Citrix Systems (NASDAQ:CTXS) Cut to “Hold” at BidaskClub

BidaskClub lowered shares of Citrix Systems (NASDAQ:CTXS) from a buy rating to a hold rating in a research note released on Friday, BidAskClub reports.

A number of other brokerages have also recently commented on CTXS. Wedbush restated a hold rating and issued a $92.00 price target on shares of Citrix Systems in a research report on Friday, October 25th. ValuEngine raised Citrix Systems from a hold rating to a buy rating in a research note on Wednesday, September 4th. Jefferies Financial Group raised Citrix Systems from an underperform rating to a hold rating and raised their price objective for the company from $80.00 to $105.00 in a research note on Tuesday, October 29th. Finally, Barclays set a $107.00 price objective on Citrix Systems and gave the company a hold rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $105.33.

CTXS traded up $0.05 during trading hours on Friday, reaching $110.35. The company’s stock had a trading volume of 1,018,867 shares, compared to its average volume of 1,654,225. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.73 and a current ratio of 0.74. The firm has a market cap of $14.25 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 4.33 and a beta of 1.06. The company’s 50-day moving average is $110.80 and its 200-day moving average is $99.94. Citrix Systems has a 52 week low of $90.28 and a 52 week high of $114.73.

Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings data on Thursday, October 24th. The cloud computing company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.27. Citrix Systems had a return on equity of 97.57% and a net margin of 21.33%. The firm had revenue of $733.00 million for the quarter, compared to analysts’ expectations of $715.05 million. During the same quarter last year, the business earned $1.40 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts anticipate that Citrix Systems will post 3.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.35 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.27%. Citrix Systems’s payout ratio is currently 30.57%.

In other news, EVP Rotterdam Jeroen Van sold 7,956 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $108.12, for a total transaction of $860,202.72. Following the completion of the sale, the executive vice president now owns 48,287 shares in the company, valued at $5,220,790.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David J. Henshall sold 6,353 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $96.95, for a total value of $615,923.35. Following the sale, the chief executive officer now owns 345,511 shares of the company’s stock, valued at approximately $33,497,291.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,619 shares of company stock valued at $5,250,520. 0.54% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its position in shares of Citrix Systems by 1.9% during the third quarter. Daiwa Securities Group Inc. now owns 5,406 shares of the cloud computing company’s stock valued at $522,000 after buying an additional 103 shares during the last quarter. Creative Planning boosted its position in Citrix Systems by 1.9% in the third quarter. Creative Planning now owns 5,686 shares of the cloud computing company’s stock worth $549,000 after purchasing an additional 107 shares during the last quarter. CWM LLC boosted its position in Citrix Systems by 65.1% in the third quarter. CWM LLC now owns 312 shares of the cloud computing company’s stock worth $30,000 after purchasing an additional 123 shares during the last quarter. American Trust Investment Advisors LLC boosted its position in Citrix Systems by 0.4% in the second quarter. American Trust Investment Advisors LLC now owns 43,609 shares of the cloud computing company’s stock worth $4,280,000 after purchasing an additional 160 shares during the last quarter. Finally, Covington Capital Management boosted its position in Citrix Systems by 175.0% in the second quarter. Covington Capital Management now owns 275 shares of the cloud computing company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 96.62% of the company’s stock.

About Citrix Systems

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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