Sterling Capital Management LLC cut its holdings in NetScout Systems, Inc. (NASDAQ:NTCT) by 18.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 518,700 shares of the technology company’s stock after selling 115,150 shares during the quarter. Sterling Capital Management LLC owned about 0.58% of NetScout Systems worth $17,843,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of NTCT. UBS Asset Management Americas Inc. grew its position in shares of NetScout Systems by 55.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 50,587 shares of the technology company’s stock valued at $1,920,000 after purchasing an additional 18,133 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of NetScout Systems by 25.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 102,183 shares of the technology company’s stock valued at $3,878,000 after purchasing an additional 20,478 shares during the period. Credit Agricole S A acquired a new position in shares of NetScout Systems in the 1st quarter valued at approximately $246,000. OppenheimerFunds Inc. grew its position in shares of NetScout Systems by 25.3% in the 1st quarter. OppenheimerFunds Inc. now owns 8,945 shares of the technology company’s stock valued at $340,000 after purchasing an additional 1,808 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of NetScout Systems by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 370,508 shares of the technology company’s stock valued at $14,061,000 after purchasing an additional 8,852 shares during the period.
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Several brokerages recently issued reports on NTCT. 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. BidaskClub upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “hold” rating on shares of NetScout Systems in a research report on Thursday, July 20th. Finally, Zacks Investment Research lowered NetScout Systems from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $39.50.
NetScout Systems, Inc. (NTCT) traded up 0.15% during trading on Friday, reaching $33.40. The company’s stock had a trading volume of 101,770 shares. The stock has a market cap of $2.99 billion, a PE ratio of 169.54 and a beta of 1.60. The company’s 50-day moving average is $32.64 and its 200-day moving average is $34.76. NetScout Systems, Inc. has a 12 month low of $26.25 and a 12 month high of $38.47.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $0.08 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. The firm had revenue of $225.80 million during the quarter, compared to the consensus estimate of $225.66 million. NetScout Systems had a return on equity of 5.53% and a net margin of 1.60%. The company’s quarterly revenue was down 16.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. Equities analysts expect that NetScout Systems, Inc. will post $2.06 EPS for the current fiscal year.
In other news, insider Michael Szabados sold 5,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 39,170 shares in the company, valued at $1,355,282. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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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