Retirement Systems of Alabama cut its stake in NetScout Systems, Inc. (NASDAQ:NTCT) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 430,790 shares of the technology company’s stock after selling 25,213 shares during the quarter. Retirement Systems of Alabama owned approximately 0.48% of NetScout Systems worth $13,936,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Seven Bridges Advisors LLC bought a new position in shares of NetScout Systems in the second quarter valued at about $109,000. Bank of Montreal Can raised its position in shares of NetScout Systems by 8.9% in the second quarter. Bank of Montreal Can now owns 3,311 shares of the technology company’s stock valued at $113,000 after purchasing an additional 271 shares during the period. Flinton Capital Management LLC raised its position in shares of NetScout Systems by 74.5% in the second quarter. Flinton Capital Management LLC now owns 4,608 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,968 shares during the period. Riverhead Capital Management LLC raised its position in shares of NetScout Systems by 77.9% in the second quarter. Riverhead Capital Management LLC now owns 5,158 shares of the technology company’s stock valued at $177,000 after purchasing an additional 2,258 shares during the period. Finally, Tudor Investment Corp ET AL bought a new position in shares of NetScout Systems in the first quarter valued at about $220,000.
Shares of NetScout Systems, Inc. (NASDAQ:NTCT) opened at $29.10 on Thursday. NetScout Systems, Inc. has a one year low of $27.65 and a one year high of $38.47. The company has a quick ratio of 1.51, a current ratio of 1.60 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2,487.87, a P/E ratio of 21.63, a PEG ratio of 1.71 and a beta of 1.57.
NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. NetScout Systems had a net margin of 1.52% and a return on equity of 5.15%. The company had revenue of $256.90 million for the quarter, compared to the consensus estimate of $251.13 million. During the same period last year, the company posted $0.39 EPS. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. sell-side analysts anticipate that NetScout Systems, Inc. will post 1.59 earnings per share for the current year.
NetScout Systems announced that its board has approved a stock repurchase program on Thursday, October 26th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $28.19, for a total transaction of $140,950.00. Following the sale, the insider now directly owns 43,424 shares in the company, valued at approximately $1,224,122.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John Downing sold 3,000 shares of NetScout Systems stock in a transaction that occurred 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 sale, the executive vice president now owns 88,821 shares in the company, valued at $2,502,087.57. The disclosure for this sale can be found here. 3.51% of the stock is owned by company insiders.
Several brokerages have recently weighed in on NTCT. B. Riley reissued a “buy” rating and issued a $44.00 price objective on shares of NetScout Systems in a research report on Friday, July 28th. Piper Jaffray Companies began coverage on shares of NetScout Systems in a research report on Monday. They issued an “overweight” rating and a $34.00 price objective on the stock. BidaskClub lowered shares of NetScout Systems from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. KeyCorp reissued a “hold” rating on shares of NetScout Systems in a research report on Wednesday, October 11th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $33.00 price objective on shares of NetScout Systems in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. NetScout Systems presently has a consensus rating of “Hold” and a consensus price target of $33.20.
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NetScout Systems 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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