Citrix Systems (CTXS) Board Authorizes Share Repurchase Program
Citrix Systems (NASDAQ:CTXS) declared that its board has initiated a stock buyback program, which allows the company to buyback $1.70 billion in shares on Monday, November 13th, EventVestor reports. This buyback authorization allows the cloud computing company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
Shares of Citrix Systems (NASDAQ:CTXS) opened at $86.51 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.43 and a current ratio of 1.44. The company has a market capitalization of $13,030.00, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 4.07 and a beta of 1.40. Citrix Systems has a one year low of $67.16 and a one year high of $87.99.
Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings data on Wednesday, October 25th. The cloud computing company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.18. The firm 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%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 EPS. equities research analysts predict that Citrix Systems will post 3.94 earnings per share for the current year.
CTXS has been the subject of several analyst reports. The Goldman Sachs Group, Inc. raised Citrix Systems from a “neutral” rating to a “buy” rating and set a $109.00 price objective for the company in a research report on Friday, November 3rd. Zacks Investment Research cut Citrix Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Robert W. Baird set a $90.00 price objective on Citrix Systems and gave the stock a “buy” rating in a research report on Friday, October 6th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $85.00 price objective on shares of Citrix Systems in a research report on Monday, September 4th. Finally, Citigroup Inc. lowered their price objective 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $89.50.
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In other Citrix Systems news, CEO David J. Henshall sold 12,500 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark M. Coyle sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $84.32, for a total value of $210,800.00. Following the sale, the chief financial officer now directly owns 38,512 shares of the company’s stock, valued at $3,247,331.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,530 shares of company stock valued at $1,985,392. 0.44% of the stock is owned by company insiders.
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.
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