Citrix Systems, Inc. (NASDAQ:CTXS) declared a quarterly dividend on Thursday, April 29th, Zacks reports. Investors of record on Friday, June 11th will be paid a dividend of 0.37 per share by the cloud computing company on Friday, June 25th. This represents a $1.48 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, June 10th.
Citrix Systems has a dividend payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Citrix Systems to earn $4.25 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 34.8%.
Shares of NASDAQ:CTXS opened at $118.44 on Wednesday. The company has a market cap of $14.71 billion, a P/E ratio of 36.11, a price-to-earnings-growth ratio of 2.89 and a beta of 0.15. Citrix Systems has a 12 month low of $111.26 and a 12 month high of $173.56. The firm’s 50-day moving average price is $127.33. The company has a debt-to-equity ratio of 13.91, a current ratio of 0.69 and a quick ratio of 0.68.
Several research firms have issued reports on CTXS. Bank of America began coverage on shares of Citrix Systems in a research report on Tuesday, April 13th. They issued an “underperform” rating for the company. Jefferies Financial Group raised shares of Citrix Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $150.00 to $180.00 in a research report on Wednesday, April 21st. Zacks Investment Research cut shares of Citrix Systems from a “hold” rating to a “strong sell” rating and set a $106.00 price target for the company. in a research report on Wednesday, May 5th. Finally, Morgan Stanley lowered their price target on shares of Citrix Systems from $150.00 to $143.00 and set an “equal weight” rating for the company in a research report on Friday, April 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Citrix Systems presently has an average rating of “Hold” and a consensus price target of $160.20.
In other Citrix Systems news, EVP Sridhar Mullapudi sold 3,170 shares of Citrix Systems stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $140.80, for a total transaction of $446,336.00. Following the completion of the sale, the executive vice president now owns 24,660 shares of the company’s stock, valued at approximately $3,472,128. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Timothy A. Minahan sold 2,620 shares of Citrix Systems stock in a transaction dated Tuesday, March 30th. The stock was sold at an average price of $137.05, for a total value of $359,071.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,747 shares of company stock valued at $3,298,462. Corporate insiders own 0.61% of the company’s stock.
About Citrix Systems
Citrix Systems, Inc, an enterprise software company, provides workspace, app delivery and security, and professional services worldwide. The company offers workspace services, including Citrix Workspace; Citrix Virtual Apps and Desktops; Citrix Content Collaboration, a cloud-based file sharing and storage solution, which provides enterprise-class data services on various corporate and personal mobile devices for businesses; Citrix Endpoint Management for mobility and device management capabilities; Citrix Analytics for Security that assesses the behavior of Citrix Virtual Apps and Desktops, and Citrix Workspace users and applies actions to protect sensitive corporate information; Citrix Analytics for Performance that uses machine learning to quantify user experience; Citrix Secure Workspace Access, which provides an end-to-end solution to implement Zero Trust principles; and Citrix Secure Internet Access, which provides a solution that protects direct internet access for branch and remote workers using unsanctioned apps.
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