Brookside Capital Management Lowers stake in Citrix Systems (CTXS)

Citrix Systems (CTXS) : Brookside Capital Management reduced its stake in Citrix Systems by 10.46% during the most recent quarter end. The investment management company now holds a total of 1,674,273 shares of Citrix Systems which is valued at $145,929,635 after selling 195,549 shares in Citrix Systems , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Citrix Systems makes up approximately 5.54% of Brookside Capital Management’s portfolio.

Other Hedge Funds, Including , Everpoint Asset Management added CTXS to its portfolio by purchasing 40,000 company shares during the most recent quarter which is valued at $3,486,400. Citrix Systems makes up approx 0.09% of Everpoint Asset Management’s portfolio. Jupiter Asset Management Ltd added CTXS to its portfolio by purchasing 14,000 company shares during the most recent quarter which is valued at $1,220,240. Citrix Systems makes up approx 0.05% of Jupiter Asset Management Ltd’s portfolio.Btim Corp. boosted its stake in CTXS in the latest quarter, The investment management firm added 145 additional shares and now holds a total of 33,560 shares of Citrix Systems which is valued at $2,850,922. Citrix Systems makes up approx 0.05% of Btim Corp.’s portfolio.Tocqueville Asset Management reduced its stake in CTXS by selling 615 shares or 1.78% in the most recent quarter. The Hedge Fund company now holds 34,025 shares of CTXS which is valued at $3,032,648. Citrix Systems makes up approx 0.04% of Tocqueville Asset Management’s portfolio.Candriam Luxembourg S.c.a. boosted its stake in CTXS in the latest quarter, The investment management firm added 61,257 additional shares and now holds a total of 103,168 shares of Citrix Systems which is valued at $9,076,721. Citrix Systems makes up approx 0.23% of Candriam Luxembourg S.c.a.’s portfolio.

Citrix Systems opened for trading at $86.94 and hit $87.98 on the upside on Thursday, eventually ending the session at $87.28, with a gain of 0.09% or 0.08 points. The heightened volatility saw the trading volume jump to 11,24,185 shares. Company has a market cap of $13,592 M.

On the company’s financial health, Citrix Systems reported $1.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.92. The company had revenue of $826.00 million for the quarter, compared to analysts expectations of $787.97 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on Citrix Systems. Citrix Systems was Downgraded by Jefferies to ” Underperform” on Aug 1, 2016. Company shares were Reiterated by Deutsche Bank on Jul 27, 2016 to “Hold”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .Citrix Systems was Downgraded by Stifel to ” Hold” on Jul 27, 2016.

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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