Icon Wealth Partners LLC Purchases New Stake in Citrix Systems, Inc. (CTXS)
Icon Wealth Partners LLC purchased a new position in shares of Citrix Systems, Inc. (NASDAQ:CTXS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,949 shares of the cloud computing company’s stock, valued at approximately $172,000.
Several other hedge funds also recently modified their holdings of CTXS. NuWave Investment Management LLC bought a new position in shares of Citrix Systems during the fourth quarter worth about $107,000. Advisory Services Network LLC lifted its position in shares of Citrix Systems by 346.8% during the fourth quarter. Advisory Services Network LLC now owns 1,479 shares of the cloud computing company’s stock worth $130,000 after purchasing an additional 1,148 shares during the last quarter. Grove Bank & Trust lifted its position in shares of Citrix Systems by 50.0% during the third 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. Itau Unibanco Holding S.A. lifted its position in shares of Citrix Systems by 197.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 2,090 shares of the cloud computing company’s stock worth $184,000 after purchasing an additional 1,388 shares during the last quarter. Finally, Rational Advisors LLC bought a new position in shares of Citrix Systems during the fourth quarter worth about $194,000. 92.00% of the stock is currently owned by institutional investors and hedge funds.
CTXS has been the topic of several research analyst reports. Zacks Investment Research cut shares of Citrix Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. KeyCorp reaffirmed a “hold” rating on shares of Citrix Systems in a research report on Friday, November 10th. Stifel Nicolaus increased their price target on shares of Citrix Systems from $86.00 to $88.00 and gave the stock a “hold” rating in a research report on Thursday, February 1st. Robert W. Baird reaffirmed a “buy” rating on shares of Citrix Systems in a research report on Thursday, January 18th. Finally, Sanford C. Bernstein increased their price target on shares of Citrix Systems from $95.00 to $106.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $91.31.
Citrix Systems (NASDAQ:CTXS) last issued its earnings results on Wednesday, January 31st. The cloud computing company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.06. Citrix Systems had a negative net margin of 0.73% and a positive return on equity of 38.56%. The firm had revenue of $777.90 million for the quarter, compared to analysts’ expectations of $778.49 million. During the same quarter last year, the company posted $1.61 earnings per share. Citrix Systems’s revenue was up 5.9% on a year-over-year basis. equities analysts expect that Citrix Systems, Inc. will post 3.91 EPS for the current fiscal year.
Citrix Systems announced that its board has authorized a share buyback plan on Monday, November 13th that allows the company to buyback $1.70 billion in outstanding shares. This buyback authorization allows the cloud computing company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In other news, CFO Mark M. Coyle sold 2,500 shares of Citrix Systems stock in a transaction that occurred 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 owns 36,012 shares of the company’s stock, valued at $3,201,466.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David J. Henshall sold 12,500 shares of Citrix Systems stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $92.62, for a total value of $1,157,750.00. Following the sale, the chief executive officer now directly owns 281,777 shares in the company, valued at approximately $26,098,185.74. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.
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Citrix Systems 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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