NetScout Systems (NASDAQ:NTCT) was downgraded by equities researchers at DA Davidson from a “buy” rating to a “neutral” rating in a report issued on Wednesday. They presently have a $27.00 price objective on the technology company’s stock. DA Davidson’s target price suggests a potential upside of 1.03% from the company’s current price.
Several other research analysts have also recently issued reports on the company. BidaskClub cut NetScout Systems from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research raised NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Piper Jaffray Companies began coverage on NetScout Systems in a research report on Monday, November 13th. They set an “overweight” rating and a $34.00 price objective for the company. Royal Bank of Canada reissued a “hold” rating and issued a $33.00 target price on shares of NetScout Systems in a report on Friday, October 27th. Finally, B. Riley reissued a “buy” rating and issued a $36.00 target price on shares of NetScout Systems in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. NetScout Systems has a consensus rating of “Hold” and a consensus target price of $32.17.
NetScout Systems (NTCT) traded down $3.67 during trading hours on Wednesday, hitting $26.73. The stock had a trading volume of 2,830,392 shares, compared to its average volume of 563,667. The firm has a market cap of $2,650.00, a PE ratio of 148.47, a P/E/G ratio of 1.87 and a beta of 1.60. NetScout Systems has a twelve month low of $27.65 and a twelve month high of $38.47. The company has a current ratio of 1.60, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14.
NetScout Systems announced that its board has authorized a stock buyback plan on Thursday, October 26th that permits the company to repurchase 25,000,000 shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
In other news, EVP John Downing sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $28.17, for a total value of $84,510.00. Following the completion of the sale, the executive vice president now directly owns 88,821 shares of the company’s stock, valued at approximately $2,502,087.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Szabados sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $28.19, for a total value of $140,950.00. Following the completion of the sale, the insider now directly owns 43,424 shares of the company’s stock, valued at $1,224,122.56. The disclosure for this sale can be found here. 3.51% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. AXA raised its stake in NetScout Systems by 14.0% during the 3rd quarter. AXA now owns 281,300 shares of the technology company’s stock valued at $9,100,000 after acquiring an additional 34,500 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in NetScout Systems by 17.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 19,924 shares of the technology company’s stock valued at $645,000 after acquiring an additional 2,939 shares during the last quarter. Turtle Creek Asset Management Inc. raised its stake in NetScout Systems by 59.7% during the 3rd quarter. Turtle Creek Asset Management Inc. now owns 3,073,380 shares of the technology company’s stock valued at $99,424,000 after acquiring an additional 1,148,671 shares during the last quarter. Royce & Associates LP raised its stake in NetScout Systems by 25.3% during the 3rd quarter. Royce & Associates LP now owns 257,700 shares of the technology company’s stock valued at $8,337,000 after acquiring an additional 52,100 shares during the last quarter. Finally, B. Riley Financial Inc. raised its stake in NetScout Systems by 118.2% during the 3rd quarter. B. Riley Financial Inc. now owns 38,196 shares of the technology company’s stock valued at $1,244,000 after acquiring an additional 20,693 shares during the last quarter.
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NetScout Systems Company Profile
NetScout Systems, Inc (NetScout) provides operational intelligence and performance analytics for service assurance and cyber security solutions. The Company’s solutions are used in various service provider, enterprise and government networks. Its nGenius and Infinistream technologies, along with certain product lines from the acquired businesses, enable information technology (IT) organizations to manage service delivery quality, and identify and address business service performance issues and security threats.
