Citrix Systems, Inc. (CTXS) Shares Sold by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan reduced its stake in shares of Citrix Systems, Inc. (NASDAQ:CTXS) by 15.3% during the second quarter, Holdings Channel reports. The fund owned 7,590 shares of the cloud computing company’s stock after selling 1,370 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Citrix Systems were worth $604,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. YorkBridge Wealth Partners LLC raised its stake in shares of Citrix Systems by 75.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,562 shares of the cloud computing company’s stock worth $127,000 after buying an additional 672 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Citrix Systems by 10.3% in the first quarter. Fifth Third Bancorp now owns 1,825 shares of the cloud computing company’s stock worth $152,000 after buying an additional 171 shares in the last quarter. Greenwood Capital Associates LLC purchased a new stake in shares of Citrix Systems during the first quarter worth about $200,000. ZWJ Investment Counsel Inc. purchased a new stake in shares of Citrix Systems during the first quarter worth about $225,000. Finally, Atria Investments LLC purchased a new stake in shares of Citrix Systems during the second quarter worth about $235,000. 95.80% of the stock is currently owned by institutional investors.

Shares of Citrix Systems, Inc. (CTXS) opened at 74.71 on Friday. Citrix Systems, Inc. has a 52-week low of $64.11 and a 52-week high of $87.99. The firm has a 50-day moving average price of $78.87 and a 200-day moving average price of $81.06. The stock has a market cap of $11.32 billion, a P/E ratio of 25.17 and a beta of 1.49.

Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings data on Wednesday, August 2nd. The cloud computing company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by $0.02. Citrix Systems had a return on equity of 31.07% and a net margin of 15.08%. The business had revenue of $693 million for the quarter, compared to analyst estimates of $690.83 million. During the same quarter last year, the business earned $1.20 EPS. Citrix Systems’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts anticipate that Citrix Systems, Inc. will post $4.63 EPS for the current fiscal year.

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A number of brokerages have recently issued reports on CTXS. BTIG Research reaffirmed a “neutral” rating on shares of Citrix Systems in a research note on Wednesday. Jefferies Group LLC reaffirmed a “sell” rating and issued a $61.00 price target on shares of Citrix Systems in a research note on Friday, August 11th. MKM Partners reaffirmed a “buy” rating and issued a $90.00 price target (down from $95.00) on shares of Citrix Systems in a research note on Wednesday, August 9th. Barclays PLC reaffirmed an “overweight” rating and issued a $90.00 price target (up from $87.00) on shares of Citrix Systems in a research note on Wednesday, August 9th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $77.00 price target on shares of Citrix Systems in a research note on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $89.25.

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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