Citrix Systems, Inc. (CTXS) Position Lifted by Cadence Capital Management LLC

Cadence Capital Management LLC boosted its holdings in shares of Citrix Systems, Inc. (NASDAQ:CTXS) by 20.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,662 shares of the cloud computing company’s stock after buying an additional 2,490 shares during the period. Cadence Capital Management LLC’s holdings in Citrix Systems were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Stratos Wealth Partners LTD. acquired a new position in Citrix Systems during the third quarter valued at $102,000. Fort L.P. acquired a new position in Citrix Systems during the second quarter valued at $120,000. Piedmont Investment Advisors LLC acquired a new position in Citrix Systems during the second quarter valued at $153,000. Itau Unibanco Holding S.A. acquired a new position in Citrix Systems during the second quarter valued at $163,000. Finally, Advisors Preferred LLC acquired a new position in Citrix Systems during the second quarter valued at $172,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently weighed in on CTXS. BidaskClub lowered Citrix Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Wells Fargo & Co upped their price target on Citrix Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. Robert W. Baird dropped their price target on Citrix Systems from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. Citigroup upped their price target on Citrix Systems from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, October 25th. Finally, Stifel Nicolaus upped their price target on Citrix Systems from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Citrix Systems presently has a consensus rating of “Hold” and an average price target of $113.93.

In other news, VP Jessica Soisson sold 1,136 shares of the company’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $113.78, for a total transaction of $129,254.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Robert Calderoni sold 2,128 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $102.34, for a total value of $217,779.52. Following the sale, the chairman now owns 138,772 shares of the company’s stock, valued at approximately $14,201,926.48. The disclosure for this sale can be found here. Insiders sold 21,641 shares of company stock worth $2,315,751 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Shares of NASDAQ CTXS opened at $107.01 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.98. Citrix Systems, Inc. has a one year low of $83.11 and a one year high of $116.82. The stock has a market capitalization of $14.29 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 2.65 and a beta of 1.36.

Citrix Systems (NASDAQ:CTXS) last issued its earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.15. Citrix Systems had a return on equity of 91.46% and a net margin of 4.27%. The firm had revenue of $732.47 million for the quarter, compared to the consensus estimate of $722.76 million. During the same quarter in the previous year, the company posted $1.22 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that Citrix Systems, Inc. will post 4.38 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.31%.

Citrix Systems announced that its board has initiated a stock repurchase program on Wednesday, October 24th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the cloud computing company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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Citrix Systems Company Profile

Citrix Systems, Inc delivers solutions to secure and access applications worldwide. The company offers workspace services, including XenDesktop, a cloud-enabled desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for Citrix Systems (NASDAQ:CTXS)

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