Barclays Downgrades Citrix Systems (CTXS) to Equal Weight

Citrix Systems (NASDAQ:CTXS) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday. They currently have a $90.00 target price on the cloud computing company’s stock. Barclays’ price target suggests a potential downside of 1.30% from the company’s current price.

CTXS has been the subject of a number of other research reports. Stifel Nicolaus cut their price objective on Citrix Systems from $77.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 26th. BidaskClub upgraded Citrix Systems from a “strong sell” rating to a “sell” rating in a research report on Friday, January 5th. Robert W. Baird set a $90.00 price objective on Citrix Systems and gave the company a “buy” rating in a research report on Friday, October 6th. Wells Fargo & Co upgraded Citrix Systems from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $82.50 to $95.00 in a research report on Monday, October 2nd. Finally, Royal Bank of Canada restated a “hold” rating and set a $85.00 price objective on shares of Citrix Systems in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Citrix Systems has a consensus rating of “Hold” and a consensus price target of $89.50.

Shares of Citrix Systems (CTXS) traded up $0.22 during mid-day trading on Monday, reaching $91.19. The company’s stock had a trading volume of 821,800 shares, compared to its average volume of 1,100,950. Citrix Systems has a 1-year low of $70.24 and a 1-year high of $91.83. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.44 and a quick ratio of 1.43. The stock has a market cap of $13,740.00, a price-to-earnings ratio of 28.32, a PEG ratio of 4.52 and a beta of 1.41.

Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.18. Citrix Systems had a return on equity of 31.32% and a net margin of 15.67%. The business had revenue of $691.00 million during the quarter, compared to analyst estimates of $691.61 million. During the same quarter in the prior year, the business posted $1.32 EPS. Citrix Systems’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities analysts anticipate that Citrix Systems will post 3.93 earnings per share for the current fiscal year.

Citrix Systems declared that its board has approved a stock buyback program on Monday, November 13th that authorizes the company to repurchase $1.70 billion in shares. This repurchase authorization authorizes the cloud computing company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In related news, CEO David J. Henshall sold 12,500 shares of Citrix Systems stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $84.25, for a total value of $1,053,125.00. Following the completion of the transaction, the chief executive officer now owns 306,777 shares in the company, valued at $25,845,962.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark M. Coyle sold 2,500 shares of Citrix Systems stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $88.90, for a total value of $222,250.00. Following the completion of the transaction, the chief financial officer now owns 36,012 shares of the company’s stock, valued at approximately $3,201,466.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,530 shares of company stock valued at $8,448,117. 0.44% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC grew its position in Citrix Systems by 8.2% in the second quarter. Farallon Capital Management LLC now owns 1,606,673 shares of the cloud computing company’s stock worth $127,859,000 after acquiring an additional 121,549 shares in the last quarter. BT Investment Management Ltd lifted its stake in Citrix Systems by 11.7% in the third quarter. BT Investment Management Ltd now owns 1,314,871 shares of the cloud computing company’s stock worth $101,020,000 after purchasing an additional 138,032 shares during the last quarter. Schroder Investment Management Group lifted its stake in Citrix Systems by 0.9% in the third quarter. Schroder Investment Management Group now owns 1,267,628 shares of the cloud computing company’s stock worth $97,221,000 after purchasing an additional 10,876 shares during the last quarter. Numeric Investors LLC lifted its stake in Citrix Systems by 61.4% in the second quarter. Numeric Investors LLC now owns 1,156,334 shares of the cloud computing company’s stock worth $92,021,000 after purchasing an additional 439,821 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Citrix Systems by 22.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,100,626 shares of the cloud computing company’s stock worth $87,588,000 after purchasing an additional 200,291 shares during the last quarter. Institutional investors own 94.22% of the company’s stock.

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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.

Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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