Citrix Systems (NASDAQ:CTXS) Upgraded to “Buy” at Deutsche Bank

Deutsche Bank upgraded shares of Citrix Systems (NASDAQ:CTXS) from a hold rating to a buy rating in a research note issued to investors on Thursday, June 6th, Stock Target Advisor reports. They currently have $120.00 target price on the cloud computing company’s stock, up from their prior target price of $110.00.

Other equities research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Citrix Systems from a hold rating to a buy rating in a research note on Thursday, February 7th. Wedbush restated a hold rating and issued a $100.00 target price on shares of Citrix Systems in a research note on Thursday, April 25th. ValuEngine downgraded shares of Citrix Systems from a buy rating to a hold rating in a research note on Friday, April 19th. Finally, Zacks Investment Research downgraded shares of Citrix Systems from a hold rating to a sell rating in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Citrix Systems presently has a consensus rating of Hold and an average target price of $114.82.

Shares of NASDAQ:CTXS traded up $0.42 during trading on Thursday, reaching $98.14. The stock had a trading volume of 773,710 shares, compared to its average volume of 2,043,884. Citrix Systems has a 52 week low of $93.12 and a 52 week high of $116.82. The firm’s fifty day moving average is $96.29. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 2.75 and a beta of 1.00. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.85.

Citrix Systems (NASDAQ:CTXS) last announced its 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. Citrix Systems had a net margin of 18.08% and a return on equity of 94.77%. The business had revenue of $719.14 million for the quarter, compared to analyst estimates of $707.78 million. During the same quarter in the previous year, the firm posted $1.29 earnings per share. Citrix Systems’s revenue was up 3.1% compared to the same quarter last year. On average, equities analysts expect that Citrix Systems will post 4.37 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.35 dividend. The ex-dividend date was Thursday, June 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.43%. Citrix Systems’s dividend payout ratio (DPR) is presently 30.57%.

In other news, CEO David J. Henshall sold 4,298 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $100.00, for a total value of $429,800.00. Following the completion of the sale, the chief executive officer now directly owns 355,156 shares of the company’s stock, valued at approximately $35,515,600. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David J. Henshall sold 4,367 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $93.99, for a total value of $410,454.33. Following the completion of the sale, the chief executive officer now directly owns 373,960 shares of the company’s stock, valued at $35,148,500.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,454 shares of company stock valued at $1,818,434. 0.54% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC increased its stake in Citrix Systems by 43.4% during the 4th quarter. CWM LLC now owns 324 shares of the cloud computing company’s stock worth $33,000 after purchasing an additional 98 shares in the last quarter. Glassman Wealth Services boosted its position in Citrix Systems by 46.5% during the 1st quarter. Glassman Wealth Services now owns 334 shares of the cloud computing company’s stock worth $33,000 after acquiring an additional 106 shares during the last quarter. Arcadia Investment Management Corp MI boosted its position in Citrix Systems by 0.8% during the 1st quarter. Arcadia Investment Management Corp MI now owns 14,200 shares of the cloud computing company’s stock worth $1,415,000 after acquiring an additional 110 shares during the last quarter. MV Capital Management Inc. boosted its position in Citrix Systems by 34.8% during the 1st quarter. MV Capital Management Inc. now owns 476 shares of the cloud computing company’s stock worth $47,000 after acquiring an additional 123 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Citrix Systems by 8.1% during the 4th quarter. Bessemer Group Inc. now owns 1,659 shares of the cloud computing company’s stock worth $169,000 after acquiring an additional 124 shares during the last quarter. 97.69% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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