Barclays Downgrades Citrix Systems (CTXS) to Equal Weight

Citrix Systems (NASDAQ:CTXS) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Monday, MarketBeat reports. They currently have a $90.00 target price on the cloud computing company’s stock. Barclays’ price target indicates a potential downside of 1.30% from the company’s previous close.

Several other analysts also recently weighed in on the stock. BidaskClub raised shares of Citrix Systems from a “strong sell” rating to a “sell” rating in a research note on Friday, January 5th. Robert W. Baird reaffirmed a “buy” rating on shares of Citrix Systems in a research note on Thursday, January 4th. Zacks Investment Research raised shares of Citrix Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. KeyCorp reissued a “hold” rating on shares of Citrix Systems in a research note on Friday, November 10th. Finally, Goldman Sachs Group raised shares of Citrix Systems from a “neutral” rating to a “buy” rating and set a $109.00 price objective for the company in a research note on Friday, November 3rd. 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 presently has an average rating of “Hold” and a consensus target price of $89.50.

Citrix Systems (NASDAQ CTXS) traded up $0.22 during trading on Monday, hitting $91.19. 821,800 shares of the stock traded hands, compared to its average volume of 1,100,950. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.69. Citrix Systems has a 1 year low of $70.24 and a 1 year high of $91.83. The company has a market capitalization of $13,740.00, a P/E ratio of 28.32, a PEG ratio of 4.52 and a beta of 1.41.

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

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

In other Citrix Systems news, CFO Mark M. Coyle sold 2,500 shares of Citrix Systems stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $88.90, for a total value of $222,250.00. Following the transaction, the chief financial officer now directly owns 36,012 shares of the company’s stock, valued at $3,201,466.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David J. Henshall sold 12,500 shares of Citrix Systems 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 transaction, the chief executive officer now directly owns 306,777 shares in the company, valued at $25,845,962.25. The disclosure for this sale can be found here. Insiders sold 98,530 shares of company stock worth $8,448,117 over the last ninety days. Corporate insiders own 0.44% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Grove Bank & Trust grew its holdings in Citrix Systems by 50.0% in the third quarter. Grove Bank & Trust now owns 2,303 shares of the cloud computing company’s stock worth $177,000 after purchasing an additional 768 shares during the last quarter. Intact Investment Management Inc. purchased a new position in Citrix Systems in the third quarter worth $215,000. Colony Group LLC purchased a new position in Citrix Systems in the second quarter worth $228,000. Quantitative Systematic Strategies LLC purchased a new position in Citrix Systems in the third quarter worth $251,000. Finally, Hillsdale Investment Management Inc. grew its holdings in Citrix Systems by 3,050.0% in the second quarter. Hillsdale Investment Management Inc. now owns 3,780 shares of the cloud computing company’s stock worth $300,000 after purchasing an additional 3,660 shares during the last quarter. 94.22% of the stock is currently owned by institutional investors and hedge funds.

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About Citrix Systems

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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