Citrix Systems (CTXS) Upgraded at BidaskClub
BidaskClub upgraded shares of Citrix Systems (NASDAQ:CTXS) from a hold rating to a buy rating in a report published on Thursday.
Several other research firms have also weighed in on CTXS. Barclays lifted their price target on Citrix Systems from $112.00 to $114.00 and gave the company an equal weight rating in a research report on Friday, September 7th. Zacks Investment Research upgraded Citrix Systems from a hold rating to a buy rating and set a $122.00 price target on the stock in a research report on Wednesday, November 28th. Bank of America dropped their price target on Citrix Systems from $123.00 to $116.00 and set a neutral rating on the stock in a research report on Thursday, October 25th. Wedbush assumed coverage on Citrix Systems in a research report on Thursday, October 18th. They set a neutral rating and a $115.00 price target on the stock. Finally, Robert W. Baird dropped their price target on Citrix Systems from $120.00 to $105.00 and set a neutral rating on the stock in a research report on Thursday, October 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Citrix Systems currently has a consensus rating of Hold and a consensus price target of $114.07.
NASDAQ CTXS opened at $109.14 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.82 and a current ratio of 0.83. Citrix Systems has a twelve month low of $83.70 and a twelve month high of $116.82. The company has a market cap of $14.71 billion, a P/E ratio of 26.36, a PEG ratio of 2.72 and a beta of 1.37.
Citrix Systems announced that its board has approved a stock buyback program on Wednesday, October 24th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the cloud computing company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, December 6th. Citrix Systems’s dividend payout ratio (DPR) is 33.82%.
In other Citrix Systems news, VP Jessica Soisson sold 1,466 shares of the business’s stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $110.77, for a total value of $162,388.82. Following the sale, the vice president now directly owns 18,526 shares of the company’s stock, valued at $2,052,125.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Robert Calderoni sold 2,128 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $102.34, for a total value of $217,779.52. Following the completion of the sale, the chairman now directly owns 138,772 shares in the company, valued at $14,201,926.48. The disclosure for this sale can be found here. Insiders sold 29,249 shares of company stock worth $3,135,655 over the last three months. Corporate insiders own 0.56% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. purchased a new position in shares of Citrix Systems in the third quarter worth $102,000. Captrust Financial Advisors raised its stake in shares of Citrix Systems by 2,623.7% in the third quarter. Captrust Financial Advisors now owns 1,035 shares of the cloud computing company’s stock worth $115,000 after purchasing an additional 997 shares during the last quarter. Fort L.P. purchased a new position in shares of Citrix Systems in the second quarter worth $120,000. Itau Unibanco Holding S.A. purchased a new position in shares of Citrix Systems in the second quarter worth $163,000. Finally, Advisors Preferred LLC purchased a new position in shares of Citrix Systems in the second quarter worth $172,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.
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.
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