Rhumbline Advisers lessened its stake in shares of Citrix Systems, Inc. (NASDAQ:CTXS) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,408 shares of the cloud computing company’s stock after selling 1,761 shares during the quarter. Rhumbline Advisers owned about 0.20% of Citrix Systems worth $25,996,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. BT Investment Management Ltd lifted its position in Citrix Systems by 11.7% in the 3rd quarter. BT Investment Management Ltd now owns 1,314,871 shares of the cloud computing company’s stock valued at $101,020,000 after acquiring an additional 138,032 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in Citrix Systems by 10.5% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 20,476 shares of the cloud computing company’s stock valued at $1,573,000 after acquiring an additional 1,954 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in Citrix Systems in the 3rd quarter valued at about $251,000. Crossmark Global Holdings Inc. bought a new position in Citrix Systems in the 3rd quarter valued at about $3,367,000. Finally, APG Asset Management N.V. lifted its position in Citrix Systems by 63.5% in the 3rd quarter. APG Asset Management N.V. now owns 532,823 shares of the cloud computing company’s stock valued at $40,931,000 after acquiring an additional 206,900 shares in the last quarter. 92.00% of the stock is currently owned by institutional investors.
Citrix Systems, Inc. (NASDAQ CTXS) opened at $91.61 on Friday. Citrix Systems, Inc. has a 1 year low of $73.33 and a 1 year high of $95.00. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market cap of $12,441.46, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 2.90 and a beta of 1.34.
Citrix Systems announced that its Board of Directors has initiated a stock buyback program on Monday, November 13th that authorizes the company to buyback $1.70 billion in shares. This buyback authorization authorizes the cloud computing company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO David J. Henshall sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $88.31, for a total transaction of $1,103,875.00. Following the completion of the sale, the chief executive officer now owns 294,277 shares in the company, valued at approximately $25,987,601.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark M. Coyle sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $88.90, for a total transaction of $222,250.00. Following the sale, the chief financial officer now owns 36,012 shares of the company’s stock, valued at approximately $3,201,466.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,500 shares of company stock valued at $2,483,875. 0.44% of the stock is currently owned by company insiders.
CTXS has been the topic of several recent research reports. Robert W. Baird reaffirmed a “buy” rating on shares of Citrix Systems in a research report on Thursday, January 4th. Citigroup dropped their price target on shares of Citrix Systems from $96.00 to $94.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. Goldman Sachs Group raised shares of Citrix Systems from a “neutral” rating to a “buy” rating and set a $109.00 price target on the stock in a research report on Friday, November 3rd. Mizuho reissued a “buy” rating and set a $101.00 target price (up previously from $92.00) on shares of Citrix Systems in a research report on Wednesday, January 17th. Finally, BidaskClub raised shares of Citrix Systems from a “hold” rating to a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $91.31.
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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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