Zacks Investment Research downgraded shares of Citrix Systems (NASDAQ:CTXS) from a strong-buy rating to a hold rating in a report published on Tuesday.
According to Zacks, “Citrix Systems is a leading provider of virtualization, networking and cloud computing solutions. The company's efforts to reward shareholders through share buybacks are impressive. buyout of Cedexis — a web monitoring company. The company Citrix deployed its Cloud services including XenDesktop and XenApp on Oracle Cloud Marketplace. This is likely to have led to new customer additions, consequently generating incremental revenues. Its strong customer base is another positive. Further, the merger between LogMeIn and Citrix's GoTo business, concluded last year, is likely to be value accretive, going forward. However, high operating costs are likely to hurt the bottom line at least in the near term. Furthermore, adverse foreign exchange movements remain a headwind.”
Other equities analysts have also issued research reports about the stock. Mizuho boosted their target price on shares of Citrix Systems to $115.00 and gave the company a buy rating in a report on Thursday, April 26th. Citigroup boosted their target price on shares of Citrix Systems from $94.00 to $120.00 and gave the company a buy rating in a report on Friday, April 20th. ValuEngine upgraded shares of Citrix Systems from a hold rating to a buy rating in a report on Thursday, March 1st. BidaskClub lowered shares of Citrix Systems from a strong-buy rating to a buy rating in a report on Friday, June 8th. Finally, Goldman Sachs Group upgraded shares of Citrix Systems from a buy rating to a conviction-buy rating in a report on Tuesday, May 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $103.44.
Shares of Citrix Systems opened at $104.84 on Tuesday, Marketbeat reports. The firm has a market cap of $14.12 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 4.08. Citrix Systems has a 52 week low of $73.33 and a 52 week high of $109.43.
Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings results on Wednesday, April 25th. The cloud computing company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.24. The company had revenue of $697.19 million for the quarter, compared to analyst estimates of $675.57 million. Citrix Systems had a net margin of 3.35% and a return on equity of 49.52%. Citrix Systems’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 earnings per share. equities analysts anticipate that Citrix Systems will post 4.27 earnings per share for the current year.
In other Citrix Systems news, SVP Timothy A. Minahan sold 11,688 shares of Citrix Systems stock in a transaction on Friday, May 18th. The shares were sold at an average price of $105.05, for a total value of $1,227,824.40. Following the completion of the sale, the senior vice president now directly owns 69,384 shares of the company’s stock, valued at $7,288,789.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David J. Henshall sold 12,500 shares of Citrix Systems stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $103.46, for a total transaction of $1,293,250.00. Following the completion of the sale, the chief executive officer now directly owns 353,733 shares of the company’s stock, valued at $36,597,216.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,035 shares of company stock valued at $5,050,793. Insiders own 0.56% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of CTXS. Sei Investments Co. increased its stake in Citrix Systems by 16.5% in the fourth quarter. Sei Investments Co. now owns 44,647 shares of the cloud computing company’s stock valued at $3,930,000 after purchasing an additional 6,321 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Citrix Systems by 7.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 156,375 shares of the cloud computing company’s stock worth $13,761,000 after acquiring an additional 11,419 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Citrix Systems by 30.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,793 shares of the cloud computing company’s stock worth $598,000 after acquiring an additional 1,572 shares in the last quarter. American International Group Inc. increased its position in shares of Citrix Systems by 9.3% during the fourth quarter. American International Group Inc. now owns 64,514 shares of the cloud computing company’s stock worth $5,677,000 after acquiring an additional 5,484 shares in the last quarter. Finally, Norinchukin Bank The increased its position in shares of Citrix Systems by 6.8% during the fourth quarter. Norinchukin Bank The now owns 11,445 shares of the cloud computing company’s stock worth $1,007,000 after acquiring an additional 732 shares in the last quarter. 98.21% of the stock is owned by hedge funds and other institutional investors.
Citrix Systems Company 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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