NetScout Systems Inc. (NTCT) Stock Price Down 2.3%
NetScout Systems Inc. (NASDAQ:NTCT) shares traded down 2.3% during mid-day trading on Tuesday . The company traded as low as $28.46 and last traded at $28.55, with a volume of 219,790 shares traded. The stock had previously closed at $29.21.
A number of research analysts recently issued reports on the company. Pacific Crest restated a “buy” rating on shares of NetScout Systems in a research note on Monday, September 12th. B. Riley restated a “buy” rating and set a $34.00 price target on shares of NetScout Systems in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. NetScout Systems has an average rating of “Hold” and a consensus target price of $31.25.
The firm’s 50-day moving average is $28.84 and its 200 day moving average is $24.53. The company’s market cap is $2.62 billion.
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NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The company had revenue of $269 million for the quarter, compared to analysts’ expectations of $273.47 million. NetScout Systems had a positive return on equity of 5.80% and a negative net margin of 4.01%. The firm’s quarterly revenue was up 167.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Analysts predict that NetScout Systems Inc. will post $1.93 earnings per share for the current fiscal year.
In related news, COO Michael Szabados sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $27.64, for a total value of $138,200.00. Following the transaction, the chief operating officer now owns 35,526 shares in the company, valued at $981,938.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John Downing sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $27.48, for a total value of $27,480.00. Following the completion of the transaction, the executive vice president now owns 100,989 shares in the company, valued at approximately $2,775,177.72. The disclosure for this sale can be found here. 3.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. boosted its position in NetScout Systems by 219.8% in the second quarter. Sei Investments Co. now owns 5,587 shares of the company’s stock valued at $124,000 after buying an additional 3,840 shares during the period. LS Investment Advisors LLC boosted its position in NetScout Systems by 64.8% in the second quarter. LS Investment Advisors LLC now owns 5,637 shares of the company’s stock valued at $125,000 after buying an additional 2,216 shares during the period. Tower Research Capital LLC TRC acquired a new position in NetScout Systems during the second quarter valued at approximately $141,000. Princeton Alpha Management LP acquired a new position in NetScout Systems during the second quarter valued at approximately $206,000. Finally, Strs Ohio boosted its position in NetScout Systems by 44.6% in the second quarter. Strs Ohio now owns 9,400 shares of the company’s stock valued at $209,000 after buying an additional 2,900 shares during the period. Institutional investors and hedge funds own 98.12% of the company’s stock.
About NetScout Systems
NetScout Systems, Inc is a provider of network, application and service assurance solutions. The Company provides performance analytics that help enterprise, government and service provider customers manage service delivery and identify emerging performance problems. The Company designs, develops, manufactures, markets, licenses, sells and supports the products in hardware and software solutions that are used by commercial enterprises, governmental agencies and telecommunication service providers.
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