Citrix Systems (CTXS) Now Covered by Wedbush

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Analysts at Wedbush initiated coverage on shares of Citrix Systems (NASDAQ:CTXS) in a research note issued to investors on Thursday, MarketBeat.com reports. The firm set a “neutral” rating and a $115.00 price target on the cloud computing company’s stock. Wedbush’s target price points to a potential upside of 14.20% from the stock’s previous close.

A number of other research firms have also weighed in on CTXS. Stifel Nicolaus upped their price objective on Citrix Systems from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Robert W. Baird reaffirmed a “hold” rating and set a $120.00 price objective on shares of Citrix Systems in a research report on Thursday, July 26th. BidaskClub raised Citrix Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 1st. Cowen reaffirmed a “hold” rating and set a $120.00 price objective on shares of Citrix Systems in a research report on Thursday, July 26th. Finally, Zacks Investment Research lowered Citrix Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $114.27.

Citrix Systems stock opened at $100.70 on Thursday. Citrix Systems has a twelve month low of $80.20 and a twelve month high of $116.82. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $14.03 billion, a PE ratio of 22.63, a P/E/G ratio of 2.70 and a beta of 1.19.

Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings data on Wednesday, July 25th. The cloud computing company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.08. Citrix Systems had a return on equity of 64.77% and a net margin of 3.23%. The business had revenue of $742.36 million for the quarter, compared to analyst estimates of $716.33 million. During the same quarter in the prior year, the company earned $103.00 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. Analysts predict that Citrix Systems will post 4.2 EPS for the current year.

In related news, EVP Rotterdam Jeroen Van sold 7,766 shares of the stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $109.78, for a total value of $852,551.48. Following the transaction, the executive vice president now owns 59,685 shares of the company’s stock, valued at $6,552,219.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jessica Soisson sold 1,136 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $113.78, for a total value of $129,254.08. The disclosure for this sale can be found here. Insiders sold 13,158 shares of company stock worth $1,457,371 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of CTXS. Renaissance Technologies LLC increased its holdings in Citrix Systems by 414.0% in the second quarter. Renaissance Technologies LLC now owns 1,751,190 shares of the cloud computing company’s stock valued at $183,595,000 after buying an additional 1,410,500 shares during the last quarter. Millennium Management LLC boosted its stake in Citrix Systems by 154.3% in the second quarter. Millennium Management LLC now owns 1,331,695 shares of the cloud computing company’s stock valued at $139,615,000 after acquiring an additional 807,986 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in Citrix Systems by 8,150.5% in the first quarter. Summit Trail Advisors LLC now owns 668,045 shares of the cloud computing company’s stock valued at $668,000 after acquiring an additional 659,948 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Citrix Systems by 6,420.8% in the second quarter. Wedge Capital Management L L P NC now owns 615,107 shares of the cloud computing company’s stock valued at $64,488,000 after acquiring an additional 605,674 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Citrix Systems by 81.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 927,034 shares of the cloud computing company’s stock valued at $97,191,000 after acquiring an additional 416,446 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Citrix Systems Company Profile

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.

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Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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