Brokerages predict that Citrix Systems, Inc. (NASDAQ:CTXS) will post sales of $777.62 million for the current quarter, according to Zacks. Nine analysts have made estimates for Citrix Systems’ earnings, with estimates ranging from $775.65 million to $779.70 million. Citrix Systems posted sales of $908.36 million during the same quarter last year, which would indicate a negative year over year growth rate of 14.4%. The company is expected to report its next earnings report after the market closes on Wednesday, January 31st.

On average, analysts expect that Citrix Systems will report full year sales of $777.62 million for the current financial year, with estimates ranging from $2.82 billion to $2.83 billion. For the next financial year, analysts expect that the business will report sales of $2.89 billion per share, with estimates ranging from $2.86 billion to $3.08 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Citrix Systems.

Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings data on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. Citrix Systems had a return on equity of 31.32% and a net margin of 15.67%. The firm had revenue of $691.00 million during the quarter, compared to analyst estimates of $691.61 million. During the same quarter last year, the firm earned $1.32 EPS. Citrix Systems’s quarterly revenue was up 3.3% on a year-over-year basis.

CTXS has been the subject of several research reports. Citigroup decreased their target price on Citrix Systems from $96.00 to $94.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Zacks Investment Research lowered Citrix Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. KeyCorp reiterated a “hold” rating on shares of Citrix Systems in a research report on Friday, November 10th. Goldman Sachs Group upgraded Citrix Systems from a “neutral” rating to a “buy” rating and set a $109.00 target price for the company in a research report on Friday, November 3rd. Finally, Robert W. Baird reiterated a “buy” rating on shares of Citrix Systems in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $89.50.

In other Citrix Systems news, CEO David J. Henshall sold 12,500 shares of Citrix Systems stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $84.25, for a total transaction of $1,053,125.00. Following the sale, the chief executive officer now owns 306,777 shares of the company’s stock, valued at approximately $25,845,962.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark M. Coyle sold 2,500 shares of Citrix Systems stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $84.32, for a total value of $210,800.00. Following the sale, the chief financial officer now directly owns 38,512 shares in the company, valued at approximately $3,247,331.84. The disclosure for this sale can be found here. In the last three months, insiders sold 98,530 shares of company stock worth $8,448,117. Company insiders own 0.44% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CTXS. LSV Asset Management bought a new stake in Citrix Systems during the 2nd quarter valued at $851,000. Ameriprise Financial Inc. raised its stake in Citrix Systems by 10.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 422,841 shares of the cloud computing company’s stock valued at $33,641,000 after acquiring an additional 38,817 shares in the last quarter. Amalgamated Bank raised its stake in Citrix Systems by 50.4% during the 2nd quarter. Amalgamated Bank now owns 17,686 shares of the cloud computing company’s stock valued at $1,407,000 after acquiring an additional 5,930 shares in the last quarter. Laurion Capital Management LP raised its stake in shares of Citrix Systems by 26.7% in the 2nd quarter. Laurion Capital Management LP now owns 15,200 shares of the cloud computing company’s stock worth $1,210,000 after buying an additional 3,200 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Citrix Systems by 3.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 11,521 shares of the cloud computing company’s stock worth $918,000 after buying an additional 389 shares in the last quarter. 94.23% of the stock is currently owned by hedge funds and other institutional investors.

Citrix Systems (NASDAQ CTXS) opened at $92.72 on Friday. The company has a market capitalization of $13,768.72, a P/E ratio of 31.43, a PEG ratio of 4.51 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.44 and a quick ratio of 1.43. Citrix Systems has a 12-month low of $70.24 and a 12-month high of $92.87.

Citrix Systems announced that its Board of Directors has initiated a stock repurchase program on Monday, November 13th that authorizes the company to repurchase $1.70 billion in outstanding shares. This repurchase authorization authorizes the cloud computing company to reacquire shares of its stock 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

Citrix Systems, Inc offers Enterprise and Service Provider products, which include Workspace Services solutions and Delivery Networking products. The Company’s Enterprise and Service Provider products include Cloud Services solutions, and related license updates and maintenance, support and professional services.

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