Investors Buy 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 equities 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

Several equities analysts have recently weighed in on CTXS shares. Stifel Nicolaus lowered their price objective on shares of Citrix Systems from $77.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 26th. Zacks Investment Research cut shares of Citrix Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. BidaskClub cut shares of Citrix Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 2nd. Wells Fargo & Co upgraded shares of Citrix Systems from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $82.50 to $95.00 in a research note on Monday, October 2nd. Finally, Robert W. Baird set a $90.00 price objective on shares of Citrix Systems and gave the stock a “buy” rating in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Citrix Systems presently has an average rating of “Hold” and a consensus price target of $89.00.

The company has a market capitalization of $13,532.16, a P/E ratio of 21.85, a P/E/G ratio of 4.43 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.44 and a quick ratio of 1.43.

Citrix Systems (NASDAQ:CTXS) last released its earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. Citrix Systems had a net margin of 15.67% and a return on equity of 31.32%. The company had revenue of $691.00 million for the quarter, compared to analysts’ expectations of $691.61 million. During the same quarter last year, the business earned $1.32 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. sell-side analysts expect that Citrix Systems, Inc. will post 3.93 earnings per share for the current year.

Citrix Systems announced that its board has approved a share repurchase program on Monday, November 13th that permits the company to buyback $1.70 billion in outstanding shares. This buyback authorization permits the cloud computing company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

In other Citrix Systems news, CEO David J. Henshall sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $88.31, for a total transaction of $1,103,875.00. Following the sale, the chief executive officer now owns 294,277 shares in the company, valued at approximately $25,987,601.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark M. Coyle sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $88.90, for a total transaction of $222,250.00. Following the sale, the chief financial officer now owns 36,012 shares in the company, valued at approximately $3,201,466.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,530 shares of company stock worth $8,448,117. 0.44% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Grove Bank & Trust raised its position in shares of Citrix Systems by 50.0% during the third quarter. Grove Bank & Trust now owns 2,303 shares of the cloud computing company’s stock valued at $177,000 after buying an additional 768 shares during the last quarter. Intact Investment Management Inc. bought a new stake in shares of Citrix Systems during the third quarter valued at approximately $215,000. Colony Group LLC bought a new stake in shares of Citrix Systems during the second quarter valued at approximately $228,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Citrix Systems during the third quarter valued at approximately $251,000. Finally, Hillsdale Investment Management Inc. raised its position in shares of Citrix Systems by 3,050.0% during the second quarter. Hillsdale Investment Management Inc. now owns 3,780 shares of the cloud computing company’s stock valued at $300,000 after buying an additional 3,660 shares during the last quarter. Hedge funds and other institutional investors own 94.22% of the company’s stock.

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Citrix Systems Company Profile

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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