Dynamic Technology Lab Private Ltd bought a new position in Citrix Systems, Inc. (NASDAQ:CTXS) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 13,986 shares of the cloud computing company’s stock, valued at approximately $1,554,000.
A number of other institutional investors also recently made changes to their positions in the stock. Tocqueville Asset Management L.P. raised its holdings in Citrix Systems by 81.3% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 5,473 shares of the cloud computing company’s stock worth $608,000 after purchasing an additional 2,455 shares during the period. First Republic Investment Management Inc. raised its holdings in Citrix Systems by 12.5% in the 3rd quarter. First Republic Investment Management Inc. now owns 23,953 shares of the cloud computing company’s stock worth $2,663,000 after purchasing an additional 2,665 shares during the period. Riverhead Capital Management LLC raised its holdings in Citrix Systems by 24.8% in the 3rd quarter. Riverhead Capital Management LLC now owns 26,088 shares of the cloud computing company’s stock worth $2,900,000 after purchasing an additional 5,180 shares during the period. Cito Capital Group LLC bought a new position in Citrix Systems in the 3rd quarter worth $556,000. Finally, Bridgewater Associates LP bought a new position in Citrix Systems in the 3rd quarter worth $5,075,000. 99.76% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on CTXS shares. Bank of America decreased their target price on Citrix Systems from $123.00 to $116.00 and set a “neutral” rating on the stock in a report on Thursday, October 25th. Barclays raised their target price on Citrix Systems from $112.00 to $114.00 and gave the stock an “equal weight” rating in a report on Friday, September 7th. BidaskClub raised Citrix Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 1st. Wedbush started coverage on Citrix Systems in a report on Thursday, October 18th. They issued a “neutral” rating and a $115.00 target price on the stock. Finally, Citigroup raised their target price on Citrix Systems from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, October 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $114.21.
Shares of CTXS stock opened at $107.37 on Friday. Citrix Systems, Inc. has a 52-week low of $83.70 and a 52-week high of $116.82. 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 firm has a market capitalization of $14.73 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 2.72 and a beta of 1.37.
Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. Citrix Systems had a return on equity of 91.46% and a net margin of 4.27%. The business had revenue of $732.47 million during the quarter, compared to analyst estimates of $722.76 million. During the same quarter in the prior year, the business posted $1.22 EPS. Citrix Systems’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts expect that Citrix Systems, Inc. will post 4.39 EPS for the current year.
The firm also recently declared 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 1.30%. Citrix Systems’s payout ratio is presently 33.82%.
Citrix Systems declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 24th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the cloud computing company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Citrix Systems news, EVP Timothy A. Minahan sold 5,890 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $109.40, for a total value of $644,366.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the executive vice president now owns 62,013 shares of the company’s stock, valued at approximately $6,660,816.33. The disclosure for this sale can be found here. Insiders sold a total of 27,783 shares of company stock valued at $2,973,266 in the last quarter. 0.56% of the stock is currently owned by company insiders.
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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