Bank of America Downgrades Citrix Systems to Neutral

Brokerage firm Bank of America Downgrades its rating on Citrix Systems(CTXS). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by the stock financial advisor at Bank of America was issued on Mar 15, 2017 in a research report to their Investors and Clients.

In a different note, Wells Fargo said it Initiates Coverage On Citrix Systems, according to a research note issued on Jan 11, 2017. The shares have been rated ‘Market Perform’ by the firm.

Citrix Systems (CTXS) made into the market gainers list on Fridays trading session with the shares advancing 0.18% or 0.15 points. Due to strong positive momentum, the stock ended at $82.72, which is also near the day’s high of $83.07. The stock began the session at $83.03 and the volume stood at 24,12,131 shares. The 52-week high of the shares is $87.99 and the 52 week low is $60.155668. The company has a current market capitalization of $12,933 M and it has 15,63,52,410 shares in outstanding.

Citrix Systems(CTXS) last announced its earnings results on Jan 25, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $908.356M. Analysts had an estimated revenue of $900.970M. Earnings per share were $1.61. Analysts had estimated an EPS of $1.5.

Several Insider Transactions has been reported to the SEC. On Mar 14, 2017, Timothy A. Minahan (CMO) sold 14,886 shares at $82.00 per share price.Also, 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.

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.

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