Coastline Trust Co Buys New Stake in Citrix Systems, Inc. (CTXS)
Coastline Trust Co bought a new position in Citrix Systems, Inc. (NASDAQ:CTXS) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 8,320 shares of the cloud computing company’s stock, valued at approximately $639,000.
A number of other large investors have also modified their holdings of CTXS. LMR Partners LLP purchased a new position in Citrix Systems in the 2nd quarter worth $743,000. State of Wisconsin Investment Board grew its holdings in Citrix Systems by 1.9% in the 2nd quarter. State of Wisconsin Investment Board now owns 254,875 shares of the cloud computing company’s stock worth $20,283,000 after acquiring an additional 4,685 shares during the last quarter. Alps Advisors Inc. grew its holdings in Citrix Systems by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,838 shares of the cloud computing company’s stock worth $465,000 after acquiring an additional 15 shares during the last quarter. Legal & General Group Plc grew its holdings in Citrix Systems by 6.5% in the 2nd quarter. Legal & General Group Plc now owns 755,470 shares of the cloud computing company’s stock worth $60,120,000 after acquiring an additional 45,964 shares during the last quarter. Finally, Highstreet Asset Management Inc. grew its holdings in Citrix Systems by 36.6% in the 2nd quarter. Highstreet Asset Management Inc. now owns 9,515 shares of the cloud computing company’s stock worth $757,000 after acquiring an additional 2,547 shares during the last quarter. Institutional investors own 94.42% of the company’s stock.
In other news, insider Robert Calderoni sold 60,000 shares of Citrix Systems 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 sale, the insider now owns 178,706 shares of the company’s stock, valued at approximately $15,299,020.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark M. Coyle sold 2,500 shares of Citrix Systems stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $84.32, for a total transaction of $210,800.00. Following the transaction, 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. Insiders have sold a total of 96,030 shares of company stock worth $8,225,867 in the last ninety days. Insiders own 0.44% of the company’s stock.
A number of equities research analysts have issued reports on CTXS shares. Royal Bank of Canada reissued a “hold” rating and issued a $85.00 price target on shares of Citrix Systems in a report on Monday, September 4th. Wells Fargo & Company raised shares of Citrix Systems from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $82.50 to $95.00 in a report on Monday, October 2nd. Zacks Investment Research lowered shares of Citrix Systems from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Robert W. Baird set a $90.00 price target on shares of Citrix Systems and gave the stock a “buy” rating in a report on Friday, October 6th. Finally, Mizuho reissued a “buy” rating and issued a $94.00 price target (up previously from $92.00) on shares of Citrix Systems in a report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $89.50.
Shares of Citrix Systems, Inc. (CTXS) opened at $87.05 on Friday. The firm has a market cap of $13,141.91, a PE ratio of 21.22, a PEG ratio of 4.17 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.43 and a current ratio of 1.44. Citrix Systems, Inc. has a 52 week low of $70.24 and a 52 week high of $88.96.
Citrix Systems (NASDAQ:CTXS) last announced its earnings results 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 firm had revenue of $691.00 million for 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 for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 EPS. sell-side analysts forecast that Citrix Systems, Inc. will post 3.93 earnings per share for the current fiscal year.
Citrix Systems declared that its Board of Directors has initiated a share repurchase plan on Monday, November 13th that allows the company to buyback $1.70 billion in shares. This buyback authorization allows the cloud computing company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Citrix Systems 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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