BidaskClub Lowers Citrix Systems (NASDAQ:CTXS) to Sell

BidaskClub downgraded shares of Citrix Systems (NASDAQ:CTXS) from a hold rating to a sell rating in a report issued on Saturday, BidAskClub reports.

Other research analysts have also issued reports about the company. Zacks Investment Research lowered Citrix Systems from a hold rating to a sell rating in a report on Monday, April 29th. Morgan Stanley reduced their target price on Citrix Systems from $102.00 to $95.00 and set an underweight rating on the stock in a report on Thursday, July 25th. Deutsche Bank upgraded Citrix Systems from a hold rating to a buy rating and lifted their target price for the stock from $110.00 to $120.00 in a report on Thursday, June 6th. ValuEngine lowered Citrix Systems from a buy rating to a hold rating in a report on Friday, April 19th. Finally, Wedbush reiterated a hold rating and set a $95.00 target price on shares of Citrix Systems in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $110.25.

Shares of NASDAQ:CTXS traded down $0.44 during midday trading on Friday, hitting $91.98. The company had a trading volume of 1,773,046 shares, compared to its average volume of 2,683,847. Citrix Systems has a 12 month low of $90.28 and a 12 month high of $114.55. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.86. The company has a market cap of $12.10 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 3.32 and a beta of 1.01. The business has a fifty day moving average of $97.86.

Citrix Systems (NASDAQ:CTXS) last posted its earnings results on Wednesday, July 24th. The cloud computing company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.27. The firm had revenue of $748.70 million for the quarter, compared to analyst estimates of $772.00 million. Citrix Systems had a return on equity of 95.52% and a net margin of 17.60%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. On average, sell-side analysts forecast that Citrix Systems will post 3.8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $0.35 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.52%. Citrix Systems’s dividend payout ratio (DPR) is 30.57%.

In other news, CEO David J. Henshall sold 4,367 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $93.99, for a total value of $410,454.33. Following the sale, the chief executive officer now directly owns 373,960 shares in the company, valued at $35,148,500.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David J. Henshall sold 6,353 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $94.11, for a total value of $597,880.83. Following the completion of the sale, the chief executive officer now owns 361,803 shares in the company, valued at $34,049,280.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,297 shares of company stock worth $1,756,357. Corporate insiders own 0.54% of the company’s stock.

Several institutional investors have recently modified their holdings of CTXS. Nordea Investment Management AB lifted its holdings in shares of Citrix Systems by 694.1% in the first quarter. Nordea Investment Management AB now owns 1,220,537 shares of the cloud computing company’s stock valued at $121,638,000 after purchasing an additional 1,066,829 shares in the last quarter. First Trust Advisors LP increased its position in shares of Citrix Systems by 29.7% in the second quarter. First Trust Advisors LP now owns 3,986,354 shares of the cloud computing company’s stock valued at $391,221,000 after acquiring an additional 912,477 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Citrix Systems by 176.1% in the first quarter. Acadian Asset Management LLC now owns 686,262 shares of the cloud computing company’s stock valued at $68,395,000 after acquiring an additional 437,687 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Citrix Systems by 100.6% in the first quarter. Janus Henderson Group PLC now owns 862,969 shares of the cloud computing company’s stock valued at $86,003,000 after acquiring an additional 432,825 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Citrix Systems by 269.3% in the second quarter. Bank of Montreal Can now owns 589,433 shares of the cloud computing company’s stock valued at $57,846,000 after acquiring an additional 429,839 shares during the last quarter. Institutional investors own 97.69% of the company’s stock.

Citrix Systems Company Profile

Citrix Systems, Inc provides workspace, networking, and analytics solutions worldwide. The company offers workspace services, including Citrix Virtual Apps and Desktops, a cloud-enabled app and desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and Citrix Virtual Apps that allows Windows and Linux applications to be remotely delivered to Macs, PCs, thin clients, and Android/iOS mobile devices from any cloud, on-premises datacenter, or both.

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Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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