Shell Asset Management Co. Sells 1,115 Shares of Citrix Systems, Inc. (CTXS)
Shell Asset Management Co. reduced its position in Citrix Systems, Inc. (NASDAQ:CTXS) by 10.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,729 shares of the cloud computing company’s stock after selling 1,115 shares during the quarter. Shell Asset Management Co.’s holdings in Citrix Systems were worth $1,081,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Banque Pictet & Cie SA increased its stake in Citrix Systems by 0.5% in the 2nd quarter. Banque Pictet & Cie SA now owns 82,451 shares of the cloud computing company’s stock valued at $8,644,000 after buying an additional 450 shares during the period. New Amsterdam Partners LLC NY boosted its position in shares of Citrix Systems by 16.5% during the 3rd quarter. New Amsterdam Partners LLC NY now owns 3,825 shares of the cloud computing company’s stock worth $425,000 after purchasing an additional 541 shares in the last quarter. South State Corp boosted its position in shares of Citrix Systems by 7.6% during the 3rd quarter. South State Corp now owns 8,245 shares of the cloud computing company’s stock worth $916,000 after purchasing an additional 579 shares in the last quarter. Commerce Bank boosted its position in shares of Citrix Systems by 15.2% during the 3rd quarter. Commerce Bank now owns 4,482 shares of the cloud computing company’s stock worth $498,000 after purchasing an additional 593 shares in the last quarter. Finally, Hartford Investment Management Co. boosted its position in shares of Citrix Systems by 2.9% during the 3rd quarter. Hartford Investment Management Co. now owns 21,577 shares of the cloud computing company’s stock worth $2,398,000 after purchasing an additional 608 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.
In related news, EVP Paul J. Hough sold 8,483 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $103.16, for a total value of $875,106.28. Following the sale, the executive vice president now directly owns 54,988 shares in the company, valued at approximately $5,672,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Rotterdam Jeroen Van sold 7,766 shares of the business’s stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $109.78, for a total transaction of $852,551.48. Following the completion of the sale, the executive vice president now owns 59,685 shares in the company, valued at $6,552,219.30. The disclosure for this sale can be found here. Insiders sold a total of 27,783 shares of company stock worth $2,973,266 over the last quarter. Insiders own 0.56% of the company’s stock.
Citrix Systems (NASDAQ:CTXS) last released its quarterly earnings data on Wednesday, October 24th. The cloud computing company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.25 by $0.15. Citrix Systems had a net margin of 4.27% and a return on equity of 91.46%. The business had revenue of $732.47 million for the quarter, compared to analyst estimates of $722.76 million. During the same period in the previous year, the firm earned $1.22 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts forecast that Citrix Systems, Inc. will post 4.39 EPS for the current fiscal year.
Citrix Systems announced that its board has approved a stock repurchase program on Wednesday, October 24th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the cloud computing company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be given a $0.35 dividend. The ex-dividend date is Thursday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.29%.
Several equities research analysts have commented on CTXS shares. BidaskClub upgraded shares of Citrix Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 1st. Barclays boosted their target price on shares of Citrix Systems from $112.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Friday, September 7th. Wedbush started coverage on shares of Citrix Systems in a research report on Thursday, October 18th. They set a “neutral” rating and a $115.00 target price on the stock. Bank of America decreased their target price on shares of Citrix Systems from $123.00 to $116.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. Finally, Citigroup boosted their target price on shares of Citrix Systems from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, October 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Citrix Systems presently has a consensus rating of “Hold” and an average target price of $114.21.
Citrix Systems Company Profile
Citrix Systems, Inc delivers solutions to secure and access applications worldwide. The company offers workspace services, including XenDesktop, a cloud-enabled desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients.
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