Comerica Bank reduced its stake in Citrix Systems, Inc. (NASDAQ:CTXS) by 15.5% during the fourth quarter, Holdings Channel reports. The fund owned 35,266 shares of the cloud computing company’s stock after selling 6,461 shares during the period. Comerica Bank’s holdings in Citrix Systems were worth $3,307,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kovack Advisors Inc. purchased a new stake in shares of Citrix Systems during the fourth quarter valued at $249,000. Boston Partners boosted its position in shares of Citrix Systems by 25.4% during the fourth quarter. Boston Partners now owns 51,215 shares of the cloud computing company’s stock valued at $4,507,000 after buying an additional 10,384 shares during the last quarter. Harrington Investments INC boosted its position in shares of Citrix Systems by 15.5% during the fourth quarter. Harrington Investments INC now owns 6,490 shares of the cloud computing company’s stock valued at $571,000 after buying an additional 870 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Citrix Systems by 13.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 19,542 shares of the cloud computing company’s stock valued at $1,720,000 after buying an additional 2,288 shares during the last quarter. Finally, WESPAC Advisors LLC purchased a new stake in shares of Citrix Systems during the fourth quarter valued at $208,000. 92.00% of the stock is currently owned by hedge funds and other institutional investors.
Citrix Systems, Inc. (NASDAQ CTXS) opened at $91.21 on Monday. The stock has a market capitalization of $12,418.31, a PE ratio of 21.98, a price-to-earnings-growth ratio of 2.90 and a beta of 1.34. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.55 and a quick ratio of 1.55. Citrix Systems, Inc. has a 12-month low of $73.33 and a 12-month high of $95.00.
Citrix Systems (NASDAQ:CTXS) last announced its earnings results on Wednesday, January 31st. The cloud computing company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.06. The business had revenue of $777.90 million for the quarter, compared to analysts’ expectations of $778.49 million. Citrix Systems had a positive return on equity of 38.56% and a negative net margin of 0.73%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the firm posted $1.61 earnings per share. equities analysts anticipate that Citrix Systems, Inc. will post 3.88 EPS for the current fiscal year.
Citrix Systems declared that its board has approved a stock repurchase program on Monday, November 13th that authorizes the company to repurchase $1.70 billion in outstanding shares. This repurchase authorization authorizes the cloud computing company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO David J. Henshall sold 12,500 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $88.31, for a total value of $1,103,875.00. Following the transaction, the chief executive officer now owns 294,277 shares of the company’s stock, valued at $25,987,601.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark M. Coyle sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $88.90, for a total value of $222,250.00. Following the completion of the transaction, the chief financial officer now directly owns 36,012 shares in the company, valued at approximately $3,201,466.80. The disclosure for this sale can be found here. Insiders sold 27,500 shares of company stock worth $2,483,875 over the last three months. Insiders own 0.44% of the company’s stock.
Several research firms recently commented on CTXS. Sanford C. Bernstein increased their price objective on Citrix Systems from $95.00 to $106.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Mizuho reaffirmed a “buy” rating and set a $101.00 price objective on shares of Citrix Systems in a research report on Wednesday, January 31st. Stifel Nicolaus increased their price objective on Citrix Systems from $86.00 to $88.00 and gave the company a “hold” rating in a research report on Thursday, February 1st. BidaskClub raised Citrix Systems from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Finally, Bank of America increased their price objective on Citrix Systems from $91.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $91.31.
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Citrix Systems 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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