Citrix Systems (CTXS) Earns Buy Rating from Robert W. Baird

Citrix Systems (NASDAQ:CTXS)‘s stock had its “buy” rating reiterated by equities researchers at Robert W. Baird in a report released on Thursday.

CTXS has been the subject of a number of other research reports. Stifel Nicolaus cut their price objective on shares of Citrix Systems from $77.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 26th. Wells Fargo & Co raised shares of Citrix Systems from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $82.50 to $95.00 in a research report on Monday, October 2nd. BidaskClub lowered shares of Citrix Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 2nd. Royal Bank of Canada reissued a “hold” rating and issued a $85.00 price objective on shares of Citrix Systems in a research report on Tuesday, October 10th. Finally, Mizuho reaffirmed a “buy” rating and set a $94.00 price target (up previously from $92.00) on shares of Citrix Systems in a research report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $89.50.

Citrix Systems (NASDAQ:CTXS) traded up $1.05 during trading hours on Thursday, hitting $90.70. 987,475 shares of the stock were exchanged, compared to its average volume of 1,140,267. 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 capitalization of $13,670.00, a price-to-earnings ratio of 28.17, a PEG ratio of 4.38 and a beta of 1.41. Citrix Systems has a twelve month low of $70.24 and a twelve month high of $90.99.

Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings data on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. The business had revenue of $691.00 million during the quarter, compared to analyst estimates of $691.61 million. Citrix Systems had a net margin of 15.67% and a return on equity of 31.32%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.32 earnings per share. equities analysts expect that Citrix Systems will post 3.93 earnings per share for the current year.

Citrix Systems announced that its board has initiated a stock repurchase program on Monday, November 13th that allows the company to repurchase $1.70 billion in shares. This repurchase authorization allows the cloud computing company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, insider Robert Calderoni sold 60,000 shares of the stock in a transaction on Friday, November 17th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David J. Henshall sold 12,500 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $84.25, for a total transaction of $1,053,125.00. Following the completion of the sale, the chief executive officer now directly 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 96,030 shares of company stock valued at $8,225,867 in the last three months. Company insiders own 0.44% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Grove Bank & Trust increased its position in shares of Citrix Systems by 50.0% in the third quarter. Grove Bank & Trust now owns 2,303 shares of the cloud computing company’s stock worth $177,000 after acquiring an additional 768 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in shares of Citrix Systems in the third quarter worth $215,000. Colony Group LLC acquired a new stake in shares of Citrix Systems in the second quarter worth $228,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Citrix Systems in the third quarter worth $251,000. Finally, Hillsdale Investment Management Inc. increased its position in shares of Citrix Systems by 3,050.0% in the second quarter. Hillsdale Investment Management Inc. now owns 3,780 shares of the cloud computing company’s stock worth $300,000 after acquiring an additional 3,660 shares in the last quarter. 94.22% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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