Shares of Citrix Systems, Inc. (NASDAQ:CTXS) have been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $114.15.
Several equities research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Citrix Systems from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. Robert W. Baird lowered their target price on shares of Citrix Systems from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. BidaskClub raised shares of Citrix Systems from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 24th. Morgan Stanley lifted their target price on shares of Citrix Systems from $92.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, July 26th. Finally, Wedbush assumed coverage on shares of Citrix Systems in a research note on Thursday, October 18th. They set a “neutral” rating and a $115.00 target price on the stock.
NASDAQ CTXS traded down $0.29 on Friday, hitting $106.60. The company had a trading volume of 48,497 shares, compared to its average volume of 1,688,493. The firm has a market cap of $14.40 billion, a PE ratio of 25.77, a PEG ratio of 2.66 and a beta of 1.36. 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 12-month low of $83.70 and a 12-month high of $116.82.
Citrix Systems announced that its Board of Directors has initiated a stock repurchase program on Wednesday, October 24th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the cloud computing company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.40 annualized dividend and a yield of 1.31%.
In other news, insider Robert Calderoni sold 2,128 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $113.28, for a total transaction of $241,059.84. Following the transaction, the insider now owns 145,790 shares of the company’s stock, valued at approximately $16,515,091.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Jessica Soisson sold 1,136 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $113.78, for a total transaction of $129,254.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,641 shares of company stock worth $2,315,751. 0.56% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in CTXS. Atria Investments LLC acquired a new position in shares of Citrix Systems during the 2nd quarter valued at about $241,000. James Investment Research Inc. acquired a new position in shares of Citrix Systems during the 2nd quarter valued at about $1,926,000. Whittier Trust Co. boosted its position in shares of Citrix Systems by 51.5% during the 2nd quarter. Whittier Trust Co. now owns 7,643 shares of the cloud computing company’s stock valued at $478,000 after acquiring an additional 2,598 shares during the last quarter. Zeke Capital Advisors LLC boosted its position in shares of Citrix Systems by 19.9% during the 2nd quarter. Zeke Capital Advisors LLC now owns 5,241 shares of the cloud computing company’s stock valued at $549,000 after acquiring an additional 870 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Citrix Systems by 506.2% during the 2nd quarter. Acadian Asset Management LLC now owns 142,785 shares of the cloud computing company’s stock valued at $14,970,000 after acquiring an additional 119,230 shares during the last quarter.
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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