Citrix Systems, Inc. (CTXS) Sees Significant Growth in Short Interest
Citrix Systems, Inc. (NASDAQ:CTXS) was the recipient of a significant increase in short interest in November. As of November 30th, there was short interest totalling 11,158,596 shares, an increase of 103.0% from the November 15th total of 5,495,756 shares. Currently, 7.5% of the company’s shares are short sold. Based on an average trading volume of 1,531,687 shares, the short-interest ratio is currently 7.3 days.
CTXS has been the topic of a number of research reports. Robert W. Baird set a $90.00 price target on Citrix Systems and gave the company a “buy” rating in a report on Friday, October 6th. Mizuho restated a “buy” rating and issued a $94.00 price target (up from $92.00) on shares of Citrix Systems in a report on Wednesday, October 25th. Citigroup cut their price target on Citrix Systems from $96.00 to $94.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Goldman Sachs Group upgraded Citrix Systems from a “neutral” rating to a “buy” rating and set a $109.00 price target on the stock in a report on Friday, November 3rd. Finally, KeyCorp restated a “hold” rating on shares of Citrix Systems in a report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $89.50.
In other Citrix Systems news, CEO David J. Henshall sold 12,500 shares of Citrix Systems stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $88.31, for a total transaction of $1,103,875.00. Following the transaction, the chief executive officer now directly owns 294,277 shares in the company, valued at $25,987,601.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark M. Coyle sold 2,500 shares of Citrix Systems stock in a transaction dated Wednesday, November 8th. The stock was 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 in the company, valued at $3,247,331.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,030 shares of company stock worth $8,225,867. Corporate insiders own 0.44% of the company’s stock.
Shares of Citrix Systems (NASDAQ CTXS) opened at $87.22 on Wednesday. Citrix Systems has a twelve month low of $70.24 and a twelve month high of $88.96. The stock has a market capitalization of $13,197.66, a PE ratio of 21.31, a P/E/G ratio of 4.18 and a beta of 1.40. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.69.
Citrix Systems (NASDAQ:CTXS) last released its earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $691.00 million for the quarter, compared to analyst estimates of $691.61 million. During the same quarter in the prior year, the company posted $1.32 earnings per share. Citrix Systems’s revenue was up 3.3% on a year-over-year basis. analysts expect that Citrix Systems will post 3.93 EPS for the current fiscal year.
Citrix Systems announced that its board has initiated a stock repurchase program on Monday, November 13th that authorizes the company to buyback $1.70 billion in outstanding shares. This buyback authorization authorizes the cloud computing company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
TRADEMARK VIOLATION WARNING: This report was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2017/12/13/citrix-systems-inc-ctxs-sees-significant-growth-in-short-interest.html.
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.
Receive News & Ratings for Citrix Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citrix Systems and related companies with MarketBeat.com's FREE daily email newsletter.