Investors Buy Shares of Citrix Systems (CTXS) on Weakness
Traders purchased shares of Citrix Systems, Inc. (NASDAQ:CTXS) on weakness during trading hours on Thursday. $52.09 million flowed into the stock on the tick-up and $14.30 million flowed out of the stock on the tick-down, for a money net flow of $37.79 million into the stock. Of all stocks tracked, Citrix Systems had the 22nd highest net in-flow for the day. Citrix Systems traded down ($0.10) for the day and closed at $87.05
A number of research firms recently weighed in on CTXS. BidaskClub downgraded Citrix Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 2nd. Robert W. Baird restated a “buy” rating and issued a $90.00 target price on shares of Citrix Systems in a research report on Sunday, November 19th. KeyCorp restated 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, Zacks Investment Research upgraded Citrix Systems from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $89.50.
The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.69. The firm has a market cap of $13,141.91, a PE ratio of 21.22, a price-to-earnings-growth ratio of 4.17 and a beta of 1.40.
Citrix Systems (NASDAQ:CTXS) last announced its quarterly earnings data on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 the consensus estimate of $691.61 million. During the same quarter in the previous year, the company posted $1.32 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. equities analysts predict that Citrix Systems, Inc. will post 3.93 earnings per share for the current year.
Citrix Systems announced that its Board of Directors has authorized a stock buyback plan on Monday, November 13th that authorizes the company to repurchase $1.70 billion in shares. This repurchase authorization authorizes the cloud computing company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In related news, CEO David J. Henshall sold 12,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 306,777 shares in the company, valued at $25,845,962.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mark M. Coyle sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $84.32, for a total value of $210,800.00. Following the transaction, the chief financial officer now owns 38,512 shares of the company’s stock, valued at approximately $3,247,331.84. The disclosure for this sale can be found here. Insiders sold 96,030 shares of company stock valued at $8,225,867 in the last quarter. Corporate insiders own 0.44% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Farallon Capital Management LLC raised its holdings in shares of Citrix Systems by 8.2% during the second quarter. Farallon Capital Management LLC now owns 1,606,673 shares of the cloud computing company’s stock valued at $127,859,000 after acquiring an additional 121,549 shares in the last quarter. BT Investment Management Ltd raised its holdings in shares of Citrix Systems by 11.7% during the third quarter. BT Investment Management Ltd now owns 1,314,871 shares of the cloud computing company’s stock valued at $101,020,000 after acquiring an additional 138,032 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Citrix Systems by 0.9% during the third quarter. Schroder Investment Management Group now owns 1,267,628 shares of the cloud computing company’s stock valued at $97,221,000 after acquiring an additional 10,876 shares in the last quarter. Numeric Investors LLC raised its holdings in shares of Citrix Systems by 61.4% during the second quarter. Numeric Investors LLC now owns 1,156,334 shares of the cloud computing company’s stock valued at $92,021,000 after acquiring an additional 439,821 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Citrix Systems by 22.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,100,626 shares of the cloud computing company’s stock valued at $87,588,000 after acquiring an additional 200,291 shares in the last quarter. Institutional investors own 94.42% of the company’s stock.
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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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