Citrix Systems, Inc. (NASDAQ:CTXS) gapped down before the market opened on Friday after Wedbush lowered their price target on the stock from $115.00 to $110.00. The stock had previously closed at $103.68, but opened at $101.86. Wedbush currently has a neutral rating on the stock. Citrix Systems shares last traded at $102.21, with a volume of 1065987 shares trading hands.
CTXS has been the subject of a number of other research reports. Zacks Investment Research upgraded Citrix Systems from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research note on Wednesday, November 28th. BidaskClub downgraded Citrix Systems from a “buy” rating to a “hold” rating in a report on Tuesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Citrix Systems presently has an average rating of “Hold” and an average price target of $113.21.
In other Citrix Systems news, insider Robert Calderoni sold 2,128 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $110.14, for a total transaction of $234,377.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jessica Soisson sold 1,466 shares of the 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 transaction, the vice president now directly owns 18,526 shares in the company, valued at approximately $2,052,125.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,196 shares of company stock worth $4,644,920. 0.56% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc lifted its holdings in shares of Citrix Systems by 3.5% in the 3rd quarter. Vanguard Group Inc now owns 14,060,558 shares of the cloud computing company’s stock worth $1,562,972,000 after purchasing an additional 472,583 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Citrix Systems by 7.5% in the 3rd quarter. First Trust Advisors LP now owns 3,021,416 shares of the cloud computing company’s stock worth $335,861,000 after purchasing an additional 209,493 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in shares of Citrix Systems by 14.6% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,280,058 shares of the cloud computing company’s stock worth $253,451,000 after purchasing an additional 291,119 shares during the last quarter. Man Group plc lifted its holdings in shares of Citrix Systems by 11.9% in the 3rd quarter. Man Group plc now owns 1,898,908 shares of the cloud computing company’s stock worth $211,082,000 after purchasing an additional 201,851 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Citrix Systems by 61.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 985,368 shares of the cloud computing company’s stock worth $109,199,000 after purchasing an additional 373,415 shares during the last quarter. 99.49% of the stock is currently owned by institutional investors and hedge funds.
The firm has a market capitalization of $14.59 billion, a PE ratio of 24.79, a P/E/G ratio of 2.47 and a beta of 1.26. 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 (NASDAQ:CTXS) last announced its quarterly earnings results on Wednesday, January 23rd. The cloud computing company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. The business had revenue of $802.00 million for the quarter, compared to the consensus estimate of $791.27 million. Citrix Systems had a return on equity of 91.46% and a net margin of 4.27%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. Sell-side analysts anticipate that Citrix Systems, Inc. will post 4.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, March 7th. Citrix Systems’s dividend payout ratio (DPR) is 33.82%.
Citrix Systems announced that its Board of Directors has initiated a stock repurchase program on Wednesday, October 24th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the cloud computing company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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Citrix Systems Company Profile (NASDAQ:CTXS)
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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