Ameriprise Financial Inc. Increases Stake in NetScout Systems, Inc. (NTCT)

Ameriprise Financial Inc. grew its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 490,017 shares of the technology company’s stock after buying an additional 22,275 shares during the period. Ameriprise Financial Inc. owned 0.55% of NetScout Systems worth $15,852,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NTCT. Vanguard Group Inc. raised its position in shares of NetScout Systems by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,226,097 shares of the technology company’s stock worth $248,578,000 after purchasing an additional 107,494 shares during the last quarter. Franklin Resources Inc. raised its position in NetScout Systems by 2.4% in the 2nd quarter. Franklin Resources Inc. now owns 4,038,347 shares of the technology company’s stock worth $138,918,000 after buying an additional 95,460 shares during the last quarter. Dimensional Fund Advisors LP raised its position in NetScout Systems by 25.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,941,213 shares of the technology company’s stock worth $135,580,000 after buying an additional 799,553 shares during the last quarter. Goldman Sachs Group Inc. raised its position in NetScout Systems by 59.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,517,277 shares of the technology company’s stock worth $120,994,000 after buying an additional 1,305,337 shares during the last quarter. Finally, State Street Corp raised its position in NetScout Systems by 4.0% in the 2nd quarter. State Street Corp now owns 3,036,287 shares of the technology company’s stock worth $104,446,000 after buying an additional 116,515 shares during the last quarter.

In other NetScout Systems news, EVP John Downing sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $28.17, for a total value of $84,510.00. Following the completion of the transaction, the executive vice president now directly owns 88,821 shares in the company, valued at approximately $2,502,087.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Szabados sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $28.19, for a total value of $140,950.00. Following the completion of the transaction, the insider now owns 43,424 shares of the company’s stock, valued at $1,224,122.56. The disclosure for this sale can be found here. Insiders own 3.51% of the company’s stock.

NetScout Systems, Inc. (NTCT) opened at $30.00 on Friday. The stock has a market capitalization of $2,605.51, a P/E ratio of 22.65, a P/E/G ratio of 1.79 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, Inc. has a 52 week low of $27.65 and a 52 week high of $38.47.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.03. The company had revenue of $256.90 million during the quarter, compared to the consensus estimate of $251.13 million. NetScout Systems had a return on equity of 5.15% and a net margin of 1.52%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. research analysts predict that NetScout Systems, Inc. will post 1.59 earnings per share for the current year.

NetScout Systems declared that its board has authorized a stock buyback program on Thursday, October 26th that allows the company to repurchase 25,000,000 shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

A number of equities analysts have weighed in on the company. Zacks Investment Research lowered NetScout Systems from a “buy” rating to a “sell” rating in a research report on Thursday, November 2nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $35.00 price target on shares of NetScout Systems in a research report on Tuesday, October 10th. B. Riley reaffirmed a “buy” rating and set a $36.00 price target on shares of NetScout Systems in a research report on Friday, October 27th. Craig Hallum reduced their price target on shares of NetScout Systems from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, October 26th. Finally, KeyCorp reaffirmed a “hold” rating on shares of NetScout Systems in a research report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. NetScout Systems has a consensus rating of “Hold” and a consensus target price of $33.20.

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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.

Institutional Ownership by Quarter for NetScout Systems (NASDAQ:NTCT)

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