Citrix Systems (CTXS) Stock Rating Reaffirmed by Robert W. Baird

Citrix Systems (NASDAQ:CTXS)‘s stock had its “buy” rating restated by equities researchers at Robert W. Baird in a research note issued to investors on Thursday.

A number of other equities analysts have also commented on the stock. Goldman Sachs Group upgraded shares of Citrix Systems from a “neutral” rating to a “buy” rating and set a $109.00 price objective on the stock in a report on Friday, November 3rd. Zacks Investment Research lowered shares of Citrix Systems from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Citigroup cut their price objective on shares of Citrix Systems from $96.00 to $94.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Stifel Nicolaus cut their price objective on shares of Citrix Systems from $77.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 26th. Finally, KeyCorp reiterated a “hold” rating on shares of Citrix Systems in a report on Friday, November 10th. Two 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 company presently has an average rating of “Hold” and an average target price of $89.50.

Shares of Citrix Systems (CTXS) traded up $1.05 during mid-day trading on Thursday, reaching $90.70. 987,475 shares of the company’s stock were exchanged, compared to its average volume of 1,140,267. Citrix Systems has a 52-week low of $70.24 and a 52-week high of $90.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.44 and a quick ratio of 1.43. The firm has a market cap of $13,670.00, a price-to-earnings ratio of 28.17, a P/E/G ratio of 4.38 and a beta of 1.41.

Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings data on Wednesday, October 25th. The cloud computing company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. Citrix Systems had a net margin of 15.67% and a return on equity of 31.32%. The firm had revenue of $691.00 million for the quarter, compared to analyst estimates of $691.61 million. During the same quarter in the previous year, the business posted $1.32 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. research analysts predict that Citrix Systems will post 3.93 EPS for the current fiscal year.

Citrix Systems announced that its board has authorized a stock buyback program 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. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In related news, CFO Mark M. Coyle sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $84.32, for a total transaction of $210,800.00. Following the completion of the sale, the chief financial officer now owns 38,512 shares of the company’s stock, valued at approximately $3,247,331.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David J. Henshall sold 12,500 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $88.31, for a total transaction of $1,103,875.00. Following the sale, the chief executive officer now directly owns 294,277 shares of the company’s stock, valued at approximately $25,987,601.87. The disclosure for this sale can be found here. Insiders sold a total of 96,030 shares of company stock valued at $8,225,867 in the last three months. Insiders own 0.44% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Veritable L.P. grew its position in shares of Citrix Systems by 0.3% during the 2nd quarter. Veritable L.P. now owns 4,477 shares of the cloud computing company’s stock valued at $356,000 after buying an additional 15 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Citrix Systems by 1.2% during the 2nd quarter. D.A. Davidson & CO. now owns 23,240 shares of the cloud computing company’s stock valued at $1,849,000 after buying an additional 265 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Citrix Systems by 6.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 5,305 shares of the cloud computing company’s stock valued at $422,000 after buying an additional 322 shares during the last quarter. Norinchukin Bank The grew its position in shares of Citrix Systems by 3.2% during the 2nd quarter. Norinchukin Bank The now owns 10,488 shares of the cloud computing company’s stock valued at $835,000 after buying an additional 328 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Citrix Systems by 3.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 11,521 shares of the cloud computing company’s stock valued at $918,000 after buying an additional 389 shares during the last quarter. 94.22% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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