PNC Financial Services Group Inc. cut its stake in NetScout Systems, Inc. (NASDAQ:NTCT) by 19.8% in the first quarter, HoldingsChannel reports. The firm owned 13,948 shares of the technology company’s stock after selling 3,434 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NetScout Systems were worth $368,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in NetScout Systems by 9.5% in the first quarter. Dimensional Fund Advisors LP now owns 5,695,057 shares of the technology company’s stock valued at $150,065,000 after acquiring an additional 494,861 shares during the last quarter. BlackRock Inc. lifted its holdings in NetScout Systems by 3.2% in the first quarter. BlackRock Inc. now owns 9,569,744 shares of the technology company’s stock valued at $252,163,000 after acquiring an additional 295,793 shares during the last quarter. First Trust Advisors LP lifted its holdings in NetScout Systems by 47.1% in the fourth quarter. First Trust Advisors LP now owns 543,980 shares of the technology company’s stock valued at $16,564,000 after acquiring an additional 174,147 shares during the last quarter. Engineers Gate Manager LP acquired a new position in NetScout Systems in the first quarter valued at approximately $3,561,000. Finally, Geode Capital Management LLC lifted its holdings in NetScout Systems by 16.3% in the fourth quarter. Geode Capital Management LLC now owns 937,973 shares of the technology company’s stock valued at $28,560,000 after acquiring an additional 131,198 shares during the last quarter.
In other NetScout Systems news, insider Jean A. Bua sold 5,000 shares of the company’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $27.22, for a total transaction of $136,100.00. Following the transaction, the insider now directly owns 57,602 shares in the company, valued at $1,567,926.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.51% of the stock is owned by corporate insiders.
NetScout Systems opened at $29.60 on Tuesday, Marketbeat reports. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.74 and a current ratio of 1.82. NetScout Systems, Inc. has a 52 week low of $23.15 and a 52 week high of $36.80. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 3.24 and a beta of 1.52.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results on Thursday, May 3rd. The technology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. NetScout Systems had a return on equity of 4.07% and a net margin of 8.06%. The company had revenue of $238.50 million for the quarter, compared to analysts’ expectations of $254.42 million. During the same period in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue was down 25.2% compared to the same quarter last year. analysts anticipate that NetScout Systems, Inc. will post 0.93 EPS for the current fiscal year.
A number of research analysts recently commented on the company. BidaskClub upgraded NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th. ValuEngine upgraded NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th. DA Davidson reiterated a “hold” rating on shares of NetScout Systems in a report on Monday, May 7th. Finally, Zacks Investment Research cut NetScout Systems from a “hold” rating to a “strong sell” rating in a report on Friday, May 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $28.50.
About NetScout Systems
NetScout Systems, Inc provides real-time operational intelligence and performance analytics for service assurance, and cybersecurity solutions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and WiFi networks, as well as gain timely insight into services, applications, and systems.
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