New Rating issued on Citrix Systems (CTXS): Downgraded by BofA/Merrill to ” Neutral”

Citrix Systems (CTXS) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , Citrix Systems was Downgraded by BofA/Merrill to ” Neutral” on Mar 15, 2017. Shares were Downgraded by Robert W. Baird on Feb 28, 2017 to ” Neutral” and Lowered the Price Target to $ 85 from a previous price target of $100 .Shares were Reiterated by Mizuho on Feb 2, 2017 to “Buy” and Lowered the Price Target to $ 85 from a previous price target of $100 .Citrix Systems was Initiated by Wells Fargo to “Market Perform” on Jan 11, 2017.

Several company insiders have filed Insider transactions , on Mar 14, 2017, Timothy A. Minahan (CMO) sold 14,886 shares at $82.00 per share price. According to the SEC, on Mar 1, 2017, Murray J Demo (director) sold 1,000 shares at $79.47 per share price. On Dec 12, 2016, David J Henshall (EVP, COO & CFO) sold 2,374 shares at $90.00 per share price, according to the Form-4 filing with the securities and exchange commission.

On the company’s financial health, Citrix Systems reported $1.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jan 25, 2017. Analyst had a consensus of $1.49. The company had revenue of $908.40 million for the quarter, compared to analysts expectations of $901.34 million. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS.

Citrix Systems opened for trading at $81.65 and hit $83.22 on the upside on Wednesday, eventually ending the session at $82.51, with a gain of 0.60% or 0.49 points. The heightened volatility saw the trading volume jump to 32,11,466 shares. Company has a market cap of $12,901 M.

Citrix Systems Inc. provides virtualization mobility management networking and SaaS solutions to businesses. The Company’s solutions offer secure mobile workspaces that provide people with access to apps desktops data and communications on any device over any network or cloud. It markets and licenses its products directly to customers. The Company operates through two segments: Enterprise and Service Provider division and the Mobility Apps division. Enterprise and Service Provider division’s Workspace services include mobile platforms desktop and application virtualization citrix workspace suite and delivery networking. Its Mobility Apps applications include communications cloud documents cloud and workflow cloud. It also offers Professional Services and Technology products which include Citrix HDX FlexCast Citrix personalization technologies NetScaler Software Packet Engine ByteMobile Adaptive Traffic Management System XenMobile and Citrix Internet among others.

Citrix Systems

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