Citrix Systems (CTXS) Lifted to Buy at ValuEngine
ValuEngine upgraded shares of Citrix Systems (NASDAQ:CTXS) from a hold rating to a buy rating in a research report released on Thursday morning.
CTXS has been the subject of several other reports. Robert W. Baird restated a buy rating on shares of Citrix Systems in a research report on Thursday, January 18th. BidaskClub downgraded Citrix Systems from a sell rating to a strong sell rating in a report on Saturday, December 2nd. Barclays downgraded Citrix Systems from an overweight rating to an equal weight rating and set a $90.00 price target for the company. in a report on Monday, January 8th. KeyCorp reiterated a hold rating on shares of Citrix Systems in a report on Friday, November 10th. Finally, Goldman Sachs Group upgraded Citrix Systems from a neutral rating to a buy rating and set a $109.00 price target for the company in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $91.31.
Shares of Citrix Systems (NASDAQ CTXS) traded up $1.17 during trading on Thursday, hitting $91.98. The company had a trading volume of 3,250,133 shares, compared to its average volume of 2,006,849. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.55 and a quick ratio of 1.55. Citrix Systems has a 1 year low of $73.33 and a 1 year high of $95.00. The firm has a market cap of $12,523.17, a P/E ratio of 22.16, a P/E/G ratio of 2.90 and a beta of 1.29.
Citrix Systems announced that its Board of Directors has initiated a stock buyback plan on Monday, November 13th that authorizes the company to buyback $1.70 billion in shares. This buyback authorization authorizes the cloud computing company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO David J. Henshall sold 12,500 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $92.62, for a total transaction of $1,157,750.00. Following the completion of the sale, the chief executive officer now directly owns 281,777 shares of the company’s stock, valued at approximately $26,098,185.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark M. Coyle sold 2,500 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were 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 of the company’s stock, valued at $3,201,466.80. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CTXS. NuWave Investment Management LLC purchased a new stake in shares of Citrix Systems during the 4th quarter valued at $107,000. Advisory Services Network LLC grew its stake in shares of Citrix Systems by 346.8% during the 4th quarter. Advisory Services Network LLC now owns 1,479 shares of the cloud computing company’s stock valued at $130,000 after buying an additional 1,148 shares during the period. Icon Wealth Partners LLC purchased a new stake in shares of Citrix Systems during the 4th quarter valued at $172,000. Grove Bank & Trust grew its stake 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 valued at $177,000 after buying an additional 768 shares during the period. Finally, Itau Unibanco Holding S.A. grew its stake in shares of Citrix Systems by 197.7% during the 4th quarter. Itau Unibanco Holding S.A. now owns 2,090 shares of the cloud computing company’s stock valued at $184,000 after buying an additional 1,388 shares during the period. 92.00% of the stock is owned by institutional investors.
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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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