Robert W. Baird Reiterates “Buy” Rating for Citrix Systems (CTXS)
Several other analysts also recently issued reports on the company. Mizuho reissued a buy rating and issued a $101.00 price target (up previously from $92.00) on shares of Citrix Systems in a research note on Wednesday. Zacks Investment Research upgraded Citrix Systems from a sell rating to a hold rating in a report on Tuesday. Cowen cut Citrix Systems from an outperform rating to a market perform rating and raised their price objective for the company from $90.00 to $93.00 in a report on Thursday, January 11th. They noted that the move was a valuation call. Barclays cut Citrix Systems from an overweight rating to an equal weight rating and set a $90.00 price objective for the company. in a report on Monday, January 8th. Finally, BidaskClub upgraded Citrix Systems from a strong sell rating to a sell rating in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. Citrix Systems presently has a consensus rating of Hold and an average target price of $89.50.
Citrix Systems (CTXS) traded up $1.34 on Thursday, hitting $92.72. The company’s stock had a trading volume of 1,205,832 shares, compared to its average volume of 1,027,299. Citrix Systems has a 1 year low of $70.24 and a 1 year high of $92.87. The firm has a market cap of $13,768.72, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 4.51 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.44 and a quick ratio of 1.43.
Citrix Systems declared that its Board of Directors has authorized 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 buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, CFO Mark M. Coyle sold 2,500 shares of Citrix Systems stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $84.32, for a total transaction of $210,800.00. Following the completion of the transaction, the chief financial officer now owns 38,512 shares in the company, valued at $3,247,331.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David J. Henshall sold 12,500 shares of Citrix Systems stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $84.25, for a total value of $1,053,125.00. Following the transaction, the chief executive officer now owns 306,777 shares of the company’s stock, valued at approximately $25,845,962.25. The disclosure for this sale can be found here. Insiders sold a total of 98,530 shares of company stock valued at $8,448,117 in the last 90 days. 0.44% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Grove Bank & Trust grew its holdings in Citrix Systems by 50.0% during the third quarter. Grove Bank & Trust now owns 2,303 shares of the cloud computing company’s stock worth $177,000 after purchasing an additional 768 shares during the period. Intact Investment Management Inc. bought a new position in Citrix Systems during the third quarter worth about $215,000. Colony Group LLC bought a new position in Citrix Systems during the second quarter worth about $228,000. Quantitative Systematic Strategies LLC bought a new position in Citrix Systems during the third quarter worth about $251,000. Finally, Hillsdale Investment Management Inc. grew its holdings in Citrix Systems by 3,050.0% during the second quarter. Hillsdale Investment Management Inc. now owns 3,780 shares of the cloud computing company’s stock worth $300,000 after purchasing an additional 3,660 shares during the period. Institutional investors and hedge funds own 94.23% of the company’s stock.
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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.
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