NetScout Systems, Inc. (NASDAQ:NTCT) saw a large decrease in short interest during the month of September. As of September 28th, there was short interest totalling 7,595,988 shares, a decrease of 23.7% from the September 14th total of 9,956,052 shares. Currently, 9.8% of the shares of the stock are short sold. Based on an average trading volume of 1,023,462 shares, the days-to-cover ratio is currently 7.4 days.
In other NetScout Systems news, insider John Downing sold 3,000 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Szabados sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $26.96, for a total transaction of $134,800.00. Following the sale, the insider now directly owns 38,616 shares of the company’s stock, valued at $1,041,087.36. The disclosure for this sale can be found here. Insiders sold a total of 40,466 shares of company stock valued at $1,021,472 over the last three months. 3.93% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of NTCT. Dimensional Fund Advisors LP increased its holdings in shares of NetScout Systems by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,309,070 shares of the technology company’s stock valued at $187,381,000 after purchasing an additional 614,013 shares during the period. Millennium Management LLC increased its holdings in shares of NetScout Systems by 1,633.8% in the 1st quarter. Millennium Management LLC now owns 580,175 shares of the technology company’s stock valued at $15,288,000 after purchasing an additional 546,712 shares during the period. Rice Hall James & Associates LLC acquired a new position in shares of NetScout Systems in the 2nd quarter valued at about $10,309,000. BlackRock Inc. increased its holdings in shares of NetScout Systems by 3.2% in the 1st quarter. BlackRock Inc. now owns 9,569,744 shares of the technology company’s stock valued at $252,163,000 after purchasing an additional 295,793 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of NetScout Systems by 54.0% in the 2nd quarter. First Trust Advisors LP now owns 811,075 shares of the technology company’s stock valued at $24,089,000 after purchasing an additional 284,383 shares during the period.
A number of analysts have commented on NTCT shares. BidaskClub lowered shares of NetScout Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 18th. Zacks Investment Research lowered shares of NetScout Systems from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. ValuEngine lowered shares of NetScout Systems from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. Finally, Piper Jaffray Companies set a $31.00 price objective on shares of NetScout Systems and gave the company a “buy” rating in a research note on Monday, August 13th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $28.33.
NTCT stock opened at $21.99 on Friday. The company has a quick ratio of 1.90, a current ratio of 2.00 and a debt-to-equity ratio of 0.29. NetScout Systems has a one year low of $21.58 and a one year high of $33.50. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 2.86 and a beta of 1.30.
NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings data on Thursday, July 26th. The technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. NetScout Systems had a net margin of 4.28% and a return on equity of 3.79%. The company had revenue of $205.11 million during the quarter, compared to analyst estimates of $210.47 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The business’s quarterly revenue was down 9.2% on a year-over-year basis. Sell-side analysts predict that NetScout Systems will post 0.88 EPS for the current year.
NetScout Systems Company Profile
NetScout Systems, Inc engages in the provision of application and network performance management solutions. Its integrated hardware and software solutions are used by commercial enterprises, governmental agencies, and telecommunication service providers. The company was founded by Anil K. Singhal and Narendra Popat in June 1984 and is headquartered in Westford, MA.
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