Citrix Systems (CTXS) Stock Rating Lowered by BidaskClub

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Citrix Systems (NASDAQ:CTXS) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, September 20th.

Several other research analysts have also recently issued reports on the stock. Barclays increased their target price on shares of Citrix Systems from $112.00 to $114.00 and gave the stock an “equal weight” rating in a report on Friday, September 7th. Cowen reiterated a “hold” rating and set a $120.00 target price on shares of Citrix Systems in a report on Thursday, July 26th. Morgan Stanley increased their target price on shares of Citrix Systems from $92.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, July 26th. Robert W. Baird cut shares of Citrix Systems from an “outperform” rating to a “neutral” rating and set a $110.00 target price on the stock. in a report on Friday, July 20th. Finally, Stifel Nicolaus increased their target price on shares of Citrix Systems from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $114.21.

Shares of NASDAQ CTXS traded up $0.42 during mid-day trading on Thursday, reaching $102.53. The company had a trading volume of 1,889,382 shares, compared to its average volume of 1,660,600. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.17. Citrix Systems has a 52 week low of $80.20 and a 52 week high of $116.82. The stock has a market cap of $15.08 billion, a PE ratio of 24.77, a PEG ratio of 2.90 and a beta of 1.19.

Citrix Systems (NASDAQ:CTXS) last issued its earnings results on Wednesday, July 25th. The cloud computing company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.08. Citrix Systems had a net margin of 3.23% and a return on equity of 64.77%. The company had revenue of $742.36 million for the quarter, compared to analysts’ expectations of $716.33 million. During the same period in the prior year, the business earned $103.00 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts forecast that Citrix Systems will post 4.2 earnings per share for the current year.

In other Citrix Systems news, EVP Rotterdam Jeroen Van sold 7,766 shares of the stock in a transaction dated 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 directly 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 SEC, which is accessible through this link. Also, insider Robert Calderoni sold 2,128 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $110.20, for a total transaction of $234,505.60. Following the sale, the insider now directly owns 151,427 shares of the company’s stock, valued at $16,687,255.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,158 shares of company stock valued at $1,457,371. Insiders own 0.56% of the company’s stock.

Several institutional investors have recently made changes to their positions in CTXS. Renaissance Technologies LLC raised its position in shares of Citrix Systems by 414.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,751,190 shares of the cloud computing company’s stock valued at $183,595,000 after purchasing an additional 1,410,500 shares during the last quarter. Millennium Management LLC raised its position in shares of Citrix Systems by 154.3% in the 2nd quarter. Millennium Management LLC now owns 1,331,695 shares of the cloud computing company’s stock valued at $139,615,000 after purchasing an additional 807,986 shares during the last quarter. Summit Trail Advisors LLC raised its position in shares of Citrix Systems by 8,150.5% in the 1st quarter. Summit Trail Advisors LLC now owns 668,045 shares of the cloud computing company’s stock valued at $668,000 after purchasing an additional 659,948 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of Citrix Systems by 6,420.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 615,107 shares of the cloud computing company’s stock valued at $64,488,000 after purchasing an additional 605,674 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Citrix Systems by 81.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 927,034 shares of the cloud computing company’s stock valued at $97,191,000 after purchasing an additional 416,446 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

About Citrix Systems

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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Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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