Comerica Bank lessened its position in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 24.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,093 shares of the technology company’s stock after selling 14,732 shares during the period. Comerica Bank owned 0.06% of NetScout Systems worth $1,131,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of NetScout Systems by 0.7% during the 2nd quarter. BlackRock Inc. now owns 9,634,062 shares of the technology company’s stock valued at $286,131,000 after buying an additional 64,318 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in NetScout Systems by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,309,070 shares of the technology company’s stock worth $187,381,000 after purchasing an additional 614,013 shares in the last quarter. Fort Pitt Capital Group LLC lifted its holdings in NetScout Systems by 1.4% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 1,264,870 shares of the technology company’s stock worth $37,567,000 after purchasing an additional 17,775 shares in the last quarter. First Trust Advisors LP lifted its holdings in NetScout Systems by 18.8% during the 3rd quarter. First Trust Advisors LP now owns 963,444 shares of the technology company’s stock worth $24,327,000 after purchasing an additional 152,369 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in NetScout Systems by 17.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 842,800 shares of the technology company’s stock worth $25,031,000 after purchasing an additional 124,100 shares in the last quarter.
NTCT has been the topic of a number of recent research reports. BidaskClub raised NetScout Systems from a “sell” rating to a “hold” rating in a report on Saturday, October 27th. ValuEngine raised NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Craig Hallum set a $25.00 price objective on NetScout Systems and gave the stock a “hold” rating in a report on Thursday, November 1st. Zacks Investment Research raised NetScout Systems from a “sell” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a report on Saturday, October 13th. Finally, Piper Jaffray Companies set a $31.00 price objective on NetScout Systems and gave the stock a “buy” rating in a report on Monday, August 13th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $27.50.
Shares of NASDAQ NTCT opened at $25.74 on Friday. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.03 and a current ratio of 2.12. NetScout Systems, Inc. has a twelve month low of $21.58 and a twelve month high of $31.77.
NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, November 1st. The technology company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.21. The business had revenue of $224.00 million for the quarter, compared to analyst estimates of $218.30 million. NetScout Systems had a return on equity of 3.29% and a net margin of 1.88%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. Research analysts forecast that NetScout Systems, Inc. will post 0.85 EPS for the current fiscal year.
In other NetScout Systems news, Director Joseph G. Hadzima, Jr. sold 1,750 shares of the company’s stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $25.63, for a total value of $44,852.50. Following the transaction, the director now directly owns 117,298 shares in the company, valued at approximately $3,006,347.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Downing sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $27.87, for a total value of $83,610.00. Following the completion of the transaction, the insider now owns 96,925 shares in the company, valued at $2,701,299.75. The disclosure for this sale can be found here. Insiders sold a total of 12,500 shares of company stock worth $341,375 over the last 90 days. Corporate insiders own 3.93% of the company’s stock.
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NetScout Systems 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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