Citrix Systems (CTXS) Raised to “Hold” at BidaskClub

Citrix Systems (NASDAQ:CTXS) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

CTXS has been the subject of a number of other reports. Citigroup lowered their price objective on shares of Citrix Systems from $96.00 to $94.00 and set a “buy” rating for the company in a report on Friday, October 27th. Zacks Investment Research lowered shares of Citrix Systems from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. KeyCorp restated a “hold” rating on shares of Citrix Systems in a report on Friday, November 10th. Goldman Sachs Group upgraded shares of Citrix Systems from a “neutral” rating to a “buy” rating and set a $109.00 price objective for the company in a report on Friday, November 3rd. Finally, Robert W. Baird restated a “buy” rating on shares of Citrix Systems in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Citrix Systems currently has an average rating of “Hold” and a consensus price target of $89.50.

Shares of Citrix Systems (CTXS) traded up $1.34 during trading on Friday, reaching $92.72. 1,205,832 shares of the company’s stock traded hands, compared to its average volume of 1,027,299. Citrix Systems has a twelve month low of $70.24 and a twelve month high of $92.87. The company has a market capitalization of $13,768.72, a price-to-earnings ratio of 31.43, a PEG ratio of 4.51 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 announced its earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.18. Citrix Systems had a net margin of 15.67% and a return on equity of 31.32%. The business had revenue of $691.00 million during the quarter, compared to analyst estimates of $691.61 million. During the same period in the previous year, the business posted $1.32 earnings per share. Citrix Systems’s revenue for the quarter was up 3.3% on a year-over-year basis. analysts anticipate that Citrix Systems will post 3.93 EPS for the current year.

Citrix Systems announced that its board has approved a share buyback plan on Monday, November 13th that permits the company to buyback $1.70 billion in shares. This buyback authorization permits the cloud computing company to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

In other Citrix Systems news, CFO Mark M. Coyle sold 2,500 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $88.90, for a total transaction of $222,250.00. Following the transaction, the chief financial officer now directly owns 36,012 shares of the company’s stock, valued at approximately $3,201,466.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Rotterdam Jeroen Van sold 8,530 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $84.58, for a total transaction of $721,467.40. Following the transaction, the senior vice president now directly owns 67,122 shares in the company, valued at $5,677,178.76. The disclosure for this sale can be found here. Insiders have sold a total of 98,530 shares of company stock valued at $8,448,117 over the last quarter. 0.44% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. LSV Asset Management purchased a new stake in shares of Citrix Systems in the 2nd quarter worth about $851,000. Ameriprise Financial Inc. grew its position in shares of Citrix Systems by 10.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 422,841 shares of the cloud computing company’s stock worth $33,641,000 after buying an additional 38,817 shares during the period. Amalgamated Bank grew its position in shares of Citrix Systems by 50.4% in the 2nd quarter. Amalgamated Bank now owns 17,686 shares of the cloud computing company’s stock worth $1,407,000 after buying an additional 5,930 shares during the period. Laurion Capital Management LP grew its position in shares of Citrix Systems by 26.7% in the 2nd quarter. Laurion Capital Management LP now owns 15,200 shares of the cloud computing company’s stock worth $1,210,000 after buying an additional 3,200 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Citrix Systems by 3.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 11,521 shares of the cloud computing company’s stock worth $918,000 after buying an additional 389 shares during the period. 94.23% of the stock is currently 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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