Eagle Asset Management Inc. grew its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 87,870 shares of the technology company’s stock after purchasing an additional 3,268 shares during the period. Eagle Asset Management Inc. owned approximately 0.10% of NetScout Systems worth $3,022,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. boosted its position in shares of NetScout Systems by 419,060.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 20,958 shares of the technology company’s stock worth $721,000 after purchasing an additional 20,953 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of NetScout Systems by 5.3% in the 2nd quarter. Principal Financial Group Inc. now owns 390,283 shares of the technology company’s stock worth $13,425,000 after buying an additional 19,775 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of NetScout Systems by 12.1% in the 2nd quarter. Pacer Advisors Inc. now owns 10,912 shares of the technology company’s stock worth $375,000 after buying an additional 1,176 shares in the last quarter. Airain ltd purchased a new stake in shares of NetScout Systems in the 2nd quarter worth about $1,239,000. Finally, Prudential Financial Inc. boosted its position in shares of NetScout Systems by 53.1% in the 2nd quarter. Prudential Financial Inc. now owns 93,036 shares of the technology company’s stock worth $3,201,000 after buying an additional 32,270 shares in the last quarter.
Shares of NetScout Systems, Inc. (NASDAQ NTCT) opened at 31.90 on Friday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 161.93 and a beta of 1.62. The company has a 50 day moving average of $33.28 and a 200 day moving average of $35.55. NetScout Systems, Inc. has a 52-week low of $26.25 and a 52-week high of $38.48.
NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. NetScout Systems had a return on equity of 5.53% and a net margin of 1.60%. The business had revenue of $225.80 million during the quarter, compared to analysts’ expectations of $225.66 million. During the same quarter last year, the business posted $0.28 earnings per share. The company’s quarterly revenue was down 16.1% on a year-over-year basis. Analysts predict that NetScout Systems, Inc. will post $2.06 EPS for the current fiscal year.
Several equities research analysts recently commented on NTCT shares. BidaskClub upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada reiterated a “hold” rating on shares of NetScout Systems in a research report on Thursday, July 20th. Finally, B. Riley reiterated a “buy” rating and issued a $44.00 price objective on shares of NetScout Systems in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. NetScout Systems presently has an average rating of “Hold” and a consensus price target of $40.33.
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In related news, insider Michael Szabados sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $34.60, for a total transaction of $173,000.00. Following the completion of the transaction, the insider now owns 39,170 shares of the company’s stock, valued at $1,355,282. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.51% of the company’s stock.
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.
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