NetScout Systems (NASDAQ:NTCT) had its price objective lowered by equities researchers at Royal Bank of Canada to $27.00 in a research note issued to investors on Thursday, The Fly reports. The firm presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 2.78% from the stock’s current price.
A number of other brokerages have also issued reports on NTCT. Zacks Investment Research lowered NetScout Systems from a “buy” rating to a “sell” rating in a research note on Thursday, November 2nd. KeyCorp restated a “hold” rating on shares of NetScout Systems in a research report on Wednesday, October 11th. Piper Jaffray Companies initiated coverage on NetScout Systems in a research report on Monday, November 13th. They issued an “overweight” rating and a $34.00 price target for the company. BidaskClub downgraded shares of NetScout Systems from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Finally, Craig Hallum decreased their price objective on shares of NetScout Systems from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $29.67.
Shares of NetScout Systems (NASDAQ NTCT) traded down $4.13 during mid-day trading on Thursday, reaching $26.27. The company’s stock had a trading volume of 8,313,300 shares, compared to its average volume of 1,670,757. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 1.60. NetScout Systems has a 52-week low of $26.00 and a 52-week high of $38.47. The company has a market capitalization of $2,280.00, a price-to-earnings ratio of 145.94, a P/E/G ratio of 1.87 and a beta of 1.60.
NetScout Systems announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 26th that allows the company to buyback 25,000,000 shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In related news, insider Michael Szabados sold 5,000 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $28.19, for a total value of $140,950.00. Following the transaction, the insider now directly owns 43,424 shares of the company’s stock, valued at approximately $1,224,122.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Downing sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $28.17, for a total transaction of $84,510.00. Following the transaction, the executive vice president now directly owns 88,821 shares in the company, valued at $2,502,087.57. The disclosure for this sale can be found here. Corporate insiders own 3.51% of the company’s stock.
Several large investors have recently modified their holdings of the company. TrimTabs Asset Management acquired a new stake in NetScout Systems in the third quarter valued at $2,164,000. Creative Planning grew its position in shares of NetScout Systems by 3.8% during the fourth quarter. Creative Planning now owns 37,614 shares of the technology company’s stock worth $1,155,000 after acquiring an additional 1,360 shares during the last quarter. Fisher Asset Management grew its position in shares of NetScout Systems by 225.8% during the fourth quarter. Fisher Asset Management now owns 1,728,742 shares of the technology company’s stock worth $53,072,000 after acquiring an additional 1,198,158 shares during the last quarter. Dalton Greiner Hartman Maher & Company grew its position in shares of NetScout Systems by 31.7% during the fourth quarter. Dalton Greiner Hartman Maher & Company now owns 430,712 shares of the technology company’s stock worth $13,223,000 after acquiring an additional 103,757 shares during the last quarter. Finally, KAMES CAPITAL plc grew its position in shares of NetScout Systems by 109.3% during the fourth quarter. KAMES CAPITAL plc now owns 179,593 shares of the technology company’s stock worth $5,514,000 after acquiring an additional 93,780 shares during the last quarter.
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.
