Wedge Capital Management L L P NC acquired a new stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) during the second quarter, according to its most recent filing with the SEC. The fund acquired 9,103 shares of the technology company’s stock, valued at approximately $231,000.
Several other large investors also recently added to or reduced their stakes in the stock. Huntington National Bank grew its position in NetScout Systems by 1,101.7% during the second quarter. Huntington National Bank now owns 1,418 shares of the technology company’s stock worth $36,000 after buying an additional 1,300 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of NetScout Systems in the 1st quarter worth about $96,000. Noesis Capital Mangement Corp purchased a new position in shares of NetScout Systems in the 1st quarter worth about $200,000. Pillar Pacific Capital Management LLC purchased a new position in shares of NetScout Systems in the 1st quarter worth about $202,000. Finally, Stephens Inc. AR boosted its holdings in shares of NetScout Systems by 20.0% in the 1st quarter. Stephens Inc. AR now owns 11,918 shares of the technology company’s stock worth $335,000 after purchasing an additional 1,989 shares in the last quarter. Institutional investors own 98.49% of the company’s stock.
In other news, COO Michael Szabados sold 6,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $22.42, for a total value of $134,520.00. Following the completion of the sale, the chief operating officer now owns 61,093 shares of the company’s stock, valued at approximately $1,369,705.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Downing sold 3,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $22.03, for a total value of $66,090.00. Following the completion of the sale, the executive vice president now directly owns 105,854 shares of the company’s stock, valued at approximately $2,331,963.62. The disclosure for this sale can be found here. Insiders own 4.06% of the company’s stock.
Shares of NTCT traded down $0.02 during midday trading on Tuesday, reaching $22.04. The stock had a trading volume of 2,710 shares, compared to its average volume of 514,173. The company’s 50-day moving average is $24.69 and its 200 day moving average is $26.42. NetScout Systems, Inc. has a 12-month low of $21.19 and a 12-month high of $30.30. The company has a current ratio of 1.93, a quick ratio of 1.86 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.33.
NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. NetScout Systems had a positive return on equity of 3.35% and a negative net margin of 4.51%. The firm had revenue of $186.10 million during the quarter, compared to analysts’ expectations of $196.98 million. During the same period in the prior year, the business earned $0.03 EPS. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. Research analysts forecast that NetScout Systems, Inc. will post 0.93 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on the company. ValuEngine cut NetScout Systems from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, BidaskClub cut NetScout Systems from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. NetScout Systems presently has a consensus rating of “Hold” and an average target price of $29.00.
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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