Citrix Systems (CTXS) Downgraded to “Equal Weight” at Barclays
Barclays downgraded shares of Citrix Systems (NASDAQ:CTXS) from an overweight rating to an equal weight rating in a research report sent to investors on Monday, MarketBeat reports. They currently have $90.00 price objective on the cloud computing company’s stock.
Other analysts also recently issued research reports about the stock. Robert W. Baird reissued a buy rating and issued a $90.00 price objective on shares of Citrix Systems in a report on Sunday, November 19th. Mizuho reissued a buy rating and issued a $94.00 price objective (up previously from $92.00) on shares of Citrix Systems in a report on Wednesday, October 25th. Citigroup cut their price objective on shares of Citrix Systems from $96.00 to $94.00 and set a buy rating for the company in a report on Friday, October 27th. Goldman Sachs Group raised shares of Citrix Systems from a neutral rating to a buy rating and set a $109.00 price objective for the company in a report on Friday, November 3rd. Finally, Zacks Investment Research raised shares of Citrix Systems from a sell rating to a hold rating in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $89.50.
Shares of Citrix Systems (NASDAQ CTXS) opened at $90.82 on Monday. The company has a market cap of $13,680.00, a PE ratio of 28.20, a P/E/G ratio of 4.52 and a beta of 1.41. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.43 and a current ratio of 1.44. Citrix Systems has a twelve month low of $70.24 and a twelve month high of $91.83.
Citrix Systems (NASDAQ:CTXS) last announced its earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.04 by $0.18. The business had revenue of $691.00 million during the quarter, compared to the consensus estimate of $691.61 million. Citrix Systems had a net margin of 15.67% and a return on equity of 31.32%. Citrix Systems’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 EPS. analysts forecast that Citrix Systems will post 3.93 earnings per share for the current fiscal year.
Citrix Systems announced that its Board of Directors has authorized a share buyback program on Monday, November 13th that permits the company to buyback $1.70 billion in shares. This buyback authorization permits the cloud computing company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other news, CEO David J. Henshall sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $84.25, for a total transaction of $1,053,125.00. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Calderoni sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $85.61, for a total transaction of $5,136,600.00. Following the sale, the insider now directly owns 178,706 shares of the company’s stock, valued at approximately $15,299,020.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,530 shares of company stock valued at $8,448,117. 0.44% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Grove Bank & Trust lifted its holdings in shares of 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 acquiring an additional 768 shares during the period. Intact Investment Management Inc. bought a new stake in shares of Citrix Systems during the 3rd quarter worth approximately $215,000. Colony Group LLC bought a new stake in shares of Citrix Systems during the 2nd quarter worth approximately $228,000. Quantitative Systematic Strategies LLC acquired a new position in Citrix Systems during the 3rd quarter worth approximately $251,000. Finally, Hillsdale Investment Management Inc. increased its position 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 in the last quarter. 94.22% of the stock is owned by institutional investors.
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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