Citrix Systems (NASDAQ:CTXS) Given New $105.00 Price Target at Robert W. Baird

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Citrix Systems (NASDAQ:CTXS) had its price target reduced by Robert W. Baird from $120.00 to $105.00 in a note issued to investors on Thursday, October 25th, Stock Target Advisor reports. The firm presently has a “neutral” rating on the cloud computing company’s stock. Robert W. Baird’s price objective indicates a potential downside of 3.45% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on CTXS. Wells Fargo & Co upped their price objective on shares of Citrix Systems from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, July 24th. BidaskClub cut shares of Citrix Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Stifel Nicolaus boosted their target price on shares of Citrix Systems from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Morgan Stanley boosted their target price on shares of Citrix Systems from $92.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, July 26th. Finally, Cowen reissued a “hold” rating and set a $120.00 target price on shares of Citrix Systems in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned 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 a consensus target price of $113.57.

Citrix Systems stock opened at $108.75 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.82 and a current ratio of 0.83. Citrix Systems has a 12 month low of $83.70 and a 12 month high of $116.82. The firm has a market cap of $14.66 billion, a PE ratio of 23.59, a P/E/G ratio of 2.71 and a beta of 1.36.

Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.25 by $0.15. The business had revenue of $732.47 million for 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%. Citrix Systems’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 EPS. As a group, equities analysts expect that Citrix Systems will post 4.38 earnings per share for the current fiscal year.

Citrix Systems declared that its board has initiated a stock buyback program on Wednesday, October 24th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the cloud computing company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

In related news, EVP Paul J. Hough sold 8,483 shares of the stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $103.16, for a total value 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 $5,672,562.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jessica Soisson sold 1,136 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $113.78, for a total transaction of $129,254.08. The disclosure for this sale can be found here. Insiders sold 21,641 shares of company stock valued at $2,315,751 in the last three months. Company insiders own 0.56% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Bain Capital Public Equity Management LLC grew its stake in 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 during the last quarter. Pensionfund Sabic bought a new stake in shares of Citrix Systems during the third quarter valued at approximately $1,779,000. ING Groep NV bought a new stake in shares of Citrix Systems during the second quarter valued at approximately $3,406,000. SP Asset Management bought a new stake in shares of Citrix Systems during the second quarter valued at approximately $465,000. Finally, First Republic Investment Management Inc. grew its stake in shares of Citrix Systems by 21.4% during the second quarter. First Republic Investment Management Inc. now owns 21,288 shares of the cloud computing company’s stock valued at $2,231,000 after purchasing an additional 3,749 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

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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