Investors Sell Citrix Systems (CTXS) on Strength (CTXS)
Traders sold shares of Citrix Systems, Inc. (NASDAQ:CTXS) on strength during trading on Wednesday. $15.88 million flowed into the stock on the tick-up and $119.32 million flowed out of the stock on the tick-down, for a money net flow of $103.44 million out of the stock. Of all companies tracked, Citrix Systems had the 0th highest net out-flow for the day. Citrix Systems traded up $0.19 for the day and closed at $87.39
Several equities research analysts have weighed in on the company. BidaskClub downgraded Citrix Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 2nd. Robert W. Baird reaffirmed a “buy” rating and set a $90.00 price target on shares of Citrix Systems in a research report on Sunday, November 19th. KeyCorp reaffirmed a “hold” rating on shares of Citrix Systems in a research report on Friday, November 10th. Zacks Investment Research raised Citrix Systems from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Stifel Nicolaus cut their price target on Citrix Systems from $77.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $89.50.
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 $13,167.52, a PE ratio of 21.26, a P/E/G ratio of 4.17 and a beta of 1.40.
Citrix Systems (NASDAQ:CTXS) last posted its earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.18. Citrix Systems had a return on equity of 31.32% and a net margin of 15.67%. The firm had revenue of $691.00 million for the quarter, compared to analysts’ expectations of $691.61 million. During the same period last year, the firm earned $1.32 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. equities research analysts forecast that Citrix Systems, Inc. will post 3.93 earnings per share for the current fiscal year.
Citrix Systems announced that its board has approved a share buyback plan on Monday, November 13th that allows the company to buyback $1.70 billion in outstanding shares. This buyback authorization allows the cloud computing company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In related news, CEO David J. Henshall sold 12,500 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $88.31, for a total value of $1,103,875.00. Following the transaction, the chief executive officer now directly owns 294,277 shares of the company’s stock, valued at approximately $25,987,601.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Calderoni sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $85.61, for a total transaction of $5,136,600.00. Following the completion of the transaction, the insider now directly owns 178,706 shares in the company, valued at $15,299,020.66. The disclosure for this sale can be found here. Insiders have sold a total of 96,030 shares of company stock worth $8,225,867 over the last 90 days. Insiders own 0.44% of the company’s stock.
A number of institutional investors have recently modified their holdings of CTXS. Grove Bank & Trust lifted its stake in Citrix Systems by 50.0% in the 3rd 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 in the last quarter. Greenwood Capital Associates LLC lifted its stake in Citrix Systems by 12.0% in the 2nd quarter. Greenwood Capital Associates LLC now owns 2,689 shares of the cloud computing company’s stock worth $214,000 after purchasing an additional 289 shares in the last quarter. Intact Investment Management Inc. purchased a new position in Citrix Systems in the 3rd quarter worth approximately $215,000. Colony Group LLC purchased a new position in Citrix Systems in the 2nd quarter worth approximately $228,000. Finally, New Amsterdam Partners LLC NY purchased a new position in Citrix Systems in the 2nd quarter worth approximately $231,000. 94.42% of the stock is currently owned by hedge funds and other 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.
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