BidaskClub Downgrades Citrix Systems (CTXS) to Hold

BidaskClub lowered shares of Citrix Systems (NASDAQ:CTXS) from a buy rating to a hold rating in a research note published on Tuesday.

A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Citrix Systems from a hold rating to a buy rating and set a $122.00 price objective for the company in a research report on Wednesday, November 28th. Robert W. Baird reduced their price objective on shares of Citrix Systems from $120.00 to $105.00 and set a neutral rating for the company in a research report on Thursday, October 25th. Citigroup upped their price objective on shares of Citrix Systems from $120.00 to $124.00 and gave the stock a buy rating in a research report on Thursday, October 25th. Bank of America reduced their price objective on shares of Citrix Systems from $123.00 to $116.00 and set a neutral rating for the company in a research report on Thursday, October 25th. Finally, Wedbush initiated coverage on shares of Citrix Systems in a research report on Thursday, October 18th. They set a neutral rating and a $115.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $114.21.

NASDAQ:CTXS opened at $107.37 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The firm has a market cap of $14.67 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 2.71 and a beta of 1.37. Citrix Systems has a fifty-two week low of $83.70 and a fifty-two week high of $116.82.

Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings data on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. The company had revenue of $732.47 million during the quarter, compared to analysts’ expectations of $722.76 million. Citrix Systems had a net margin of 4.27% and a return on equity of 91.46%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 earnings per share. As a group, equities research analysts predict that Citrix Systems will post 4.39 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Thursday, December 6th.

Citrix Systems announced that its Board of Directors has approved a share buyback plan on Wednesday, October 24th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the cloud computing company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

In other 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 completion of the sale, the executive vice president now directly owns 59,685 shares in the company, valued at $6,552,219.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Calderoni sold 2,128 shares of the stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $110.14, for a total transaction of $234,377.92. The disclosure for this sale can be found here. Insiders sold 27,783 shares of company stock valued at $2,973,266 over the last quarter. Company insiders own 0.56% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Citrix Systems by 3.5% in the third quarter. Vanguard Group Inc. now owns 14,060,558 shares of the cloud computing company’s stock valued at $1,562,972,000 after purchasing an additional 472,583 shares during the period. Legal & General Group Plc grew its holdings in shares of Citrix Systems by 0.9% in the third quarter. Legal & General Group Plc now owns 691,087 shares of the cloud computing company’s stock valued at $76,820,000 after purchasing an additional 6,200 shares during the period. Standard Life Aberdeen plc grew its holdings in shares of Citrix Systems by 0.7% in the third quarter. Standard Life Aberdeen plc now owns 188,688 shares of the cloud computing company’s stock valued at $20,974,000 after purchasing an additional 1,316 shares during the period. NorthCoast Asset Management LLC purchased a new stake in shares of Citrix Systems in the third quarter valued at about $631,000. Finally, Nordea Investment Management AB grew its holdings in shares of Citrix Systems by 20.2% in the third quarter. Nordea Investment Management AB now owns 168,667 shares of the cloud computing company’s stock valued at $18,752,000 after purchasing an additional 28,374 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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