Citrix Systems, Inc. (CTXS) Cut to “Neutral” at Bank of America Corp

Bank of America Corp downgraded shares of Citrix Systems, Inc. (NASDAQ:CTXS) from a buy rating to a neutral rating in a research note published on Wednesday morning. They currently have $91.00 price objective on the cloud computing company’s stock. The analysts noted that the move was a valuation call.

CTXS has been the topic of a number of other reports. Zacks Investment Research lowered Citrix Systems from a hold rating to a strong sell rating in a report on Tuesday, January 31st. Mizuho raised their target price on Citrix Systems from $85.00 to $100.00 and gave the stock a buy rating in a report on Thursday, February 2nd. BTIG Research reaffirmed a neutral rating on shares of Citrix Systems in a report on Tuesday, January 24th. Jefferies Group LLC reaffirmed a sell rating and set a $71.00 target price on shares of Citrix Systems in a report on Wednesday, January 18th. Finally, Robert W. Baird lowered Citrix Systems from an outperform rating to a neutral rating and dropped their target price for the stock from $100.00 to $85.00 in a report on Tuesday, February 28th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. Citrix Systems currently has an average rating of Hold and a consensus price target of $91.84.

Shares of Citrix Systems (NASDAQ:CTXS) opened at 82.49 on Wednesday. The firm has a 50-day moving average price of $78.85 and a 200-day moving average price of $71.86. Citrix Systems has a 1-year low of $60.09 and a 1-year high of $87.99. The company has a market cap of $12.90 billion, a P/E ratio of 24.19 and a beta of 1.63.

Citrix Systems (NASDAQ:CTXS) last announced its quarterly earnings data on Wednesday, January 25th. The cloud computing company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.12. The business had revenue of $908.40 million for the quarter, compared to analyst estimates of $900.97 million. Citrix Systems had a return on equity of 31.96% and a net margin of 15.68%. The company’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company earned $1.50 earnings per share. On average, equities analysts expect that Citrix Systems will post $4.65 EPS for the current year.

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In other news, Director Murray J. Demo sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $89.95, for a total value of $89,950.00. Following the transaction, the director now owns 11,276 shares in the company, valued at $1,014,276.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Timothy A. Minahan sold 14,886 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $82.00, for a total value of $1,220,652.00. Following the completion of the transaction, the chief marketing officer now owns 64,566 shares in the company, valued at approximately $5,294,412. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,886 shares of company stock worth $1,479,982. Company insiders own 0.48% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Partners LLC purchased a new position in Citrix Systems during the third quarter valued at $206,000. Fox Run Management L.L.C. purchased a new position in Citrix Systems during the third quarter valued at $230,000. Global X Management Co. LLC increased its position in Citrix Systems by 57.7% in the third quarter. Global X Management Co. LLC now owns 2,751 shares of the cloud computing company’s stock valued at $234,000 after buying an additional 1,006 shares during the period. Raymond James Trust N.A. increased its position in Citrix Systems by 4.2% in the third quarter. Raymond James Trust N.A. now owns 3,035 shares of the cloud computing company’s stock valued at $259,000 after buying an additional 122 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in Citrix Systems by 121.4% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 3,100 shares of the cloud computing company’s stock valued at $264,000 after buying an additional 1,700 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

About Citrix Systems

Citrix Systems, Inc develops and sells products and services that enable delivery of applications and data over public, private or hybrid clouds or networks, to virtually any type of device. The Company operates through Enterprise and Service Provider segment. The Company’s Enterprise and Service Provider segment consists of Workspace Services and Delivery Networking products.

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