Franklin Resources Inc. trimmed its position in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 38.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,351,303 shares of the technology company’s stock after selling 1,488,578 shares during the period. Franklin Resources Inc. owned about 2.69% of NetScout Systems worth $71,597,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of NTCT. Stevens Capital Management LP bought a new position in NetScout Systems during the 3rd quarter valued at about $206,000. Suntrust Banks Inc. bought a new position in NetScout Systems during the 4th quarter valued at about $214,000. Jefferies Group LLC bought a new position in NetScout Systems during the 4th quarter valued at about $228,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in NetScout Systems by 170.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,591 shares of the technology company’s stock valued at $231,000 after purchasing an additional 4,788 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in NetScout Systems during the 3rd quarter valued at about $241,000.
In other news, insider John Downing sold 3,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $28.20, for a total transaction of $84,600.00. Following the transaction, the insider now directly owns 47,427 shares in the company, valued at $1,337,441.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.51% of the stock is currently owned by company insiders.
Shares of NASDAQ NTCT traded down $0.55 during midday trading on Friday, reaching $26.30. 697,798 shares of the company’s stock traded hands, compared to its average volume of 910,218. 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, Inc. has a one year low of $25.33 and a one year high of $38.47. The company has a market cap of $2,295.12, a PE ratio of 15.84, a P/E/G ratio of 2.41 and a beta of 1.53.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. NetScout Systems had a net margin of 7.95% and a return on equity of 5.34%. The firm had revenue of $272.00 million for the quarter, compared to the consensus estimate of $271.36 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was down 12.7% on a year-over-year basis. analysts forecast that NetScout Systems, Inc. will post 1.04 earnings per share for the current fiscal year.
NTCT has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. BidaskClub upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. DA Davidson downgraded shares of NetScout Systems from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $37.00 to $27.00 in a research note on Wednesday, January 10th. Craig Hallum set a $23.00 target price on shares of NetScout Systems and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Finally, Piper Jaffray set a $30.00 target price on shares of NetScout Systems and gave the stock a “buy” rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $28.50.
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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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