Laurion Capital Management LP reduced its stake in shares of Citrix Systems, Inc. (NASDAQ:CTXS) by 33.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 25,731 shares of the cloud computing company’s stock after selling 12,694 shares during the period. Laurion Capital Management LP’s holdings in Citrix Systems were worth $2,860,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Banque Pictet & Cie SA increased its holdings in Citrix Systems by 0.5% during the 2nd quarter. Banque Pictet & Cie SA now owns 82,451 shares of the cloud computing company’s stock worth $8,644,000 after purchasing an additional 450 shares in the last quarter. New Amsterdam Partners LLC NY increased its holdings in Citrix Systems by 16.5% during the 3rd quarter. New Amsterdam Partners LLC NY now owns 3,825 shares of the cloud computing company’s stock worth $425,000 after purchasing an additional 541 shares in the last quarter. South State Corp increased its holdings in Citrix Systems by 7.6% during the 3rd quarter. South State Corp now owns 8,245 shares of the cloud computing company’s stock worth $916,000 after purchasing an additional 579 shares in the last quarter. Commerce Bank increased its holdings in Citrix Systems by 15.2% during the 3rd quarter. Commerce Bank now owns 4,482 shares of the cloud computing company’s stock worth $498,000 after purchasing an additional 593 shares in the last quarter. Finally, Hartford Investment Management Co. increased its holdings in Citrix Systems by 2.9% during the 3rd quarter. Hartford Investment Management Co. now owns 21,577 shares of the cloud computing company’s stock worth $2,398,000 after purchasing an additional 608 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Paul J. Hough sold 8,483 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $103.16, for a total value of $875,106.28. Following the transaction, the executive vice president now owns 54,988 shares in the company, valued at $5,672,562.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Calderoni sold 2,128 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $110.14, for a total value of $234,377.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,783 shares of company stock worth $2,973,266. 0.56% of the stock is owned by company insiders.
CTXS stock opened at $107.37 on Friday. The company has a market capitalization of $14.73 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.72 and a beta of 1.37. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.82. Citrix Systems, Inc. has a 12-month low of $83.70 and a 12-month high of $116.82.
Citrix Systems (NASDAQ:CTXS) last released its earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $732.47 million during the quarter, compared to analyst estimates of $722.76 million. During the same period in the prior year, the company posted $1.22 earnings per share. Citrix Systems’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts anticipate that Citrix Systems, Inc. will post 4.39 earnings per share for the current fiscal year.
Citrix Systems declared that its board has approved a stock repurchase plan on Wednesday, October 24th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the cloud computing company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors 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 annualized dividend and a yield of 1.30%. Citrix Systems’s payout ratio is 33.82%.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Citrix Systems from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird reduced their target price on Citrix Systems from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. BidaskClub raised Citrix Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 1st. Wedbush assumed coverage on Citrix Systems in a report on Thursday, October 18th. They issued a “neutral” rating and a $115.00 target price for the company. Finally, Barclays upped their target price on Citrix Systems from $112.00 to $114.00 and gave the company an “equal weight” rating in a report on Friday, September 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $114.21.
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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.
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