Citrix Systems (NASDAQ:CTXS) had its target price hoisted by Morgan Stanley from $82.00 to $84.00 in a research report issued on Thursday. The brokerage presently has an “underweight” rating on the cloud computing company’s stock. Morgan Stanley’s target price indicates a potential downside of 10.09% from the stock’s previous close.
Several other brokerages have also recently commented on CTXS. Stifel Nicolaus dropped their price target on Citrix Systems from $77.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 26th. Bank of America boosted their price target on Citrix Systems from $91.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday. BidaskClub upgraded Citrix Systems from a “strong sell” rating to a “sell” rating in a research report on Friday, January 5th. Robert W. Baird set a $90.00 price target on Citrix Systems and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, Mizuho reiterated a “buy” rating and set a $101.00 price target (up from $92.00) on shares of Citrix Systems in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Citrix Systems presently has a consensus rating of “Hold” and an average target price of $91.31.
Shares of Citrix Systems (CTXS) traded up $0.67 during mid-day trading on Thursday, hitting $93.43. The stock had a trading volume of 2,378,955 shares, compared to its average volume of 1,366,389. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.69. The firm has a market cap of $13,970.00, a P/E ratio of 3,114.33, a price-to-earnings-growth ratio of 4.58 and a beta of 1.41. Citrix Systems has a twelve month low of $71.00 and a twelve month high of $95.00.
Citrix Systems announced that its Board of Directors has initiated a stock buyback plan on Monday, November 13th that authorizes the company to repurchase $1.70 billion in shares. This repurchase authorization authorizes the cloud computing company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
In other Citrix Systems news, CFO Mark M. Coyle sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $84.32, for a total value of $210,800.00. Following the completion of the sale, the chief financial officer now directly owns 38,512 shares in the company, valued at approximately $3,247,331.84. 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 on Wednesday, November 8th. The shares were sold at an average price of $84.25, for a total value of $1,053,125.00. Following the completion of the sale, the chief executive officer now owns 306,777 shares of the company’s stock, valued at $25,845,962.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,530 shares of company stock valued at $8,448,117. 0.44% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Kovack Advisors Inc. purchased a new stake in Citrix Systems in the 4th quarter valued at $249,000. Boston Partners grew its holdings in Citrix Systems by 25.4% in the 4th quarter. Boston Partners now owns 51,215 shares of the cloud computing company’s stock valued at $4,507,000 after buying an additional 10,384 shares in the last quarter. Harrington Investments INC grew its holdings in Citrix Systems by 15.5% in the 4th quarter. Harrington Investments INC now owns 6,490 shares of the cloud computing company’s stock valued at $571,000 after buying an additional 870 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in Citrix Systems by 13.3% in the 4th quarter. Mutual of America Capital Management LLC now owns 19,542 shares of the cloud computing company’s stock valued at $1,720,000 after buying an additional 2,288 shares in the last quarter. Finally, WESPAC Advisors LLC purchased a new stake in Citrix Systems in the 4th quarter valued at $208,000. Institutional investors own 92.16% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was published by American Banking and Market News and is the sole property of of American Banking and Market News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.americanbankingnews.com/2018/02/01/morgan-stanley-raises-citrix-systems-ctxs-price-target-to-84-00.html.
About Citrix Systems
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.
