Citrix Systems (CTXS) Downgraded by Cowen

Cowen downgraded shares of Citrix Systems (NASDAQ:CTXS) from an outperform rating to a market perform rating in a research note issued to investors on Thursday morning. Cowen currently has $93.00 target price on the cloud computing company’s stock, up from their prior target price of $90.00. The analysts noted that the move was a valuation call.

CTXS has been the topic of a number of other reports. Stifel Nicolaus dropped their target price on shares of Citrix Systems from $77.00 to $76.00 and set a hold rating on the stock in a research report on Thursday, October 26th. Zacks Investment Research downgraded shares of Citrix Systems from a hold rating to a sell rating in a research report on Wednesday, October 4th. BidaskClub downgraded shares of Citrix Systems from a sell rating to a strong sell rating in a research report on Saturday, December 2nd. Wells Fargo & Co raised shares of Citrix Systems from a market perform rating to an outperform rating and increased their target price for the company from $82.50 to $95.00 in a research report on Monday, October 2nd. Finally, Robert W. Baird set a $90.00 price objective on shares of Citrix Systems and gave the stock a buy rating in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $89.00.

Citrix Systems (CTXS) traded up $0.23 during midday trading on Thursday, hitting $90.04. 1,066,100 shares of the company were exchanged, compared to its average volume of 1,244,289. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.44 and a quick ratio of 1.43. The stock has a market cap of $13,570.00, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 4.45 and a beta of 1.41. Citrix Systems has a 1 year low of $70.24 and a 1 year high of $91.83.

Citrix Systems (NASDAQ:CTXS) last posted its earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.18. The firm had revenue of $691.00 million for the quarter, compared to the consensus estimate of $691.61 million. Citrix Systems had a net margin of 15.67% and a return on equity of 31.32%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $1.32 EPS. equities analysts expect that Citrix Systems will post 3.93 earnings per share for the current year.

Citrix Systems declared that its Board of Directors has initiated a stock buyback program on Monday, November 13th that allows the company to buyback $1.70 billion in outstanding shares. This buyback authorization allows the cloud computing company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

In other news, CFO Mark M. Coyle sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $84.32, for a total value of $210,800.00. Following the completion of the sale, the chief financial officer now owns 38,512 shares in the company, valued at approximately $3,247,331.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David J. Henshall sold 12,500 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $84.25, for a total transaction of $1,053,125.00. Following the completion of the sale, the chief executive officer now owns 306,777 shares of the company’s stock, valued at approximately $25,845,962.25. The disclosure for this sale can be found here. Insiders have sold a total of 98,530 shares of company stock worth $8,448,117 over the last three months. 0.44% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in CTXS. LSV Asset Management acquired a new stake in shares of Citrix Systems in the 2nd quarter worth $851,000. Fiera Capital Corp lifted its stake in shares of Citrix Systems by 16.8% in the 2nd quarter. Fiera Capital Corp now owns 6,540 shares of the cloud computing company’s stock worth $521,000 after acquiring an additional 940 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Citrix Systems by 10.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 422,841 shares of the cloud computing company’s stock worth $33,641,000 after acquiring an additional 38,817 shares during the period. Bridgewater Associates LP acquired a new stake in shares of Citrix Systems in the 2nd quarter worth $2,911,000. Finally, Norinchukin Bank The lifted its stake in shares of Citrix Systems by 3.2% in the 2nd quarter. Norinchukin Bank The now owns 10,488 shares of the cloud computing company’s stock worth $835,000 after acquiring an additional 328 shares during the period. Institutional investors own 94.23% of the company’s stock.

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Citrix Systems Company Profile

Citrix Systems, Inc offers Enterprise and Service Provider products, which include Workspace Services solutions and Delivery Networking products. The Company’s Enterprise and Service Provider products include Cloud Services solutions, and related license updates and maintenance, support and professional services.

Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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