Pitcairn Co. acquired a new stake in Citrix Systems, Inc. (NASDAQ:CTXS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,426 shares of the cloud computing company’s stock, valued at approximately $825,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fort L.P. acquired a new stake in shares of Citrix Systems in the second quarter valued at about $120,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Citrix Systems in the second quarter valued at about $153,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Citrix Systems in the second quarter valued at about $163,000. Advisors Preferred LLC acquired a new stake in shares of Citrix Systems in the second quarter valued at about $172,000. Finally, Grove Bank & Trust acquired a new stake in shares of Citrix Systems in the second quarter valued at about $200,000. 95.37% of the stock is owned by institutional investors.
Several analysts have recently issued reports on CTXS shares. Robert W. Baird lowered shares of Citrix Systems from an “outperform” rating to a “neutral” rating and set a $110.00 target price on the stock. in a research report on Friday, July 20th. Wells Fargo & Co lifted their target price on shares of Citrix Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. BidaskClub lowered shares of Citrix Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Stifel Nicolaus lifted their target price on shares of Citrix Systems from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Finally, Morgan Stanley lifted their target price on shares of Citrix Systems from $92.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, July 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $113.93.
In other Citrix Systems news, VP Jessica Soisson sold 1,136 shares of Citrix Systems stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $113.78, for a total transaction of $129,254.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Robert Calderoni sold 2,128 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $102.34, for a total transaction of $217,779.52. Following the completion of the sale, the chairman now directly owns 138,772 shares in the company, valued at $14,201,926.48. The disclosure for this sale can be found here. Insiders have sold 21,641 shares of company stock worth $2,315,751 over the last ninety days. 0.56% of the stock is owned by insiders.
CTXS opened at $103.42 on Tuesday. The stock has a market cap of $13.94 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 2.56 and a beta of 1.36. Citrix Systems, Inc. has a twelve month low of $82.46 and a twelve month high of $116.82. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.98.
Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.15. The firm had revenue of $732.47 million for the quarter, compared to analyst estimates of $722.76 million. Citrix Systems had a net margin of 4.27% and a return on equity of 91.46%. Citrix Systems’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 earnings per share. Equities analysts predict that Citrix Systems, Inc. will post 4.38 EPS for the current year.
The firm also recently declared 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 yield of 1.35%.
Citrix Systems announced that its board has initiated a share repurchase plan on Wednesday, October 24th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the cloud computing company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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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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