Dynamic Technology Lab Private Ltd Takes $770,000 Position in NetScout Systems, Inc. (NASDAQ:NTCT)

Dynamic Technology Lab Private Ltd acquired a new stake in NetScout Systems, Inc. (NASDAQ:NTCT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,374 shares of the technology company’s stock, valued at approximately $770,000.

Several other institutional investors have also made changes to their positions in the company. Amalgamated Bank lifted its position in shares of NetScout Systems by 0.5% in the second quarter. Amalgamated Bank now owns 12,678 shares of the technology company’s stock valued at $436,000 after acquiring an additional 59 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of NetScout Systems by 1.2% in the first quarter. PNC Financial Services Group Inc. now owns 19,841 shares of the technology company’s stock worth $754,000 after purchasing an additional 226 shares during the last quarter. Bank of Montreal Can increased its stake in NetScout Systems by 8.9% during the second quarter. Bank of Montreal Can now owns 3,311 shares of the technology company’s stock worth $113,000 after acquiring an additional 271 shares during the last quarter. Capstone Asset Management Co. grew its stake in shares of NetScout Systems by 4.3% during the second quarter. Capstone Asset Management Co. now owns 6,786 shares of the technology company’s stock valued at $233,000 after buying an additional 280 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of NetScout Systems by 5.5% during the second quarter. Teacher Retirement System of Texas now owns 6,960 shares of the technology company’s stock valued at $239,000 after buying an additional 363 shares during the last quarter.

In other news, insider Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $34.60, for a total value of $173,000.00. Following the transaction, the insider now owns 39,170 shares of the company’s stock, valued at $1,355,282. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.51% of the company’s stock.

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Shares of NetScout Systems, Inc. (NTCT) traded down 2.21% on Friday, reaching $28.80. 450,993 shares of the company were exchanged. The stock has a 50 day moving average of $32.31 and a 200-day moving average of $34.33. The company has a market capitalization of $2.58 billion, a P/E ratio of 146.19 and a beta of 1.60. 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 quarterly earnings data on Thursday, October 26th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.03. The company had revenue of $256.90 million for the quarter, compared to analysts’ expectations of $251.13 million. NetScout Systems had a net margin of 1.60% and a return on equity of 5.53%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. On average, analysts predict that NetScout Systems, Inc. will post $2.01 EPS for the current fiscal year.

NetScout Systems announced that its Board of Directors has approved a share repurchase plan on Thursday, October 26th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

A number of research analysts have recently commented on the company. BidaskClub raised NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. B. Riley reiterated a “buy” rating and issued a $44.00 price target on shares of NetScout Systems in a report on Friday, July 28th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of NetScout Systems in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $35.50.

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.

Institutional Ownership by Quarter for NetScout Systems (NASDAQ:NTCT)

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