Citrix Systems Inc. (CTXS) Sees Significant Drop in Short Interest
Citrix Systems Inc. (NASDAQ:CTXS) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 7,545,762 shares, a decrease of 12.2% from the October 14th total of 8,595,705 shares. Currently, 4.9% of the shares of the stock are short sold. Based on an average trading volume of 1,959,458 shares, the days-to-cover ratio is presently 3.9 days.
In other Citrix Systems news, VP Jessica Soisson sold 2,388 shares of the company’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $84.70, for a total value of $202,263.60. Following the sale, the vice president now owns 12,353 shares of the company’s stock, valued at $1,046,299.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Murray J. Demo sold 1,000 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $88.22, for a total value of $88,220.00. Following the completion of the sale, the director now directly owns 16,276 shares in the company, valued at approximately $1,435,868.72. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CTXS. Vanguard Group Inc. increased its stake in Citrix Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 13,720,584 shares of the cloud computing company’s stock valued at $1,098,882,000 after buying an additional 291,368 shares during the period. FMR LLC increased its stake in Citrix Systems by 65.3% in the second quarter. FMR LLC now owns 4,754,745 shares of the cloud computing company’s stock valued at $380,807,000 after buying an additional 1,878,884 shares during the period. Nordea Investment Management AB increased its stake in Citrix Systems by 70.2% in the third quarter. Nordea Investment Management AB now owns 3,259,636 shares of the cloud computing company’s stock valued at $277,786,000 after buying an additional 1,344,047 shares during the period. Bank of Montreal Can bought a new stake in Citrix Systems during the second quarter valued at about $213,278,000. Finally, AJO LP increased its stake in Citrix Systems by 43.5% in the second quarter. AJO LP now owns 2,290,912 shares of the cloud computing company’s stock valued at $183,479,000 after buying an additional 694,454 shares during the period. Institutional investors own 96.99% of the company’s stock.
Several analysts have weighed in on CTXS shares. Zacks Investment Research raised Citrix Systems from a “sell” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Friday, July 29th. William Blair reissued a “market perform” rating on shares of Citrix Systems in a report on Thursday, October 20th. Citigroup Inc. upped their target price on Citrix Systems from $93.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Morgan Stanley upped their target price on Citrix Systems from $70.00 to $77.00 and gave the company an “underweight” rating in a report on Wednesday, July 27th. Finally, Mizuho increased their price objective on Citrix Systems from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company. Citrix Systems has a consensus rating of “Hold” and a consensus target price of $88.27.
Citrix Systems (NASDAQ:CTXS) opened at 85.55 on Friday. The firm has a market cap of $13.34 billion, a price-to-earnings ratio of 28.60 and a beta of 1.66. Citrix Systems has a 12 month low of $60.91 and a 12 month high of $90.00. The stock has a 50 day moving average price of $84.72 and a 200 day moving average price of $84.67.
Citrix Systems (NASDAQ:CTXS) last released its quarterly earnings results on Wednesday, October 19th. The cloud computing company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.13. The company earned $841.30 million during the quarter, compared to the consensus estimate of $827.21 million. Citrix Systems had a return on equity of 32.90% and a net margin of 13.69%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.04 EPS. On average, equities analysts expect that Citrix Systems will post $5.20 earnings per share for the current fiscal year.
About Citrix Systems
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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