Bridgewater Associates LP bought a new position in Citrix Systems, Inc. (NASDAQ:CTXS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 45,651 shares of the cloud computing company’s stock, valued at approximately $5,075,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bain Capital Public Equity Management LLC boosted its stake in shares of Citrix Systems by 24.4% during the second quarter. Bain Capital Public Equity Management LLC now owns 852,065 shares of the cloud computing company’s stock valued at $89,330,000 after purchasing an additional 167,031 shares during the period. Pensionfund Sabic purchased a new stake in shares of Citrix Systems during the third quarter valued at approximately $1,779,000. ING Groep NV purchased a new stake in shares of Citrix Systems during the second quarter valued at approximately $3,406,000. SP Asset Management purchased a new stake in shares of Citrix Systems during the second quarter valued at approximately $465,000. Finally, First Republic Investment Management Inc. boosted its stake in shares of Citrix Systems by 21.4% during the second quarter. First Republic Investment Management Inc. now owns 21,288 shares of the cloud computing company’s stock valued at $2,231,000 after purchasing an additional 3,749 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.
Shares of Citrix Systems stock opened at $108.97 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The company has a market cap of $14.68 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 2.71 and a beta of 1.37. Citrix Systems, Inc. has a 52 week low of $83.70 and a 52 week high of $116.82.
Citrix Systems (NASDAQ:CTXS) last announced 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. The company had revenue of $732.47 million during the quarter, compared to the consensus estimate of $722.76 million. Citrix Systems had a return on equity of 91.46% and a net margin of 4.27%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 earnings per share. On average, equities analysts predict that Citrix Systems, Inc. will post 4.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.28%.
Citrix Systems declared that its board has initiated a share repurchase program on Wednesday, October 24th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the cloud computing company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
CTXS has been the subject of a number of analyst reports. Robert W. Baird dropped their price objective on Citrix Systems from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. Wedbush initiated coverage on Citrix Systems in a research note on Thursday, October 18th. They set a “neutral” rating and a $115.00 price objective for the company. Citigroup increased their price objective on Citrix Systems from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, October 25th. Zacks Investment Research raised Citrix Systems from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research note on Monday, November 19th. Finally, BidaskClub raised Citrix Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $114.21.
In other Citrix Systems news, EVP Mark J. Ferrer sold 1,388 shares of the stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $107.41, for a total value of $149,085.08. Following the completion of the transaction, the executive vice president now owns 62,013 shares in the company, valued at $6,660,816.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Robert Calderoni sold 2,128 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $102.34, for a total value of $217,779.52. Following the completion of the transaction, 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. In the last 90 days, insiders have sold 21,893 shares of company stock valued at $2,335,582. 0.56% of the stock is owned by corporate insiders.
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Citrix Systems 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.
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