Retirement Systems of Alabama cut its stake in shares of Citrix Systems, Inc. (NASDAQ:CTXS) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,433 shares of the cloud computing company’s stock after selling 996 shares during the quarter. Retirement Systems of Alabama’s holdings in Citrix Systems were worth $6,607,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bain Capital Public Equity Management LLC grew its holdings in shares of Citrix Systems by 24.4% during the second quarter. Bain Capital Public Equity Management LLC now owns 852,065 shares of the cloud computing company’s stock valued at $89,330,000 after buying an additional 167,031 shares during the last quarter. Pensionfund Sabic purchased a new stake in shares of Citrix Systems during the third quarter valued at $1,779,000. ING Groep NV purchased a new stake in shares of Citrix Systems during the second quarter valued at $3,406,000. SP Asset Management purchased a new stake in shares of Citrix Systems during the second quarter valued at $465,000. Finally, First Republic Investment Management Inc. grew its holdings in shares of Citrix Systems by 21.4% during the second quarter. First Republic Investment Management Inc. now owns 21,288 shares of the cloud computing company’s stock valued at $2,231,000 after buying an additional 3,749 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on CTXS shares. Wells Fargo & Co boosted their target price on shares of Citrix Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. BidaskClub downgraded shares of Citrix Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 6th. Robert W. Baird downgraded shares of Citrix Systems from an “outperform” rating to a “neutral” rating and set a $110.00 target price for the company. in a research report on Friday, July 20th. Citigroup boosted their target price on shares of Citrix Systems from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, October 25th. Finally, Bank of America decreased their target price on shares of Citrix Systems from $123.00 to $116.00 and set a “neutral” rating for the company in a research report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $113.93.
NASDAQ CTXS opened at $102.76 on Friday. The firm has a market cap of $13.94 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 2.56 and a beta of 1.36. Citrix Systems, Inc. has a 1 year low of $82.46 and a 1 year high of $116.82. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.82.
Citrix Systems (NASDAQ:CTXS) last posted its earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.15. The company had revenue of $732.47 million during the quarter, compared to the consensus estimate of $722.76 million. Citrix Systems had a net margin of 4.27% and a return on equity of 91.46%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. On average, equities analysts predict that Citrix Systems, Inc. will post 4.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.36%.
Citrix Systems declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 24th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the cloud computing company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
Citrix Systems Company Profile
Citrix Systems, Inc delivers solutions to secure and access applications worldwide. The company offers workspace services, including XenDesktop, a cloud-enabled desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients.
Featured Story: Preferred Stock
Want to see what other hedge funds are holding CTXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citrix Systems, Inc. (NASDAQ:CTXS).
Receive News & Ratings for Citrix Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citrix Systems and related companies with MarketBeat.com's FREE daily email newsletter.