Acadian Asset Management LLC raised its stake in shares of Citrix Systems, Inc. (NASDAQ:CTXS) by 149.5% in the 3rd quarter, Holdings Channel reports. The firm owned 356,244 shares of the cloud computing company’s stock after acquiring an additional 213,459 shares during the period. Acadian Asset Management LLC’s holdings in Citrix Systems were worth $39,601,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTXS. Fort L.P. bought a new position in shares of Citrix Systems during the 2nd quarter valued at about $120,000. Piedmont Investment Advisors LLC bought a new position in shares of Citrix Systems during the 2nd quarter valued at about $153,000. Itau Unibanco Holding S.A. bought a new position in shares of Citrix Systems during the 2nd quarter valued at about $163,000. Advisors Preferred LLC bought a new position in shares of Citrix Systems during the 2nd quarter valued at about $172,000. Finally, Grove Bank & Trust bought a new position in shares of Citrix Systems during the 2nd quarter valued at about $200,000. 95.37% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:CTXS opened at $103.16 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. Citrix Systems, Inc. has a 12 month low of $81.11 and a 12 month high of $116.82. The stock has a market capitalization of $13.78 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 2.53 and a beta of 1.19.
Citrix Systems (NASDAQ:CTXS) last announced its quarterly earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.15. Citrix Systems had a net margin of 4.27% and a return on equity of 91.46%. The firm had revenue of $732.47 million during the quarter, compared to the consensus estimate of $722.76 million. During the same quarter last year, the firm earned $1.22 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that Citrix Systems, Inc. will post 4.38 earnings per share for the current year.
Citrix Systems announced that its board has authorized a share buyback program on Wednesday, October 24th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the cloud computing company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, December 6th.
In related news, EVP Rotterdam Jeroen Van sold 7,766 shares of the stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $109.78, for a total value of $852,551.48. Following the sale, the executive vice president now directly owns 59,685 shares of the company’s stock, valued at approximately $6,552,219.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jessica Soisson sold 1,136 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $113.78, for a total transaction of $129,254.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,030 shares of company stock valued at $1,222,865. 0.56% of the stock is owned by insiders.
CTXS has been the subject of several research reports. BidaskClub raised shares of Citrix Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 1st. Citigroup increased their price objective on shares of Citrix Systems from $120.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, October 25th. Barclays increased their price objective on shares of Citrix Systems from $112.00 to $114.00 and gave the company an “equal weight” rating in a report on Friday, September 7th. Robert W. Baird reissued a “hold” rating and set a $120.00 price objective on shares of Citrix Systems in a report on Thursday, July 26th. Finally, Cowen reissued a “hold” rating and set a $120.00 price objective on shares of Citrix Systems in a report on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $113.60.
Citrix Systems Profile
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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