Citrix Systems, Inc. (CTXS) Position Raised by Stifel Financial Corp
Stifel Financial Corp raised its stake in Citrix Systems, Inc. (NASDAQ:CTXS) by 9.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,765 shares of the cloud computing company’s stock after acquiring an additional 9,749 shares during the quarter. Stifel Financial Corp owned approximately 0.08% of Citrix Systems worth $8,738,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Farallon Capital Management LLC lifted its holdings in shares of Citrix Systems by 8.2% in the second quarter. Farallon Capital Management LLC now owns 1,606,673 shares of the cloud computing company’s stock worth $127,859,000 after acquiring an additional 121,549 shares during the last quarter. BT Investment Management Ltd lifted its holdings in shares of Citrix Systems by 11.7% in the third quarter. BT Investment Management Ltd now owns 1,314,871 shares of the cloud computing company’s stock worth $101,020,000 after acquiring an additional 138,032 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Citrix Systems by 0.9% in the third quarter. Schroder Investment Management Group now owns 1,267,628 shares of the cloud computing company’s stock worth $97,221,000 after acquiring an additional 10,876 shares during the last quarter. Numeric Investors LLC lifted its holdings in shares of Citrix Systems by 61.4% in the second quarter. Numeric Investors LLC now owns 1,156,334 shares of the cloud computing company’s stock worth $92,021,000 after acquiring an additional 439,821 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Citrix Systems by 22.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,100,626 shares of the cloud computing company’s stock worth $87,588,000 after acquiring an additional 200,291 shares during the last quarter. 94.42% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Rotterdam Jeroen Van sold 8,530 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $84.58, for a total value of $721,467.40. Following the transaction, the senior vice president now directly owns 67,122 shares in the company, valued at approximately $5,677,178.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David J. Henshall sold 12,500 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $88.31, for a total value of $1,103,875.00. Following the completion of the transaction, the chief executive officer now owns 294,277 shares in the company, valued at $25,987,601.87. The disclosure for this sale can be found here. Insiders have sold a total of 96,030 shares of company stock worth $8,225,867 over the last 90 days. Company insiders own 0.44% of the company’s stock.
Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. The firm had revenue of $691.00 million for the quarter, compared to analysts’ expectations of $691.61 million. Citrix Systems had a return on equity of 31.32% and a net margin of 15.67%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 EPS. equities research analysts forecast that Citrix Systems, Inc. will post 3.93 earnings per share for the current fiscal year.
Citrix Systems declared that its Board of Directors has initiated a share repurchase program on Monday, November 13th that permits the company to repurchase $1.70 billion in outstanding shares. This repurchase authorization permits the cloud computing company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
A number of research firms have recently commented on CTXS. BidaskClub cut shares of Citrix Systems from a “sell” rating to a “strong sell” rating in a report on Saturday, December 2nd. BTIG Research reissued a “neutral” rating on shares of Citrix Systems in a report on Wednesday, August 16th. Wells Fargo & Company raised shares of Citrix Systems from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $82.50 to $95.00 in a report on Monday, October 2nd. Mizuho reaffirmed a “buy” rating and issued a $94.00 price objective (up previously from $92.00) on shares of Citrix Systems in a research note on Wednesday, October 25th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Citrix Systems in a research note on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $89.50.
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About Citrix Systems
Citrix Systems, Inc offers Enterprise and Service Provider products, which include Workspace Services solutions and Delivery Networking products. The Company’s Enterprise and Service Provider products include Cloud Services solutions, and related license updates and maintenance, support and professional services.
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