systems were worth $4,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of CTXS. BT Investment Management Ltd acquired a new position in shares of Citrix Systems in the 2nd quarter valued at $93,653,000. Koch Industries Inc. lifted its stake in shares of Citrix Systems by 12,490.5% in the 2nd quarter. Koch Industries Inc. now owns 724,333 shares of the cloud computing company’s stock valued at $715,000 after purchasing an additional 718,580 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Citrix Systems by 1,955.1% in the 2nd quarter. Bank of Nova Scotia now owns 734,618 shares of the cloud computing company’s stock valued at $58,461,000 after purchasing an additional 698,872 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its stake in shares of Citrix Systems by 28,024.7% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 695,243 shares of the cloud computing company’s stock valued at $55,327,000 after purchasing an additional 692,771 shares during the last quarter. Finally, Numeric Investors LLC lifted its stake in shares of Citrix Systems by 61.4% in the 2nd quarter. Numeric Investors LLC now owns 1,156,334 shares of the cloud computing company’s stock valued at $92,021,000 after purchasing an additional 439,821 shares during the last quarter. 94.42% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Mark M. Coyle sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $84.32, for a total transaction of $210,800.00. Following the sale, the chief financial officer now owns 38,512 shares in the company, valued at $3,247,331.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David J. Henshall sold 12,500 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $88.31, for a total value of $1,103,875.00. Following the sale, the chief executive officer now owns 294,277 shares in the company, valued at approximately $25,987,601.87. The disclosure for this sale can be found here. Insiders have sold 96,030 shares of company stock valued at $8,225,867 in the last three months. 0.44% of the stock is currently owned by company insiders.
CTXS has been the topic of several research analyst reports. Goldman Sachs Group upgraded Citrix Systems from a “neutral” rating to a “buy” rating and set a $109.00 price objective on the stock in a report on Friday, November 3rd. Zacks Investment Research downgraded Citrix Systems from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Robert W. Baird set a $90.00 price target on Citrix Systems and gave the stock a “buy” rating in a report on Friday, October 6th. Royal Bank of Canada restated a “hold” rating and set a $85.00 price target on shares of Citrix Systems in a report on Monday, September 4th. Finally, Citigroup lowered their price objective on Citrix Systems from $96.00 to $94.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $89.50.
Citrix Systems, Inc. (CTXS) opened at $87.53 on Friday. Citrix Systems, Inc. has a one year low of $70.24 and a one year high of $88.96. The firm has a market capitalization of $13,116.29, a P/E ratio of 21.18, a P/E/G ratio of 4.16 and a beta of 1.40. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.69.
Citrix Systems (NASDAQ:CTXS) last released its quarterly earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.18. The company had revenue of $691.00 million during the quarter, compared to the consensus estimate of $691.61 million. Citrix Systems had a return on equity of 31.32% and a net margin of 15.67%. Citrix Systems’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 earnings per share. equities analysts predict that Citrix Systems, Inc. will post 3.93 earnings per share for the current fiscal year.
Citrix Systems declared that its Board of Directors has authorized a share buyback plan on Monday, November 13th that permits the company to repurchase $1.70 billion in outstanding shares. This repurchase authorization permits the cloud computing company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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Citrix Systems Company Profile
Citrix Systems, Inc offers Enterprise and Service Provider products, which include Workspace Services solutions and Delivery Networking products. The Company’s Enterprise and Service Provider products include Cloud Services solutions, and related license updates and maintenance, support and professional services.
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