Toronto Dominion Bank Has $62.67 Million Stake in Citrix Systems, Inc. (CTXS)
Toronto Dominion Bank cut its stake in shares of Citrix Systems, Inc. (NASDAQ:CTXS) by 12.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 712,153 shares of the cloud computing company’s stock after selling 102,750 shares during the period. Toronto Dominion Bank’s holdings in Citrix Systems were worth $62,670,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. NuWave Investment Management LLC bought a new stake in shares of Citrix Systems during the fourth quarter valued at about $107,000. Grove Bank & Trust increased its position in shares of Citrix Systems by 50.0% during the third quarter. Grove Bank & Trust now owns 2,303 shares of the cloud computing company’s stock valued at $177,000 after buying an additional 768 shares during the period. Rational Advisors LLC bought a new stake in shares of Citrix Systems during the fourth quarter valued at about $194,000. WESPAC Advisors LLC bought a new stake in shares of Citrix Systems during the fourth quarter valued at about $208,000. Finally, IBM Retirement Fund bought a new stake in shares of Citrix Systems during the fourth quarter valued at about $209,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.
Several brokerages have recently weighed in on CTXS. Sanford C. Bernstein upped their price target on Citrix Systems from $95.00 to $106.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Morgan Stanley upped their price target on Citrix Systems from $82.00 to $84.00 and gave the company an “underweight” rating in a research report on Thursday, February 1st. Bank of America upped their price target on Citrix Systems from $91.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Stifel Nicolaus upped their price target on Citrix Systems from $86.00 to $88.00 and gave the company a “hold” rating in a research report on Thursday, February 1st. Finally, Mizuho reiterated a “buy” rating and set a $101.00 price target on shares of Citrix Systems in a research report on Wednesday, January 31st. 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 company’s stock. Citrix Systems currently has an average rating of “Hold” and an average target price of $91.31.
Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings data on Wednesday, January 31st. The cloud computing company reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.06. The company had revenue of $777.90 million for the quarter, compared to analysts’ expectations of $778.49 million. Citrix Systems had a negative net margin of 0.73% and a positive return on equity of 38.56%. Citrix Systems’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 earnings per share. analysts anticipate that Citrix Systems, Inc. will post 3.88 EPS for the current year.
Citrix Systems announced that its Board of Directors has initiated a stock buyback program on Monday, November 13th that permits the company to repurchase $1.70 billion in shares. This repurchase authorization permits the cloud computing company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In other Citrix Systems news, insider Robert Calderoni sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $85.61, for a total value of $5,136,600.00. Following the completion of the sale, the insider now owns 178,706 shares of the company’s stock, valued at $15,299,020.66. The sale was disclosed in a legal filing 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 that occurred on Friday, December 1st. The stock was sold at an average price of $88.31, for a total value of $1,103,875.00. Following the completion of the sale, the chief executive officer now directly owns 294,277 shares of the company’s stock, valued at approximately $25,987,601.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,500 shares of company stock valued at $7,620,475. 0.44% of the stock is owned by insiders.
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Citrix Systems Profile
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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