Principal Financial Group Inc. raised its stake in NetScout Systems, Inc. (NASDAQ:NTCT) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 390,283 shares of the technology company’s stock after acquiring an additional 19,775 shares during the period. Principal Financial Group Inc. owned approximately 0.43% of NetScout Systems worth $13,425,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NTCT. BlackRock Inc. grew its stake in shares of NetScout Systems by 9,990.2% in the first quarter. BlackRock Inc. now owns 10,120,265 shares of the technology company’s stock worth $384,064,000 after acquiring an additional 10,019,967 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of NetScout Systems by 28.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,141,660 shares of the technology company’s stock worth $119,226,000 after acquiring an additional 693,589 shares during the last quarter. ValueAct Holdings L.P. grew its stake in shares of NetScout Systems by 39.8% in the first quarter. ValueAct Holdings L.P. now owns 2,300,000 shares of the technology company’s stock worth $87,285,000 after acquiring an additional 655,000 shares during the last quarter. Credit Suisse AG grew its stake in shares of NetScout Systems by 666.0% in the first quarter. Credit Suisse AG now owns 694,890 shares of the technology company’s stock worth $26,371,000 after acquiring an additional 604,179 shares during the last quarter. Finally, P2 Capital Partners LLC grew its stake in shares of NetScout Systems by 29.3% in the first quarter. P2 Capital Partners LLC now owns 2,528,064 shares of the technology company’s stock worth $95,940,000 after acquiring an additional 573,256 shares during the last quarter.
A number of equities research analysts have recently commented on NTCT shares. BidaskClub raised NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Royal Bank Of Canada reissued a “hold” rating on shares of NetScout Systems in a research note on Thursday, July 20th. Finally, B. Riley reissued a “buy” rating and issued a $44.00 target price on shares of NetScout Systems in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.33.
Shares of NetScout Systems, Inc. (NASDAQ:NTCT) opened at 32.45 on Thursday. The stock has a 50 day moving average price of $32.98 and a 200-day moving average price of $35.28. The stock has a market capitalization of $2.91 billion, a PE ratio of 164.72 and a beta of 1.62. NetScout Systems, Inc. has a 1-year low of $26.25 and a 1-year high of $38.47.
NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.08. NetScout Systems had a return on equity of 5.53% and a net margin of 1.60%. The business had revenue of $225.80 million for the quarter, compared to the consensus estimate of $225.66 million. During the same period last year, the business posted $0.28 EPS. The business’s revenue was down 16.1% compared to the same quarter last year. On average, analysts forecast that NetScout Systems, Inc. will post $2.06 earnings per share for the current year.
In other news, insider Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $34.60, for a total value of $173,000.00. Following the transaction, the insider now directly owns 39,170 shares in the company, valued at approximately $1,355,282. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.51% of the company’s stock.
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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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