Investors Buy Citrix Systems (CTXS) on Weakness

Investors bought shares of Citrix Systems, Inc. (NASDAQ:CTXS) on weakness during trading on Thursday. $61.69 million flowed into the stock on the tick-up and $26.04 million flowed out of the stock on the tick-down, for a money net flow of $35.65 million into the stock. Of all stocks tracked, Citrix Systems had the 8th highest net in-flow for the day. Citrix Systems traded down ($1.01) for the day and closed at $89.81

Several equities analysts have recently issued reports on CTXS shares. Stifel Nicolaus dropped their price target on shares of Citrix Systems from $77.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, October 26th. Zacks Investment Research downgraded shares of Citrix Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. BidaskClub downgraded shares of Citrix Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 2nd. Wells Fargo & Co raised shares of Citrix Systems from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $82.50 to $95.00 in a research note on Monday, October 2nd. Finally, Robert W. Baird set a $90.00 target price on shares of Citrix Systems and gave the stock a “buy” rating in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $89.00.

The firm has a market capitalization of $13,530.00, a price-to-earnings ratio of 27.89, a PEG ratio of 4.52 and a beta of 1.41. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.43 and a current ratio of 1.44.

Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings data on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. The firm had revenue of $691.00 million during the quarter, compared to analysts’ expectations of $691.61 million. Citrix Systems had a net margin of 15.67% and a return on equity of 31.32%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $1.32 earnings per share. equities research 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 initiated a share repurchase plan on Monday, November 13th that allows the company to buyback $1.70 billion in shares. This buyback authorization allows the cloud computing company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

In other news, CEO David J. Henshall sold 12,500 shares of Citrix Systems stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $84.25, for a total transaction of $1,053,125.00. Following the completion of the transaction, the chief executive officer now directly owns 306,777 shares in the company, valued at $25,845,962.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rotterdam Jeroen Van sold 8,530 shares of Citrix Systems stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $84.58, for a total transaction of $721,467.40. Following the transaction, the senior vice president now owns 67,122 shares of the company’s stock, valued at $5,677,178.76. The disclosure for this sale can be found here. Insiders have sold 98,530 shares of company stock valued at $8,448,117 over the last quarter. Corporate insiders own 0.44% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Veritable L.P. boosted its holdings in Citrix Systems by 0.3% during the second quarter. Veritable L.P. now owns 4,477 shares of the cloud computing company’s stock worth $356,000 after purchasing an additional 15 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Citrix Systems by 1.2% during the second quarter. D.A. Davidson & CO. now owns 23,240 shares of the cloud computing company’s stock worth $1,849,000 after purchasing an additional 265 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Citrix Systems by 6.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 5,305 shares of the cloud computing company’s stock worth $422,000 after purchasing an additional 322 shares during the last quarter. Norinchukin Bank The boosted its holdings in Citrix Systems by 3.2% during the second quarter. Norinchukin Bank The now owns 10,488 shares of the cloud computing company’s stock worth $835,000 after purchasing an additional 328 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Citrix Systems by 3.5% during the second quarter. PNC Financial Services Group Inc. now owns 11,521 shares of the cloud computing company’s stock worth $918,000 after purchasing an additional 389 shares during the last quarter. Hedge funds and other 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.

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