Citrix Systems (NASDAQ:CTXS) had its price target lifted by investment analysts at Morgan Stanley from $84.00 to $92.00 in a research note issued on Thursday. The brokerage presently has an “underweight” rating on the cloud computing company’s stock. Morgan Stanley’s price target indicates a potential downside of 8.80% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Bank of America raised their target price on shares of Citrix Systems from $91.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Zacks Investment Research cut shares of Citrix Systems from a “buy” rating to a “hold” rating in a research report on Wednesday. Berenberg Bank cut shares of Citrix Systems from a “buy” rating to a “hold” rating in a research report on Thursday. They noted that the move was a valuation call. Stifel Nicolaus lifted their price target on shares of Citrix Systems from $88.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Wells Fargo reaffirmed an “outperform” rating and set a $110.00 price target (down from $120.00) on shares of Citrix Systems in a research report on Thursday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $97.56.
Shares of CTXS traded up $4.30 during mid-day trading on Thursday, hitting $100.88. The company had a trading volume of 1,262,938 shares, compared to its average volume of 1,673,863. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.55 and a current ratio of 1.55. Citrix Systems has a 1-year low of $73.33 and a 1-year high of $102.88. The stock has a market capitalization of $13,250.89, a PE ratio of 24.37, a P/E/G ratio of 3.05 and a beta of 1.27.
Citrix Systems (NASDAQ:CTXS) last released its earnings results on Wednesday, April 25th. The cloud computing company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.24. Citrix Systems had a negative net margin of 0.73% and a positive return on equity of 38.56%. The business had revenue of $697.19 million for the quarter, compared to analysts’ expectations of $675.57 million. During the same period last year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. sell-side analysts expect that Citrix Systems will post 3.91 earnings per share for the current fiscal year.
In other news, insider Robert Calderoni sold 62,237 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $95.78, for a total transaction of $5,961,059.86. Following the transaction, the insider now directly owns 208,112 shares of the company’s stock, valued at $19,932,967.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Rotterdam Jeroen Van sold 4,618 shares of the business’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $91.89, for a total transaction of $424,348.02. Following the transaction, the senior vice president now directly owns 77,417 shares in the company, valued at $7,113,848.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,010 shares of company stock worth $7,786,462. Corporate insiders own 0.44% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of Citrix Systems by 4.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 14,074 shares of the cloud computing company’s stock worth $1,239,000 after buying an additional 571 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of Citrix Systems by 4.4% in the fourth quarter. Xact Kapitalforvaltning AB now owns 45,052 shares of the cloud computing company’s stock worth $3,965,000 after buying an additional 1,909 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Citrix Systems by 63.3% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,255 shares of the cloud computing company’s stock worth $726,000 after buying an additional 3,200 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Citrix Systems in the fourth quarter worth $3,897,000. Finally, Glenmede Trust Co. NA increased its stake in shares of Citrix Systems by 69.7% in the fourth quarter. Glenmede Trust Co. NA now owns 687,354 shares of the cloud computing company’s stock worth $60,485,000 after buying an additional 282,312 shares during the last quarter. Institutional investors and hedge funds own 91.46% of the company’s stock.
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About Citrix Systems
Citrix Systems, Inc delivers solutions to secure and access applications worldwide. The company offers workspace services, including XenDesktop, a cloud-enabled desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients.
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