Citrix Systems (CTXS) Cut to Equal Weight at Barclays
Barclays lowered shares of Citrix Systems (NASDAQ:CTXS) from an overweight rating to an equal weight rating in a report issued on Monday, MarketBeat reports. Barclays currently has $90.00 price target on the cloud computing company’s stock.
CTXS has been the subject of several other reports. Stifel Nicolaus cut their target price on shares of Citrix Systems from $77.00 to $76.00 and set a hold rating for the company in a report on Thursday, October 26th. BidaskClub raised shares of Citrix Systems from a strong sell rating to a sell rating in a report on Friday. Robert W. Baird set a $90.00 target price on shares of Citrix Systems and gave the company a buy rating in a report on Friday, October 6th. Wells Fargo & Co raised shares of Citrix Systems from a market perform rating to an outperform rating and lifted their target price for the company from $82.50 to $95.00 in a report on Monday, October 2nd. Finally, Royal Bank of Canada reaffirmed a hold rating and set a $85.00 target price on shares of Citrix Systems in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Citrix Systems currently has an average rating of Hold and a consensus price target of $89.50.
Citrix Systems (NASDAQ CTXS) traded up $0.22 on Monday, reaching $91.19. 820,932 shares of the company’s stock were exchanged, compared to its average volume of 1,100,950. Citrix Systems has a 12 month low of $70.24 and a 12 month high of $91.83. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.69. The stock has a market cap of $13,760.00, a price-to-earnings ratio of 28.32, a PEG ratio of 4.52 and a beta of 1.41.
Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. Citrix Systems had a net margin of 15.67% and a return on equity of 31.32%. The company had revenue of $691.00 million during the quarter, compared to analyst estimates of $691.61 million. During the same period last year, the firm posted $1.32 EPS. Citrix Systems’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities research analysts anticipate that Citrix Systems will post 3.93 EPS for the current fiscal year.
Citrix Systems announced that its board has initiated a share repurchase plan 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 buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other Citrix Systems news, SVP Rotterdam Jeroen Van sold 8,530 shares of Citrix Systems stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $84.58, for a total transaction of $721,467.40. Following the sale, the senior vice president now owns 67,122 shares of the company’s stock, valued at approximately $5,677,178.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark M. Coyle sold 2,500 shares of Citrix Systems stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $88.90, for a total transaction of $222,250.00. Following the sale, the chief financial officer now directly owns 36,012 shares in the company, valued at approximately $3,201,466.80. The disclosure for this sale can be found here. Insiders sold a total of 98,530 shares of company stock worth $8,448,117 in the last three months. 0.44% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CTXS. Grove Bank & Trust boosted its stake in Citrix Systems by 50.0% during the 3rd quarter. Grove Bank & Trust now owns 2,303 shares of the cloud computing company’s stock worth $177,000 after purchasing an additional 768 shares during the last quarter. Intact Investment Management Inc. acquired a new stake in Citrix Systems during the 3rd quarter worth $215,000. Colony Group LLC acquired a new stake in Citrix Systems during the 2nd quarter worth $228,000. Quantitative Systematic Strategies LLC acquired a new stake in Citrix Systems during the 3rd quarter worth $251,000. Finally, Hillsdale Investment Management Inc. boosted its stake in Citrix Systems by 3,050.0% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,780 shares of the cloud computing company’s stock worth $300,000 after purchasing an additional 3,660 shares during the last quarter. 94.22% of the stock is currently owned by institutional investors.
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About Citrix Systems
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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