Wells Fargo & Company MN lowered its stake in NetScout Systems, Inc. (NASDAQ:NTCT) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,846 shares of the technology company’s stock after selling 12,148 shares during the quarter. Wells Fargo & Company MN owned about 0.13% of NetScout Systems worth $3,528,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of NTCT. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NetScout Systems by 170.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,591 shares of the technology company’s stock worth $231,000 after buying an additional 4,788 shares during the period. CHICAGO TRUST Co NA bought a new position in shares of NetScout Systems in the fourth quarter worth about $283,000. Crossmark Global Holdings Inc. raised its stake in shares of NetScout Systems by 37.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 10,252 shares of the technology company’s stock worth $312,000 after buying an additional 2,816 shares during the period. ING Groep NV raised its stake in shares of NetScout Systems by 19.9% in the fourth quarter. ING Groep NV now owns 13,149 shares of the technology company’s stock worth $400,000 after buying an additional 2,183 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in shares of NetScout Systems by 17.3% in the third quarter. Cubist Systematic Strategies LLC now owns 19,924 shares of the technology company’s stock worth $645,000 after buying an additional 2,939 shares during the period.
NTCT has been the topic of several recent research reports. Piper Jaffray set a $30.00 price objective on NetScout Systems and gave the stock a “buy” rating in a research note on Thursday, January 11th. B. Riley raised their price objective on NetScout Systems from $28.50 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Royal Bank of Canada reaffirmed a “hold” rating on shares of NetScout Systems in a research note on Tuesday, January 30th. BidaskClub raised NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Zacks Investment Research raised NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $28.50.
NASDAQ:NTCT opened at $26.30 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.70 and a quick ratio of 1.61. NetScout Systems, Inc. has a 12-month low of $25.33 and a 12-month high of $38.47. The stock has a market cap of $2,308.22, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 2.42 and a beta of 1.53.
NetScout Systems (NASDAQ:NTCT) last released its earnings results on Tuesday, January 30th. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. NetScout Systems had a return on equity of 5.34% and a net margin of 7.95%. The firm had revenue of $272.00 million during the quarter, compared to analysts’ expectations of $271.36 million. During the same quarter last year, the business posted $0.60 earnings per share. The firm’s revenue was down 12.7% on a year-over-year basis. research analysts anticipate that NetScout Systems, Inc. will post 1.04 EPS for the current year.
In related news, insider John Downing sold 3,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $28.20, for a total transaction of $84,600.00. Following the completion of the sale, the insider now owns 47,427 shares in the company, valued at $1,337,441.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.51% of the company’s stock.
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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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