NetScout Systems (NASDAQ:NTCT) posted its earnings results on Thursday. The technology company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.21, MarketWatch Earnings reports. NetScout Systems had a net margin of 4.28% and a return on equity of 3.79%. The firm had revenue of $224.00 million during the quarter, compared to the consensus estimate of $218.30 million. During the same period last year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. NetScout Systems updated its FY 2019 guidance to $1.30-1.40 EPS and its FY19 guidance to $1.30-$1.40 EPS.
Shares of NetScout Systems stock traded up $0.41 during mid-day trading on Friday, hitting $29.05. 11,570 shares of the stock were exchanged, compared to its average volume of 851,006. NetScout Systems has a twelve month low of $21.58 and a twelve month high of $31.95. The stock has a market capitalization of $2.01 billion, a P/E ratio of 29.31, a P/E/G ratio of 2.78 and a beta of 1.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.00 and a quick ratio of 1.90.
In other NetScout Systems news, insider John Downing sold 3,000 shares of the firm’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 legal filing with the SEC, which can be accessed through this link. Also, Director Vincent J. Mullarkey sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $25.43, for a total transaction of $152,580.00. Following the sale, the director now directly owns 36,613 shares in the company, valued at $931,068.59. The disclosure for this sale can be found here. Insiders have sold a total of 35,466 shares of company stock worth $886,672 over the last ninety days. 3.93% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP boosted its stake in shares of NetScout Systems by 6.8% during the 3rd quarter. Engineers Gate Manager LP now owns 71,699 shares of the technology company’s stock worth $1,810,000 after purchasing an additional 4,557 shares during the last quarter. US Bancorp DE boosted its position in shares of NetScout Systems by 175.5% in the third quarter. US Bancorp DE now owns 14,536 shares of the technology company’s stock worth $367,000 after acquiring an additional 9,260 shares during the last quarter. OLD National Bancorp IN acquired a new stake in shares of NetScout Systems in the third quarter worth approximately $365,000. Russell Investments Group Ltd. boosted its position in shares of NetScout Systems by 44.5% in the third quarter. Russell Investments Group Ltd. now owns 330,482 shares of the technology company’s stock worth $8,345,000 after acquiring an additional 101,797 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of NetScout Systems by 18.8% in the third quarter. First Trust Advisors LP now owns 963,444 shares of the technology company’s stock worth $24,327,000 after acquiring an additional 152,369 shares during the last quarter.
Several research firms have weighed in on NTCT. ValuEngine upgraded shares of NetScout Systems from a “hold” rating to a “buy” rating in a report on Thursday. Craig Hallum set a $25.00 target price on shares of NetScout Systems and gave the company a “hold” rating in a report on Thursday. Zacks Investment Research upgraded shares of NetScout Systems from a “sell” rating to a “strong-buy” rating and set a $25.00 target price for the company in a report on Saturday, October 13th. BidaskClub downgraded shares of NetScout Systems from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Finally, Piper Jaffray Companies set a $31.00 target price on shares of NetScout Systems and gave the company a “buy” rating in a report on Monday, August 13th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.50.
NetScout Systems Company Profile
NetScout Systems, Inc provides real-time operational intelligence and performance analytics for digital business services against disruptions in availability, performance, and security 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 Wi-Fi networks.
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