Citrix Systems (CTXS) Upgraded by BidaskClub to Sell

Citrix Systems (NASDAQ:CTXS) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Friday.

Several other equities analysts also recently commented on the company. Robert W. Baird restated a “buy” rating on shares of Citrix Systems in a research report on Thursday. Zacks Investment Research upgraded Citrix Systems from a “sell” rating to a “hold” rating in a research report on Tuesday. KeyCorp restated a “hold” rating on shares of Citrix Systems in a research report on Friday, November 10th. Goldman Sachs Group upgraded Citrix Systems from a “neutral” rating to a “buy” rating and set a $109.00 target price for the company in a research report on Friday, November 3rd. Finally, Citigroup cut their target price on Citrix Systems from $96.00 to $94.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $89.50.

Citrix Systems (CTXS) opened at $90.70 on Friday. 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 company has a market capitalization of $13,508.05, a P/E ratio of 30.75, a P/E/G ratio of 4.43 and a beta of 1.40. Citrix Systems has a 52-week low of $70.24 and a 52-week high of $90.99.

Citrix Systems (NASDAQ:CTXS) last posted its earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.18. The business had revenue of $691.00 million during the quarter, compared to the consensus estimate of $691.61 million. Citrix Systems had a return on equity of 31.32% and a net margin of 15.67%. Citrix Systems’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $1.32 EPS. analysts forecast that Citrix Systems will post 3.93 earnings per share for the current fiscal year.

Citrix Systems declared that its Board of Directors has initiated a stock buyback plan on Monday, November 13th that allows the company to repurchase $1.70 billion in shares. This repurchase authorization allows the cloud computing company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

In other news, CFO Mark M. Coyle sold 2,500 shares of the business’s stock in a transaction on 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 sale, 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 SEC, which is available at this hyperlink. Also, CEO David J. Henshall sold 12,500 shares of the business’s stock in a transaction on 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 sale, 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. In the last quarter, insiders sold 98,530 shares of company stock valued at $8,448,117. Corporate insiders own 0.44% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CTXS. BT Investment Management Ltd bought a new stake in shares of Citrix Systems during the second quarter worth $93,653,000. Koch Industries Inc. raised its position in shares of Citrix Systems by 12,490.5% during the second quarter. Koch Industries Inc. now owns 724,333 shares of the cloud computing company’s stock worth $715,000 after acquiring an additional 718,580 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Citrix Systems by 1,955.1% during the second quarter. Bank of Nova Scotia now owns 734,618 shares of the cloud computing company’s stock worth $58,461,000 after acquiring an additional 698,872 shares during the last quarter. Numeric Investors LLC raised its position in shares of Citrix Systems by 61.4% during the second quarter. Numeric Investors LLC now owns 1,156,334 shares of the cloud computing company’s stock worth $92,021,000 after acquiring an additional 439,821 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Citrix Systems by 64.8% during the second quarter. Toronto Dominion Bank now owns 811,572 shares of the cloud computing company’s stock worth $64,572,000 after acquiring an additional 319,076 shares during the last quarter. Institutional investors own 94.22% of the company’s stock.

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Citrix Systems Company 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.

Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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