Trexquant Investment LP trimmed its position in shares of Citrix Systems, Inc. (NASDAQ:CTXS) by 48.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,667 shares of the cloud computing company’s stock after selling 14,693 shares during the quarter. Trexquant Investment LP’s holdings in Citrix Systems were worth $1,742,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Hawaii acquired a new position in Citrix Systems in the third quarter valued at $565,000. Rafferty Asset Management LLC increased its stake in Citrix Systems by 13.0% in the third quarter. Rafferty Asset Management LLC now owns 18,014 shares of the cloud computing company’s stock valued at $2,002,000 after purchasing an additional 2,078 shares during the last quarter. American International Group Inc. increased its stake in Citrix Systems by 4.9% in the third quarter. American International Group Inc. now owns 61,606 shares of the cloud computing company’s stock valued at $6,848,000 after purchasing an additional 2,890 shares during the last quarter. Martingale Asset Management L P increased its stake in Citrix Systems by 173.7% in the third quarter. Martingale Asset Management L P now owns 381,011 shares of the cloud computing company’s stock valued at $42,354,000 after purchasing an additional 241,812 shares during the last quarter. Finally, Todd Asset Management LLC acquired a new position in Citrix Systems in the third quarter valued at $16,290,000.
In other news, EVP Rotterdam Jeroen Van sold 7,766 shares of the company’s stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $109.78, for a total value of $852,551.48. Following the completion of the sale, the executive vice president now owns 59,685 shares of the company’s stock, valued at $6,552,219.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Calderoni sold 2,128 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $113.28, for a total value of $241,059.84. Following the completion of the sale, the insider now directly owns 145,790 shares of the company’s stock, valued at approximately $16,515,091.20. The disclosure for this sale can be found here. Insiders sold 20,505 shares of company stock valued at $2,186,497 in the last ninety days. Company insiders own 0.56% of the company’s stock.
NASDAQ:CTXS traded up $2.71 on Wednesday, hitting $111.23. 232,254 shares of the stock were exchanged, compared to its average volume of 1,371,247. The firm has a market capitalization of $14.53 billion, a PE ratio of 26.87, a P/E/G ratio of 2.68 and a beta of 1.36. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.82. Citrix Systems, Inc. has a fifty-two week low of $83.70 and a fifty-two week high of $116.82.
Citrix Systems (NASDAQ:CTXS) last announced its quarterly earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.15. The company had revenue of $732.47 million during the quarter, compared to analyst estimates of $722.76 million. Citrix Systems had a return on equity of 91.46% and a net margin of 4.27%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 earnings per share. As a group, research analysts anticipate that Citrix Systems, Inc. will post 4.39 earnings per share for the current year.
Citrix Systems announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 24th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the cloud computing company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared 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 1.26%.
CTXS has been the subject of several analyst reports. Robert W. Baird dropped their target price on Citrix Systems from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. Wedbush started coverage on Citrix Systems in a research note on Thursday, October 18th. They issued a “neutral” rating and a $115.00 target price for the company. Citigroup upped their price target on Citrix Systems from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, October 25th. Zacks Investment Research upgraded Citrix Systems from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research note on Monday, November 19th. Finally, BidaskClub upgraded Citrix Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $114.21.
Citrix Systems 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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