Barclays cut shares of Citrix Systems (NASDAQ:CTXS) from an overweight rating to an equal weight rating in a research note released on Monday, January 8th, MarketBeat reports. The firm currently has $90.00 price target on the cloud computing company’s stock.
Several other analysts have also weighed in on CTXS. Wells Fargo & Co upgraded Citrix Systems from a market perform rating to an outperform rating and increased their price target for the company from $82.50 to $95.00 in a report on Monday, October 2nd. Zacks Investment Research upgraded Citrix Systems from a sell rating to a hold rating in a report on Tuesday, January 2nd. Robert W. Baird restated a buy rating on shares of Citrix Systems in a report on Thursday, January 4th. BidaskClub raised Citrix Systems from a strong sell rating to a sell rating in a research report on Friday, January 5th. Finally, Mizuho reaffirmed a buy rating and issued a $94.00 price objective (up previously from $92.00) on shares of Citrix Systems in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $91.31.
Citrix Systems (NASDAQ CTXS) traded up $0.67 during trading hours on Monday, reaching $93.43. The company had a trading volume of 2,378,955 shares, compared to its average volume of 1,250,000. Citrix Systems has a one year low of $70.24 and a one year high of $95.00. The stock has a market cap of $14,080.00, a price-to-earnings ratio of 3,114.33, a PEG ratio of 4.58 and a beta of 1.41. 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, January 31st. The cloud computing company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.06. Citrix Systems had a return on equity of 31.32% and a net margin of 15.67%. The company had revenue of $777.90 million for the quarter, compared to analyst estimates of $778.49 million. During the same quarter in the prior year, the firm posted $1.61 EPS. Citrix Systems’s quarterly revenue was up 5.9% compared to the same quarter last year. analysts anticipate that Citrix Systems will post 3.93 earnings per share for the current fiscal year.
Citrix Systems declared that its board has initiated a share repurchase program on Monday, November 13th that permits the company to buyback $1.70 billion in outstanding shares. This buyback authorization permits the cloud computing company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
In other news, SVP Rotterdam Jeroen Van sold 8,530 shares of the stock in a transaction on Wednesday, November 15th. The stock was 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 approximately $5,677,178.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark M. Coyle sold 2,500 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $88.90, for a total value of $222,250.00. Following the transaction, the chief financial officer now directly owns 36,012 shares in the company, valued at approximately $3,201,466.80. The disclosure for this sale can be found here. Insiders have sold a total of 98,530 shares of company stock worth $8,448,117 in the last three months. Corporate insiders own 0.44% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CTXS. LSV Asset Management purchased a new stake in shares of Citrix Systems during the 2nd quarter worth $851,000. Engineers Gate Manager LP purchased a new stake in shares of Citrix Systems during the 2nd quarter worth $1,722,000. Aberdeen Asset Management PLC UK lifted its stake in shares of Citrix Systems by 26.6% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 177,150 shares of the cloud computing company’s stock worth $14,097,000 after purchasing an additional 37,262 shares during the last quarter. Martingale Asset Management L P lifted its stake in shares of Citrix Systems by 84.6% during the 2nd quarter. Martingale Asset Management L P now owns 76,003 shares of the cloud computing company’s stock worth $6,049,000 after purchasing an additional 34,841 shares during the last quarter. Finally, Fiera Capital Corp lifted its stake in shares of Citrix Systems by 16.8% during the 2nd quarter. Fiera Capital Corp now owns 6,540 shares of the cloud computing company’s stock worth $521,000 after purchasing an additional 940 shares during the last quarter. Hedge funds and other institutional investors own 92.16% 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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