Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,668 shares of the technology company’s stock, valued at approximately $644,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV increased its holdings in shares of NetScout Systems by 1,679.6% during the second quarter. KBC Group NV now owns 164,472 shares of the technology company’s stock valued at $4,885,000 after purchasing an additional 155,230 shares during the period. Rice Hall James & Associates LLC acquired a new position in NetScout Systems during the second quarter worth about $10,309,000. First Trust Advisors LP grew its holdings in NetScout Systems by 54.0% during the second quarter. First Trust Advisors LP now owns 811,075 shares of the technology company’s stock worth $24,089,000 after acquiring an additional 284,383 shares during the period. MUFG Securities EMEA plc acquired a new position in NetScout Systems during the second quarter worth about $7,425,000. Finally, Horrell Capital Management Inc. acquired a new position in NetScout Systems during the second quarter worth about $5,613,000.
A number of research analysts recently issued reports on the company. ValuEngine raised NetScout Systems from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. BidaskClub raised NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th. Piper Jaffray Companies set a $31.00 target price on NetScout Systems and gave the stock a “buy” rating in a report on Monday, August 13th. DA Davidson reaffirmed a “hold” rating on shares of NetScout Systems in a report on Monday, May 7th. Finally, Zacks Investment Research raised NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. NetScout Systems has a consensus rating of “Hold” and an average target price of $28.33.
In related news, insider Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $26.96, for a total value of $134,800.00. Following the transaction, the insider now owns 38,616 shares of the company’s stock, valued at approximately $1,041,087.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Downing sold 3,000 shares of NetScout Systems stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock worth $365,380 in the last three months. 3.93% of the stock is currently owned by company insiders.
NASDAQ:NTCT opened at $25.75 on Thursday. The stock has a market cap of $2.07 billion, a P/E ratio of 26.01, a PEG ratio of 2.94 and a beta of 1.36. NetScout Systems, Inc. has a 52-week low of $23.15 and a 52-week high of $33.90. The company has a current ratio of 2.00, a quick ratio of 1.90 and a debt-to-equity ratio of 0.29.
NetScout Systems (NASDAQ:NTCT) last released its earnings results on Thursday, July 26th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $205.11 million for the quarter, compared to analyst estimates of $210.47 million. NetScout Systems had a return on equity of 3.79% and a net margin of 4.28%. NetScout Systems’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share. sell-side analysts anticipate that NetScout Systems, Inc. will post 0.88 earnings per share for the current fiscal year.
NetScout Systems Company Profile
NetScout Systems, Inc provides real-time operational intelligence and performance analytics for digital business services against disruptions in availability, performance, and security in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.
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