Citrix Systems (NASDAQ:CTXS) PT Lowered to $116.00 at Bank of America

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Citrix Systems (NASDAQ:CTXS) had its price objective reduced by Bank of America from $123.00 to $116.00 in a research note published on Thursday, October 25th. They currently have a neutral rating on the cloud computing company’s stock.

A number of other analysts have also recently commented on CTXS. Wells Fargo & Co boosted their target price on shares of Citrix Systems from $120.00 to $130.00 and gave the stock an outperform rating in a research note on Tuesday, July 24th. BidaskClub cut shares of Citrix Systems from a sell rating to a strong sell rating in a research note on Saturday, October 6th. Robert W. Baird cut shares of Citrix Systems from an outperform rating to a neutral rating and set a $110.00 price objective for the company. in a research note on Friday, July 20th. Cowen reaffirmed a hold rating and set a $120.00 price objective on shares of Citrix Systems in a research note on Thursday, July 26th. Finally, Barclays boosted their target price on shares of Citrix Systems from $112.00 to $114.00 and gave the company an equal weight rating in a report on Friday, September 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Citrix Systems presently has a consensus rating of Hold and an average target price of $113.57.

NASDAQ CTXS opened at $108.75 on Thursday. The firm has a market cap of $14.66 billion, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 2.71 and a beta of 1.36. Citrix Systems has a 1 year low of $83.70 and a 1 year high of $116.82. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.82.

Citrix Systems (NASDAQ:CTXS) last posted its earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.15. Citrix Systems had a net margin of 4.27% and a return on equity of 91.46%. The company had revenue of $732.47 million during the quarter, compared to the consensus estimate of $722.76 million. During the same period in the previous year, the firm posted $1.22 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts predict that Citrix Systems will post 4.38 EPS for the current fiscal year.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Thursday, December 6th.

In related news, VP Jessica Soisson sold 1,136 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $113.78, for a total value of $129,254.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Paul J. Hough sold 8,483 shares of the 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 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. Over the last three months, insiders sold 21,641 shares of company stock worth $2,315,751. Insiders own 0.56% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC lifted its stake in shares of Citrix Systems by 33.8% in the first quarter. Cubist Systematic Strategies LLC now owns 3,968 shares of the cloud computing company’s stock valued at $368,000 after purchasing an additional 1,002 shares during the period. Summit Trail Advisors LLC increased its holdings in Citrix Systems by 18.6% during the 1st quarter. Summit Trail Advisors LLC now owns 9,605 shares of the cloud computing company’s stock valued at $668,000 after acquiring an additional 1,508 shares in the last quarter. Suntrust Banks Inc. increased its holdings in Citrix Systems by 110.1% during the 1st quarter. Suntrust Banks Inc. now owns 8,456 shares of the cloud computing company’s stock valued at $784,000 after acquiring an additional 4,432 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Citrix Systems during the first quarter worth about $658,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in shares of Citrix Systems during the first quarter worth about $467,000. Institutional investors own 95.37% of the company’s stock.

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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