Weekly Investment Analysts’ Ratings Changes for Citrix Systems (CTXS)

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Citrix Systems (NASDAQ: CTXS) recently received a number of ratings updates from brokerages and research firms:

  • 11/19/2018 – Citrix Systems was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $122.00 price target on the stock. According to Zacks, “Citrix Systems is a provider of virtualization, networking and cloud computing solutions. The company is benefiting from robust adoption of its Subscription based services. Solid adoption of unified workspace solutions and hybrid cloud offerings are key positive. Traction witnessed by ShareFile is notable. The company also provided an impressive guidance. Efforts to reward shareholders through share buybacks are a positive. Buyout of Cedexis is likely to improve company’s operational performance. The company has 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, adverse foreign exchange movements remain a headwind.”
  • 11/16/2018 – Citrix Systems was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Citrix Systems is a provider of virtualization, networking and cloud computing solutions. The company benefited from robust adoption of Subscription based services. Solid adoption of unified workspace solutions and hybrid cloud offerings are key positive. Traction witnessed by ShareFile is notable. The company also provided an impressive guidance.  Efforts to reward shareholders through share buybacks are a positive. Buyout of Cedexis is likely to improve company’s operational performance. The company has 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, adverse foreign exchange movements remain a headwind.”
  • 11/13/2018 – Citrix Systems was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 11/13/2018 – Citrix Systems had its “buy” rating reaffirmed by analysts at Zacks Investment Research. They now have a $113.00 price target on the stock. According to Zacks, “Citrix Systems reported stellar third-quarter results. The company benefited from robust adoption of Subscription based services. Solid adoption of unified workspace solutions and hybrid cloud offerings drove results. Traction witnessed by ShareFile is notable. The company also provided an impressive guidance.  Efforts to reward shareholders through share buybacks are a positive. Buyout of Cedexis is likely to improve company’s operational performance. The company has 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, adverse foreign exchange movements remain a headwind.”
  • 10/25/2018 – Citrix Systems had its price target lowered by analysts at Robert W. Baird from $120.00 to $105.00. They now have a “neutral” rating on the stock.
  • 10/25/2018 – Citrix Systems had its price target lowered by analysts at Bank of America Corp from $123.00 to $116.00. They now have a “neutral” rating on the stock.
  • 10/25/2018 – Citrix Systems had its price target raised by analysts at Citigroup Inc from $120.00 to $124.00. They now have a “buy” rating on the stock.
  • 10/24/2018 – Citrix Systems was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 10/18/2018 – Citrix Systems is now covered by analysts at Wedbush. They set a “neutral” rating and a $115.00 price target on the stock.
  • 10/6/2018 – Citrix Systems was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 9/26/2018 – Citrix Systems was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Shares of Citrix Systems stock traded down $0.97 during trading hours on Tuesday, reaching $106.12. 1,458,709 shares of the company’s stock were exchanged, compared to its average volume of 1,690,840. Citrix Systems, Inc. has a 1 year low of $83.70 and a 1 year high of $116.82. The firm has a market capitalization of $14.66 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 2.71 and a beta of 1.36. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.98.

Citrix Systems (NASDAQ:CTXS) last released its earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. Citrix Systems had a net margin of 4.27% and a return on equity of 91.46%. The business had revenue of $732.47 million during the quarter, compared to analyst estimates of $722.76 million. During the same quarter in the prior year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that Citrix Systems, Inc. will post 4.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, December 6th.

In other news, EVP Rotterdam Jeroen Van sold 7,766 shares of the company’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $109.78, for a total transaction of $852,551.48. Following the completion of the sale, the executive vice president now owns 59,685 shares of the company’s stock, valued at $6,552,219.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul J. Hough sold 8,483 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $103.16, for a total transaction of $875,106.28. Following the sale, the executive vice president now directly owns 54,988 shares of the company’s stock, valued at approximately $5,672,562.08. The disclosure for this sale can be found here. Insiders have sold 21,641 shares of company stock valued at $2,315,751 in the last ninety days. Insiders own 0.56% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Bain Capital Public Equity Management LLC grew its holdings in shares of Citrix Systems by 24.4% during the second quarter. Bain Capital Public Equity Management LLC now owns 852,065 shares of the cloud computing company’s stock worth $89,330,000 after buying an additional 167,031 shares in the last quarter. Pensionfund Sabic acquired a new position in shares of Citrix Systems during the 3rd quarter valued at about $1,779,000. SP Asset Management acquired a new position in shares of Citrix Systems during the 2nd quarter valued at about $465,000. ING Groep NV acquired a new position in shares of Citrix Systems during the 2nd quarter valued at about $3,406,000. Finally, First Republic Investment Management Inc. boosted its position in shares of Citrix Systems by 21.4% during the 2nd quarter. First Republic Investment Management Inc. now owns 21,288 shares of the cloud computing company’s stock valued at $2,231,000 after acquiring an additional 3,749 shares during the last quarter.

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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