Citrix Systems (NASDAQ:CTXS) announced that its board has authorized a stock repurchase program, which allows the company to buyback $1.70 billion in shares on Monday, November 13th, EventVestor reports. This buyback authorization allows the cloud computing company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
CTXS has been the subject of several recent analyst reports. Goldman Sachs Group, Inc. (The) upgraded Citrix Systems from a “neutral” rating to a “buy” rating and set a $109.00 target price for the company in a research note on Friday, November 3rd. Zacks Investment Research cut Citrix Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Robert W. Baird set a $90.00 target price on Citrix Systems and gave the stock a “buy” rating in a research note on Friday, October 6th. Royal Bank Of Canada restated a “hold” rating and set a $85.00 target price on shares of Citrix Systems in a research note on Monday, September 4th. Finally, Citigroup Inc. cut their target price on Citrix Systems from $96.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Citrix Systems presently has a consensus rating of “Hold” and a consensus target price of $89.50.
Citrix Systems (NASDAQ:CTXS) opened at $85.22 on Wednesday. The stock has a market capitalization of $12,689.87, a price-to-earnings ratio of 20.49, a P/E/G ratio of 4.02 and a beta of 1.39. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.69. Citrix Systems has a 12-month low of $66.62 and a 12-month high of $87.99.
Citrix Systems (NASDAQ:CTXS) last announced its earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.18. The business had revenue of $691.00 million during the quarter, compared to analyst estimates of $691.61 million. Citrix Systems had a return on equity of 31.32% and a net margin of 15.67%. Citrix Systems’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $1.32 EPS. equities research analysts anticipate that Citrix Systems will post 3.94 earnings per share for the current year.
In related news, CFO Mark M. Coyle sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $84.32, for a total transaction of $210,800.00. Following the completion of the transaction, the chief financial officer now directly owns 38,512 shares of the company’s stock, valued at approximately $3,247,331.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David J. Henshall sold 12,500 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $84.25, for a total value of $1,053,125.00. Following the transaction, the chief executive officer now directly owns 306,777 shares of the company’s stock, valued at $25,845,962.25. The disclosure for this sale can be found here. 0.44% of the stock is owned by company insiders.
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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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