Citrix Systems (NASDAQ:CTXS) had its price target hoisted by analysts at Sanford C. Bernstein from $95.00 to $106.00 in a note issued to investors on Thursday. The firm currently has an “outperform” rating on the cloud computing company’s stock. Sanford C. Bernstein’s price target indicates a potential upside of 13.45% from the stock’s current price.
Other research analysts have also issued reports about the stock. Stifel Nicolaus restated a “hold” rating and set a $88.00 price objective (up from $86.00) on shares of Citrix Systems in a research note on Thursday. Bank of America boosted their price objective on shares of Citrix Systems from $91.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley boosted their price objective on shares of Citrix Systems from $82.00 to $84.00 and gave the stock an “underweight” rating in a research note on Thursday. Mizuho restated a “buy” rating and set a $101.00 price objective on shares of Citrix Systems in a research note on Wednesday. Finally, Robert W. Baird restated a “buy” rating on shares of Citrix Systems in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. Citrix Systems currently has an average rating of “Hold” and a consensus price target of $91.31.
Shares of Citrix Systems (NASDAQ CTXS) traded up $0.67 during mid-day trading on Thursday, reaching $93.43. 2,375,982 shares of the company’s stock traded hands, compared to its average volume of 1,335,197. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.69. Citrix Systems has a 12-month low of $71.00 and a 12-month high of $95.00. The firm has a market cap of $13,970.00, a price-to-earnings ratio of 3,114.67, a P/E/G ratio of 4.58 and a beta of 1.41.
Citrix Systems declared that its Board of Directors has approved a share buyback plan on Monday, November 13th that authorizes the company to repurchase $1.70 billion in outstanding shares. This repurchase authorization authorizes the cloud computing company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
In related news, CFO Mark M. Coyle sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $88.90, for a total value of $222,250.00. Following the transaction, the chief financial officer now owns 36,012 shares in the company, valued at approximately $3,201,466.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David J. Henshall sold 12,500 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $84.25, for a total transaction of $1,053,125.00. Following the completion of the transaction, the chief executive officer now owns 306,777 shares in the company, valued at approximately $25,845,962.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,530 shares of company stock worth $8,448,117. 0.44% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CTXS. Koch Industries Inc. boosted its holdings in Citrix Systems by 12,490.5% in the 2nd quarter. Koch Industries Inc. now owns 724,333 shares of the cloud computing company’s stock valued at $715,000 after purchasing an additional 718,580 shares during the period. Bank of Nova Scotia boosted its holdings in Citrix Systems by 1,955.1% in the 2nd quarter. Bank of Nova Scotia now owns 734,618 shares of the cloud computing company’s stock valued at $58,461,000 after purchasing an additional 698,872 shares during the period. Toronto Dominion Bank boosted its holdings in Citrix Systems by 64.8% in the 2nd quarter. Toronto Dominion Bank now owns 811,572 shares of the cloud computing company’s stock valued at $64,572,000 after purchasing an additional 319,076 shares during the period. Old Mutual Global Investors UK Ltd. boosted its holdings in Citrix Systems by 35.7% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 943,697 shares of the cloud computing company’s stock valued at $72,494,000 after purchasing an additional 248,454 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Citrix Systems in the 3rd quarter valued at about $18,414,000. 92.16% of the stock is owned by hedge funds and other institutional investors.
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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.
