Barclays lowered shares of Citrix Systems (NASDAQ:CTXS) from an overweight rating to an equal weight rating in a report issued on Monday, January 8th, MarketBeat Ratings reports. Barclays currently has $90.00 target price on the cloud computing company’s stock.
Other equities analysts have also issued reports about the stock. Mizuho reissued a buy rating and issued a $94.00 price objective (up from $92.00) on shares of Citrix Systems in a research report on Wednesday, October 25th. Robert W. Baird reissued a buy rating on shares of Citrix Systems in a research report on Thursday, January 4th. Zacks Investment Research raised shares of Citrix Systems from a sell rating to a hold rating in a research report on Monday, October 30th. Citigroup dropped their price objective on shares of Citrix Systems from $96.00 to $94.00 and set a buy rating on the stock in a research report on Friday, October 27th. Finally, Royal Bank of Canada reaffirmed a hold rating and set a $85.00 price target on shares of Citrix Systems in a research report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Citrix Systems currently has an average rating of Hold and a consensus price target of $89.00.
Shares of Citrix Systems (CTXS) traded down $0.08 on Monday, hitting $89.96. 1,977,200 shares of the stock traded hands, compared to its average volume of 1,317,580. The company has a market capitalization of $13,740.00, a price-to-earnings ratio of 27.94, a PEG ratio of 4.45 and a beta of 1.41. Citrix Systems has a 52 week low of $70.24 and a 52 week 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.
Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings data on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.18. The company had revenue of $691.00 million for the quarter, compared to analyst estimates of $691.61 million. Citrix Systems had a net margin of 15.67% and a return on equity of 31.32%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.32 earnings per share. sell-side analysts expect that Citrix Systems will post 3.93 EPS for the current year.
Citrix Systems declared that its board has approved a share repurchase program on Monday, November 13th that allows the company to buyback $1.70 billion in outstanding shares. This buyback authorization allows the cloud computing company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other Citrix Systems news, CEO David J. Henshall sold 12,500 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $88.31, for a total value of $1,103,875.00. Following the transaction, the chief executive officer now directly owns 294,277 shares of the company’s stock, valued at approximately $25,987,601.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark M. Coyle sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $88.90, for a total transaction of $222,250.00. Following the completion of the transaction, the chief financial officer now directly owns 36,012 shares in the company, valued at $3,201,466.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,530 shares of company stock worth $8,448,117. 0.44% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Grove Bank & Trust boosted its stake in shares of Citrix Systems by 50.0% in the 3rd quarter. Grove Bank & Trust now owns 2,303 shares of the cloud computing company’s stock valued at $177,000 after purchasing an additional 768 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in shares of Citrix Systems in the 3rd quarter valued at approximately $215,000. Colony Group LLC acquired a new stake in shares of Citrix Systems in the 2nd quarter valued at approximately $228,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Citrix Systems in the 3rd quarter valued at approximately $251,000. Finally, Hillsdale Investment Management Inc. boosted its stake in shares of Citrix Systems by 3,050.0% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,780 shares of the cloud computing company’s stock valued at $300,000 after purchasing an additional 3,660 shares in the last quarter. 94.23% of the stock is currently owned by hedge funds and other institutional investors.
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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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