B. Riley Financial Inc. reduced its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 7.7% during the 4th quarter, Holdings Channel reports. The fund owned 35,243 shares of the technology company’s stock after selling 2,953 shares during the period. B. Riley Financial Inc.’s holdings in NetScout Systems were worth $1,073,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of NTCT. Turtle Creek Asset Management Inc. increased its stake in NetScout Systems by 59.7% during the third quarter. Turtle Creek Asset Management Inc. now owns 3,073,380 shares of the technology company’s stock worth $99,424,000 after acquiring an additional 1,148,671 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in NetScout Systems by 8.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,256,839 shares of the technology company’s stock worth $137,710,000 after acquiring an additional 315,626 shares during the last quarter. First Trust Advisors LP increased its stake in NetScout Systems by 47.1% during the fourth quarter. First Trust Advisors LP now owns 543,980 shares of the technology company’s stock worth $16,564,000 after acquiring an additional 174,147 shares during the last quarter. Royce & Associates LP increased its stake in NetScout Systems by 47.3% during the fourth quarter. Royce & Associates LP now owns 379,671 shares of the technology company’s stock worth $11,561,000 after acquiring an additional 121,971 shares during the last quarter. Finally, State Street Corp increased its stake in NetScout Systems by 4.0% during the second quarter. State Street Corp now owns 3,036,287 shares of the technology company’s stock worth $104,446,000 after acquiring an additional 116,515 shares during the last quarter.
Several equities research analysts have weighed in on NTCT shares. Zacks Investment Research raised NetScout Systems from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Thursday, October 26th. Craig Hallum reduced their price objective on NetScout Systems from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, October 26th. B. Riley reissued a “buy” rating and set a $36.00 price objective on shares of NetScout Systems in a research note on Friday, October 27th. Royal Bank of Canada reissued a “hold” rating and set a $33.00 price objective on shares of NetScout Systems in a research note on Friday, October 27th. Finally, Piper Jaffray Companies started coverage on NetScout Systems in a research note on Monday, November 13th. They set an “overweight” rating and a $34.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $29.00.
In other news, insider John Downing sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $28.20, for a total transaction of $84,600.00. Following the transaction, the insider now owns 47,427 shares of the company’s stock, valued at $1,337,441.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.51% of the company’s stock.
NetScout Systems, Inc. (NASDAQ:NTCT) opened at $26.65 on Thursday. The company has a market capitalization of $2,378.03, a P/E ratio of 27.76, a PEG ratio of 2.61 and a beta of 1.52. NetScout Systems, Inc. has a 52 week low of $25.50 and a 52 week high of $38.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.61 and a current ratio of 1.70.
NetScout Systems (NASDAQ:NTCT) last released its earnings results on Tuesday, January 30th. The technology company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $272.00 million for the quarter, compared to analysts’ expectations of $271.36 million. NetScout Systems had a return on equity of 5.34% and a net margin of 7.95%. The company’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. sell-side analysts forecast that NetScout Systems, Inc. will post 1.04 EPS for the current year.
NetScout Systems declared that its board has approved a share repurchase plan on Thursday, October 26th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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About NetScout Systems
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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