Traders Buy Shares of Citrix Systems (CTXS) on Weakness
Investors purchased shares of Citrix Systems, Inc. (NASDAQ:CTXS) on weakness during trading on Thursday. $61.69 million flowed into the stock on the tick-up and $26.04 million flowed out of the stock on the tick-down, for a money net flow of $35.65 million into the stock. Of all stocks tracked, Citrix Systems had the 8th highest net in-flow for the day. Citrix Systems traded down ($1.01) for the day and closed at $89.81
A number of research firms recently commented on CTXS. Cowen lowered shares of Citrix Systems from an “outperform” rating to a “market perform” rating and upped their price target for the company from $90.00 to $93.00 in a report on Thursday. They noted that the move was a valuation call. Barclays lowered shares of Citrix Systems from an “overweight” rating to an “equal weight” rating and set a $90.00 price target for the company. in a report on Monday. Zacks Investment Research upgraded shares of Citrix Systems from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. BidaskClub upgraded shares of Citrix Systems from a “strong sell” rating to a “sell” rating in a report on Friday, January 5th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Citrix Systems in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $89.00.
The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.69. The stock has a market cap of $13,530.00, a P/E ratio of 27.89, a PEG ratio of 4.52 and a beta of 1.41.
Citrix Systems declared that its Board of Directors has initiated a stock buyback program on Monday, November 13th that allows the company to repurchase $1.70 billion in shares. This repurchase authorization allows the cloud computing company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, CEO David J. Henshall sold 12,500 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $84.25, for a total value of $1,053,125.00. Following the completion of the transaction, the chief executive officer now directly owns 306,777 shares in the company, valued at approximately $25,845,962.25. The sale 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 stock in a transaction dated 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 transaction, the chief financial officer now 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 quarter, insiders sold 98,530 shares of company stock valued at $8,448,117. 0.44% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Grove Bank & Trust grew its position in Citrix Systems by 50.0% during the 3rd quarter. Grove Bank & Trust now owns 2,303 shares of the cloud computing company’s stock valued at $177,000 after purchasing an additional 768 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in Citrix Systems during the 3rd quarter valued at about $215,000. Colony Group LLC purchased a new stake in Citrix Systems during the 2nd quarter valued at about $228,000. Quantitative Systematic Strategies LLC purchased a new stake in Citrix Systems during the 3rd quarter valued at about $251,000. Finally, Hillsdale Investment Management Inc. grew its position in Citrix Systems by 3,050.0% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,780 shares of the cloud computing company’s stock valued at $300,000 after purchasing an additional 3,660 shares during the last quarter. 94.22% of the stock is currently owned by institutional investors.
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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