Riverhead Capital Management LLC Increases Stake in Citrix Systems, Inc. (CTXS)

Riverhead Capital Management LLC lifted its position in Citrix Systems, Inc. (NASDAQ:CTXS) by 24.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 26,088 shares of the cloud computing company’s stock after acquiring an additional 5,180 shares during the quarter. Riverhead Capital Management LLC’s holdings in Citrix Systems were worth $2,900,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in shares of Citrix Systems by 7.5% in the 3rd quarter. First Trust Advisors LP now owns 3,021,416 shares of the cloud computing company’s stock worth $335,861,000 after buying an additional 209,493 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in Citrix Systems by 14.6% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,280,058 shares of the cloud computing company’s stock valued at $253,451,000 after acquiring an additional 291,119 shares during the period. Renaissance Technologies LLC raised its holdings in Citrix Systems by 414.0% during the second quarter. Renaissance Technologies LLC now owns 1,751,190 shares of the cloud computing company’s stock valued at $183,595,000 after acquiring an additional 1,410,500 shares during the period. Millennium Management LLC raised its holdings in Citrix Systems by 154.3% during the second quarter. Millennium Management LLC now owns 1,331,695 shares of the cloud computing company’s stock valued at $139,615,000 after acquiring an additional 807,986 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in Citrix Systems by 61.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 985,368 shares of the cloud computing company’s stock valued at $109,199,000 after acquiring an additional 373,415 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CTXS opened at $107.37 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market cap of $14.73 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.72 and a beta of 1.37. 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 posted its quarterly earnings data on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. The firm had revenue of $732.47 million during the quarter, compared to analysts’ expectations of $722.76 million. Citrix Systems had a net margin of 4.27% and a return on equity of 91.46%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $1.22 EPS. As a group, equities analysts forecast that Citrix Systems, Inc. will post 4.39 EPS for the current year.

Citrix Systems declared that its Board of Directors has approved a stock buyback plan on Wednesday, October 24th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the cloud computing company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.30%. Citrix Systems’s payout ratio is currently 33.82%.

In related news, EVP Paul J. Hough sold 8,483 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $103.16, for a total transaction of $875,106.28. Following the completion of the transaction, the executive vice president now owns 54,988 shares of the company’s stock, valued at approximately $5,672,562.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Calderoni sold 2,128 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $110.14, for a total transaction of $234,377.92. The disclosure for this sale can be found here. Insiders have sold a total of 27,783 shares of company stock valued at $2,973,266 in the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

A number of equities research analysts have commented on the company. Zacks Investment Research cut Citrix Systems from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub cut Citrix Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird decreased their price target on Citrix Systems from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, October 25th. Citigroup raised their price objective on Citrix Systems from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, October 25th. Finally, Bank of America dropped their price target on shares of Citrix Systems from $123.00 to $116.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given 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 an average target price of $114.21.

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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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Institutional Ownership by Quarter for Citrix Systems (NASDAQ:CTXS)

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