Traders Sell Citrix Systems (CTXS) on Strength on Insider Selling
Investors sold shares of Citrix Systems, Inc. (NASDAQ:CTXS) on strength during trading on Friday following insider selling activity. $19.51 million flowed into the stock on the tick-up and $48.12 million flowed out of the stock on the tick-down, for a money net flow of $28.61 million out of the stock. Of all companies tracked, Citrix Systems had the 23rd highest net out-flow for the day. Citrix Systems traded up $0.29 for the day and closed at $106.14Specifically, VP Jessica Soisson sold 1,466 shares of the company’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $110.77, for a total value of $162,388.82. Following the transaction, the vice president now directly owns 18,526 shares in the company, valued at approximately $2,052,125.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark J. Ferrer sold 1,388 shares of the company’s stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $100.14, for a total transaction of $138,994.32. Following the completion of the transaction, the executive vice president now owns 60,809 shares in the company, valued at $6,089,413.26. The disclosure for this sale can be found here. Insiders sold a total of 44,196 shares of company stock worth $4,644,920 over the last 90 days. Insiders own 0.56% of the company’s stock.
A number of equities analysts have commented on the stock. BidaskClub downgraded shares of Citrix Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research reaffirmed a “hold” rating and issued a $113.00 price target on shares of Citrix Systems in a research report on Monday, December 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $113.57.
The stock has a market capitalization of $14.13 billion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 2.39 and a beta of 1.26. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.98.
The company also recently announced a quarterly dividend, which was paid on Friday, December 21st. Investors of record on Friday, December 7th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.32%. Citrix Systems’s payout ratio is 33.82%.
Citrix Systems announced that its board has approved a share buyback plan on Wednesday, October 24th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the cloud computing company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc lifted its position in Citrix Systems by 3.5% during the third quarter. Vanguard Group Inc now owns 14,060,558 shares of the cloud computing company’s stock valued at $1,562,972,000 after acquiring an additional 472,583 shares during the last quarter. First Trust Advisors LP lifted its position in Citrix Systems by 7.5% during the third quarter. First Trust Advisors LP now owns 3,021,416 shares of the cloud computing company’s stock valued at $335,861,000 after acquiring an additional 209,493 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd lifted its position in Citrix Systems by 14.6% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,280,058 shares of the cloud computing company’s stock valued at $253,451,000 after acquiring an additional 291,119 shares during the last quarter. Man Group plc lifted its position in Citrix Systems by 11.9% during the third quarter. Man Group plc now owns 1,898,908 shares of the cloud computing company’s stock valued at $211,082,000 after acquiring an additional 201,851 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Citrix Systems by 154.3% during 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 during the last quarter. 99.52% of the stock is owned by institutional investors.
About Citrix Systems (NASDAQ:CTXS)
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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