BidaskClub Lowers Citrix Systems (NASDAQ:CTXS) to Sell

BidaskClub lowered shares of Citrix Systems (NASDAQ:CTXS) from a hold rating to a sell rating in a research note released on Thursday morning, BidAskClub reports.

Several other research firms have also weighed in on CTXS. Wedbush reiterated an outperform rating on shares of Alphabet in a research note on Thursday, April 25th. ValuEngine upgraded shares of Alleghany from a hold rating to a buy rating in a research note on Friday, April 19th. Deutsche Bank reiterated a buy rating and issued a GBX 6,800 ($88.85) price objective on shares of in a research note on Thursday, June 6th. Finally, Zacks Investment Research upgraded shares of Triple-S Management from a hold rating to a buy rating and set a $26.00 price objective for the company in a research note on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Citrix Systems has a consensus rating of Hold and an average price target of $114.82.

Shares of NASDAQ CTXS opened at $100.84 on Thursday. The firm has a market cap of $13.28 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.85 and a beta of 0.98. Citrix Systems has a 52-week low of $93.12 and a 52-week high of $116.82. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. The stock has a 50 day moving average price of $97.19.

Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings results on Wednesday, April 24th. The cloud computing company reported $1.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.41. The firm had revenue of $719.14 million for the quarter, compared to the consensus estimate of $707.78 million. Citrix Systems had a net margin of 18.08% and a return on equity of 94.77%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 EPS. On average, sell-side analysts expect that Citrix Systems will post 4.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. Citrix Systems’s dividend payout ratio (DPR) is presently 30.57%.

In other Citrix Systems news, EVP Mark J. Ferrer sold 1,224 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $100.90, for a total transaction of $123,501.60. Following the completion of the sale, the executive vice president now owns 71,572 shares in the company, valued at approximately $7,221,614.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David J. Henshall sold 4,298 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $101.00, for a total transaction of $434,098.00. Following the sale, the chief executive officer now owns 378,327 shares of the company’s stock, valued at approximately $38,211,027. The disclosure for this sale can be found here. Insiders have sold a total of 17,466 shares of company stock valued at $1,716,076 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in CTXS. National Pension Service grew its stake in shares of Citrix Systems by 6.8% in the 4th quarter. National Pension Service now owns 172,218 shares of the cloud computing company’s stock worth $18,290,000 after acquiring an additional 10,907 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Citrix Systems by 3.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 5,783 shares of the cloud computing company’s stock worth $592,000 after acquiring an additional 174 shares in the last quarter. Bank of Hawaii grew its stake in shares of Citrix Systems by 56.2% in the 1st quarter. Bank of Hawaii now owns 12,395 shares of the cloud computing company’s stock worth $1,235,000 after acquiring an additional 4,460 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Citrix Systems in the 1st quarter worth $316,000. Finally, MML Investors Services LLC grew its stake in shares of Citrix Systems by 86.8% in the 4th quarter. MML Investors Services LLC now owns 5,259 shares of the cloud computing company’s stock worth $539,000 after acquiring an additional 2,444 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

About Citrix Systems

Citrix Systems, Inc provides workspace, networking, and analytics solutions worldwide. The company offers workspace services, including Citrix Virtual Apps and Desktops, a cloud-enabled app and desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and Citrix Virtual Apps that allows Windows and Linux applications to be remotely delivered to Macs, PCs, thin clients, and Android/iOS mobile devices from any cloud, on-premises datacenter, or both.

Further Reading: Hedge Funds

Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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