Bridgewater Associates LP purchased a new position in shares of Citrix Systems, Inc. (NASDAQ:CTXS) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 45,651 shares of the cloud computing company’s stock, valued at approximately $5,075,000.
Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Citrix Systems by 72.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,734 shares of the cloud computing company’s stock valued at $1,858,000 after buying an additional 7,014 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Citrix Systems by 20.2% during the 3rd quarter. GSA Capital Partners LLP now owns 13,097 shares of the cloud computing company’s stock valued at $1,456,000 after acquiring an additional 2,197 shares during the period. United Services Automobile Association lifted its position in shares of Citrix Systems by 2.1% during the 3rd quarter. United Services Automobile Association now owns 370,397 shares of the cloud computing company’s stock valued at $41,173,000 after acquiring an additional 7,649 shares during the period. Stevens Capital Management LP bought a new stake in shares of Citrix Systems during the 3rd quarter valued at $5,477,000. Finally, Standard Life Aberdeen plc lifted its position in shares of Citrix Systems by 0.7% during the 3rd quarter. Standard Life Aberdeen plc now owns 188,688 shares of the cloud computing company’s stock valued at $20,974,000 after acquiring an additional 1,316 shares during the period. 99.53% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on CTXS. Robert W. Baird cut their target price on Citrix Systems from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, October 25th. BidaskClub upgraded Citrix Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 1st. Wedbush assumed coverage on Citrix Systems in a research report on Thursday, October 18th. They set a “neutral” rating and a $115.00 price objective for the company. Barclays upped their price objective on Citrix Systems from $112.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Friday, September 7th. Finally, Bank of America dropped their price objective on Citrix Systems from $123.00 to $116.00 and set a “neutral” rating for the company in a research report on Thursday, October 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Citrix Systems currently has an average rating of “Hold” and a consensus price target of $114.00.
Shares of CTXS stock traded down $1.29 on Tuesday, hitting $99.47. The company had a trading volume of 1,095,401 shares, compared to its average volume of 1,998,885. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.51 and a beta of 1.37. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.98. Citrix Systems, Inc. has a twelve month low of $83.70 and a twelve month high of $116.82.
Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share for the quarter, beating the 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 return on equity of 91.46% and a net margin of 4.27%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 earnings per share. Sell-side analysts forecast that Citrix Systems, Inc. will post 4.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 21st. Investors of record on Friday, December 7th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, December 6th. This represents a $1.40 annualized dividend and a yield of 1.41%. Citrix Systems’s dividend payout ratio is currently 33.82%.
Citrix Systems declared that its Board of Directors has initiated a stock repurchase 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 buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In related news, Chairman Robert Calderoni sold 2,128 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $102.34, for a total transaction of $217,779.52. Following the completion of the sale, the chairman now owns 138,772 shares of the company’s stock, valued at $14,201,926.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jessica Soisson sold 1,466 shares of the firm’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $110.77, for a total value of $162,388.82. Following the sale, the vice president now directly owns 18,526 shares of the company’s stock, valued at approximately $2,052,125.02. The disclosure for this sale can be found here. Insiders have sold 29,249 shares of company stock valued at $3,135,655 in the last ninety days. 0.56% of the stock is currently owned by insiders.
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Citrix Systems Company 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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