Municipal Employees Retirement System of Michigan lessened its holdings in NetScout Systems, Inc. (NASDAQ:NTCT) by 23.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,080 shares of the technology company’s stock after selling 8,320 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in NetScout Systems were worth $876,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of NTCT. Stevens Capital Management LP bought a new position in NetScout Systems in the 3rd quarter worth approximately $206,000. Bridge City Capital LLC boosted its holdings in NetScout Systems by 8.7% in the 3rd quarter. Bridge City Capital LLC now owns 64,458 shares of the technology company’s stock worth $2,085,000 after buying an additional 5,156 shares during the period. Crossmark Global Holdings Inc. bought a new position in NetScout Systems in the 3rd quarter worth approximately $241,000. Fort Pitt Capital Group LLC boosted its holdings in NetScout Systems by 3.7% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 1,161,808 shares of the technology company’s stock worth $37,584,000 after buying an additional 41,350 shares during the period. Finally, First Quadrant L P CA boosted its holdings in NetScout Systems by 629.0% in the 3rd quarter. First Quadrant L P CA now owns 106,335 shares of the technology company’s stock worth $3,440,000 after buying an additional 91,749 shares during the period.
NetScout Systems, Inc. (NTCT) opened at $30.25 on Wednesday. NetScout Systems, Inc. has a 12-month low of $27.65 and a 12-month high of $38.47. The stock has a market cap of $2,710.08, a PE ratio of 23.56, a P/E/G ratio of 1.86 and a beta of 1.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 1.60.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $256.90 million during the quarter, compared to analysts’ expectations of $251.13 million. NetScout Systems had a net margin of 1.52% and a return on equity of 5.15%. NetScout Systems’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. equities analysts anticipate that NetScout Systems, Inc. will post 1.59 earnings per share for the current year.
NetScout Systems declared that its Board of Directors has authorized a share buyback program on Thursday, October 26th that authorizes the company to buyback 25,000,000 shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In related news, insider Michael Szabados sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $28.19, for a total transaction of $140,950.00. Following the completion of the sale, the insider now directly owns 43,424 shares in the company, valued at $1,224,122.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Downing sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $28.17, for a total transaction of $84,510.00. Following the sale, the executive vice president now owns 88,821 shares of the company’s stock, valued at $2,502,087.57. The disclosure for this sale can be found here. 3.51% of the stock is currently owned by insiders.
Several analysts have issued reports on NTCT shares. Zacks Investment Research cut shares of NetScout Systems from a “buy” rating to a “sell” rating in a research note on Thursday, November 2nd. KeyCorp restated a “hold” rating on shares of NetScout Systems in a research report on Wednesday, October 11th. Piper Jaffray Companies initiated coverage on shares of NetScout Systems in a research report on Monday, November 13th. They set an “overweight” rating and a $34.00 price objective on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $35.00 target price on shares of NetScout Systems in a research report on Monday, September 4th. Finally, BidaskClub cut shares of NetScout Systems from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $33.20.
NetScout Systems Company Profile
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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