Securian Asset Management Inc raised its stake in Citrix Systems, Inc. (NASDAQ:CTXS) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,227 shares of the cloud computing company’s stock after buying an additional 142 shares during the period. Securian Asset Management Inc’s holdings in Citrix Systems were worth $1,355,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hartford Investment Management Co. raised its stake in Citrix Systems by 1.6% during the 4th quarter. Hartford Investment Management Co. now owns 21,912 shares of the cloud computing company’s stock worth $2,245,000 after buying an additional 335 shares during the period. M&T Bank Corp raised its stake in Citrix Systems by 1.7% during the 4th quarter. M&T Bank Corp now owns 13,690 shares of the cloud computing company’s stock worth $1,403,000 after buying an additional 231 shares during the period. LS Investment Advisors LLC raised its stake in Citrix Systems by 7.6% during the 4th quarter. LS Investment Advisors LLC now owns 13,937 shares of the cloud computing company’s stock worth $1,428,000 after buying an additional 989 shares during the period. CWM Advisors LLC acquired a new position in Citrix Systems during the 4th quarter worth approximately $453,000. Finally, Janney Montgomery Scott LLC raised its stake in Citrix Systems by 6.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 31,783 shares of the cloud computing company’s stock worth $3,257,000 after buying an additional 2,033 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.
A number of research firms recently weighed in on CTXS. BidaskClub raised Citrix Systems from a “hold” rating to a “buy” rating in a research note on Thursday, February 7th. TheStreet raised Citrix Systems from a “c+” rating to a “b” rating in a research note on Wednesday, January 23rd. Wedbush dropped their price target on Citrix Systems from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, January 24th. Finally, Zacks Investment Research reaffirmed a “hold” rating and set a $113.00 price target on shares of Citrix Systems in a research note on Monday, December 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Citrix Systems has a consensus rating of “Hold” and a consensus target price of $113.77.
In other Citrix Systems news, VP Jessica Soisson sold 1,466 shares of the stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $110.77, for a total transaction of $162,388.82. Following the completion of the transaction, the vice president now directly owns 18,526 shares of the company’s stock, valued at $2,052,125.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark J. Ferrer sold 1,388 shares of the stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $107.41, for a total value of $149,085.08. Following the transaction, the executive vice president now directly owns 62,013 shares of the company’s stock, valued at $6,660,816.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,973 shares of company stock valued at $3,693,541. 0.56% of the stock is currently owned by corporate insiders.
CTXS stock opened at $105.04 on Tuesday. The company has a market capitalization of $14.26 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 2.80 and a beta of 1.06. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.72 and a quick ratio of 0.71. Citrix Systems, Inc. has a 12-month low of $85.10 and a 12-month high of $116.82.
Citrix Systems (NASDAQ:CTXS) last released its earnings results on Wednesday, January 23rd. The cloud computing company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.08. The company had revenue of $802.00 million during the quarter, compared to analyst estimates of $791.27 million. Citrix Systems had a return on equity of 101.74% and a net margin of 19.36%. Citrix Systems’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 earnings per share. Analysts anticipate that Citrix Systems, Inc. will post 4.58 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, March 7th. Citrix Systems’s dividend payout ratio is presently 30.57%.
Citrix Systems announced that its board has initiated a stock repurchase program on Wednesday, October 24th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the cloud computing company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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.
Further Reading: Coverage Ratio
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