BidaskClub upgraded shares of Citrix Systems (NASDAQ:CTXS) from a hold rating to a buy rating in a report released on Friday morning.
Several other brokerages also recently weighed in on CTXS. Citigroup reduced their target price on Citrix Systems from $96.00 to $94.00 and set a buy rating for the company in a research note on Friday, October 27th. Zacks Investment Research downgraded Citrix Systems from a hold rating to a sell rating in a research note on Tuesday, December 26th. KeyCorp reaffirmed a hold rating on shares of Citrix Systems in a research note on Friday, November 10th. Stifel Nicolaus upped their target price on Citrix Systems from $86.00 to $88.00 and gave the stock a hold rating in a research note on Thursday, February 1st. Finally, Goldman Sachs Group raised Citrix Systems from a neutral rating to a buy rating and set a $109.00 target price for the company in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Citrix Systems currently has a consensus rating of Hold and an average target price of $91.31.
Citrix Systems (NASDAQ CTXS) traded up $1.20 during trading on Friday, reaching $92.81. The company’s stock had a trading volume of 1,604,581 shares, compared to its average volume of 1,927,186. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.14. Citrix Systems has a 1-year low of $73.33 and a 1-year high of $95.00. The stock has a market cap of $12,472.78, a price-to-earnings ratio of 22.08, a PEG ratio of 2.91 and a beta of 1.34.
Citrix Systems declared that its board has approved a stock buyback plan on Monday, November 13th that permits the company to repurchase $1.70 billion in shares. This repurchase authorization permits the cloud computing company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
In related news, CEO David J. Henshall sold 12,500 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 294,277 shares of the company’s stock, valued at approximately $25,987,601.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark M. Coyle sold 2,500 shares of the stock in a transaction on Wednesday, January 3rd. The shares were 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 of the company’s stock, valued at $3,201,466.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,500 shares of company stock valued at $2,483,875. 0.44% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its stake in Citrix Systems by 4.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 14,074 shares of the cloud computing company’s stock valued at $1,239,000 after purchasing an additional 571 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in Citrix Systems by 4.4% in the 4th quarter. Xact Kapitalforvaltning AB now owns 45,052 shares of the cloud computing company’s stock valued at $3,965,000 after purchasing an additional 1,909 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Citrix Systems by 63.3% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,255 shares of the cloud computing company’s stock valued at $726,000 after purchasing an additional 3,200 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in Citrix Systems in the 4th quarter valued at $3,897,000. Finally, Glenmede Trust Co. NA raised its stake in Citrix Systems by 69.7% in the 4th quarter. Glenmede Trust Co. NA now owns 687,354 shares of the cloud computing company’s stock valued at $60,485,000 after purchasing an additional 282,312 shares during the last quarter. 92.00% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: “Citrix Systems (CTXS) Upgraded by BidaskClub to Buy” was first posted by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this story can be read at https://www.com-unik.info/2018/02/24/citrix-systems-ctxs-upgraded-by-bidaskclub-to-buy.html.
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.
Receive News & Ratings for Citrix Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citrix Systems and related companies with MarketBeat.com's FREE daily email newsletter.