Citrix Systems (CTXS) Rating Reiterated by Mizuho
Citrix Systems (NASDAQ:CTXS)‘s stock had its “buy” rating reaffirmed by analysts at Mizuho in a report issued on Wednesday.
The analysts wrote, “We believe mgmt. is likely to be more conservative in order to leave itself room to deliver upside; we expect an outlook around $4.60-4.70 vs. consensus of $4.84. Maintain Buy rating; raising PT to $101 from $92. In all, we think current valuation of around 13x our adjusted 2019 FCF estimates seems reasonable with potential for expansion as investors gain more visibility into the pace of the transition and FCF opportunity.””
Several other equities analysts have also commented on CTXS. Wells Fargo & Co raised Citrix Systems from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $82.50 to $95.00 in a research report on Monday, October 2nd. Zacks Investment Research lowered Citrix Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Robert W. Baird set a $90.00 price objective on Citrix Systems and gave the stock a “buy” rating in a report on Friday, October 6th. Royal Bank of Canada restated a “hold” rating and set a $85.00 price objective on shares of Citrix Systems in a report on Tuesday, October 10th. Finally, Stifel Nicolaus dropped their price objective on Citrix Systems from $77.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $89.00.
Citrix Systems (NASDAQ:CTXS) last released its quarterly earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.04 by $0.18. The firm had revenue of $691.00 million for the quarter, compared to analyst estimates of $691.61 million. Citrix Systems had a return on equity of 31.32% and a net margin of 15.67%. Citrix Systems’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 EPS. sell-side analysts anticipate that Citrix Systems will post 3.93 earnings per share for the current year.
Citrix Systems announced that its Board of Directors has authorized a share buyback plan on Monday, November 13th that permits the company to repurchase $1.70 billion in shares. This repurchase authorization permits the cloud computing company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
In other news, insider Robert Calderoni sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $85.61, for a total value of $5,136,600.00. Following the completion of the sale, the insider now directly owns 178,706 shares in the company, valued at approximately $15,299,020.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David J. Henshall sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $84.25, for a total value of $1,053,125.00. Following the completion of the sale, the chief executive officer now owns 306,777 shares of the company’s stock, valued at $25,845,962.25. The disclosure for this sale can be found here. Insiders sold a total of 98,530 shares of company stock valued at $8,448,117 over the last quarter. Company insiders own 0.44% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Checchi Capital Advisers LLC boosted its position in Citrix Systems by 3.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,304 shares of the cloud computing company’s stock valued at $104,000 after purchasing an additional 49 shares during the period. Quadrant Capital Group LLC boosted its position in Citrix Systems by 2.6% during the 1st quarter. Quadrant Capital Group LLC now owns 1,396 shares of the cloud computing company’s stock valued at $113,000 after purchasing an additional 35 shares during the period. YorkBridge Wealth Partners LLC boosted its position in Citrix Systems by 75.5% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,562 shares of the cloud computing company’s stock valued at $127,000 after purchasing an additional 672 shares during the period. Global X Management Co. LLC boosted its position in Citrix Systems by 82.7% during the 2nd quarter. Global X Management Co. LLC now owns 1,745 shares of the cloud computing company’s stock valued at $140,000 after purchasing an additional 790 shares during the period. Finally, Fifth Third Bancorp boosted its position in Citrix Systems by 10.3% during the 1st quarter. Fifth Third Bancorp now owns 1,825 shares of the cloud computing company’s stock valued at $152,000 after purchasing an additional 171 shares during the period. Institutional investors and hedge funds own 94.23% of the company’s stock.
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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