Trading Report: Today, Citrix Systems Inc. (CTXS) gets “Hold” status at The Zacks Investment Research

Today, Citrix Systems Inc. (CTXS) gets “Hold” status at The Zacks Investment Research

Zacks Investment Research lowered shares of Citrix Systems Inc. (NASDAQ:CTXS) from a buy rating to a hold rating in a research report released on Thursday.

According to Zacks, “Citrix’s third quarter results impressed as both earnings and revenues surpassed estimates. The company witnessed an improvement in revenues across key segments such as License updates and maintenance and Software-as-a-Service (SaaS). The company’s revenues increased in Americas and Asia Pacific. However revenues in the EMEA region declined. Citrix continues to expand its product offering through rapid innovation. The company is expected to benefit from its product diversification and operations across Desktop Virtualization and Cloud Infrastructure segments. We are positive on the proposed merger between LogMeIn and Citrix's GoTo business. Despite concern of adverse foreign exchange movement, we are, impressed with Citrix raising its earnings per share guidance (adjusted basis) for 2016 to a band of $5.18–$5.20 from $5.00–$5.10. However we are concerned about macroeconomic headwinds. “

Other analysts have also issued reports about the company. Jefferies Group lowered Citrix Systems from a hold rating to an underperform rating and lowered their price objective for the company from $80.00 to $71.00 in a report on Monday, August 1st. They noted that the move was a valuation call. Barclays PLC boosted their price objective on Citrix Systems from $90.00 to $92.00 and gave the company an overweight rating in a report on Wednesday, July 27th. Morgan Stanley boosted their price objective on Citrix Systems from $70.00 to $77.00 and gave the company an underweight rating in a report on Wednesday, July 27th. Stifel Nicolaus lowered Citrix Systems from a buy rating to a hold rating in a report on Wednesday, July 27th. They noted that the move was a valuation call. Finally, BTIG Research reissued a neutral rating on shares of Citrix Systems in a report on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $90.59.

Shares of Citrix Systems (NASDAQ:CTXS) opened at 87.68 on Thursday. Citrix Systems has a 52-week low of $60.91 and a 52-week high of $90.00. The firm has a market capitalization of $13.68 billion, a PE ratio of 29.31 and a beta of 1.66. The firm’s 50-day moving average price is $85.16 and its 200-day moving average price is $84.99.

Citrix Systems (NASDAQ:CTXS) last announced its quarterly earnings data on Wednesday, October 19th. The cloud computing company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.13. The firm earned $841.30 million during the quarter, compared to analyst estimates of $827.21 million. Citrix Systems had a return on equity of 32.90% and a net margin of 13.69%. Citrix Systems’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 earnings per share. On average, equities analysts predict that Citrix Systems will post $5.20 earnings per share for the current fiscal year.

In other news, CFO David J. Henshall sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $85.05, for a total value of $2,126,250.00. Following the transaction, the chief financial officer now directly owns 216,781 shares of the company’s stock, valued at $18,437,224.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David J. Henshall sold 300 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $87.50, for a total transaction of $26,250.00. Following the completion of the transaction, the chief financial officer now directly owns 206,481 shares in the company, valued at $18,067,087.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Capstone Asset Management Co. boosted its stake in shares of Citrix Systems by 113.8% in the second quarter. Capstone Asset Management Co. now owns 34,717 shares of the cloud computing company’s stock worth $2,780,000 after buying an additional 18,476 shares in the last quarter. Creative Planning boosted its stake in shares of Citrix Systems by 17.3% in the second quarter. Creative Planning now owns 2,777 shares of the cloud computing company’s stock worth $222,000 after buying an additional 410 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Citrix Systems by 2.0% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 132,497 shares of the cloud computing company’s stock worth $10,612,000 after buying an additional 2,572 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in shares of Citrix Systems by 7.1% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 40,148 shares of the cloud computing company’s stock worth $3,215,000 after buying an additional 2,658 shares in the last quarter. Finally, DNB Asset Management AS boosted its stake in shares of Citrix Systems by 3.5% in the second quarter. DNB Asset Management AS now owns 11,808 shares of the cloud computing company’s stock worth $946,000 after buying an additional 400 shares in the last quarter. 97.33% of the stock is currently owned by institutional investors and hedge funds.

Citrix Systems Company Profile

Citrix Systems, Inc develops and sells products and services that enable delivery of applications and data over public, private or hybrid clouds or networks, to virtually any type of device. The Company operates through two segments: Enterprise and Service Provider, and Mobility Apps. The Company’s Enterprise and Service Provider segment consists of Workspace Services and Delivery Networking products.

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