Retirement Systems of Alabama reduced its position in NetScout Systems, Inc. (NASDAQ:NTCT) by 8.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 392,939 shares of the technology company’s stock after selling 37,851 shares during the period. Retirement Systems of Alabama’s holdings in NetScout Systems were worth $11,965,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Stevens Capital Management LP purchased a new position in shares of NetScout Systems during the third quarter worth approximately $206,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of NetScout Systems by 170.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,591 shares of the technology company’s stock worth $231,000 after acquiring an additional 4,788 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of NetScout Systems during the third quarter worth approximately $241,000. Verition Fund Management LLC purchased a new position in shares of NetScout Systems during the second quarter worth approximately $248,000. Finally, CHICAGO TRUST Co NA purchased a new position in shares of NetScout Systems during the fourth quarter worth approximately $283,000.
NetScout Systems, Inc. (NTCT) opened at $27.25 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.61 and a current ratio of 1.70. NetScout Systems, Inc. has a one year low of $25.50 and a one year high of $38.47. The stock has a market cap of $2,378.03, a P/E ratio of 19.75, a PEG ratio of 2.61 and a beta of 1.52.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. NetScout Systems had a net margin of 7.95% and a return on equity of 5.34%. The firm had revenue of $272.00 million for the quarter, compared to the consensus estimate of $271.36 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was down 12.7% on a year-over-year basis. analysts predict that NetScout Systems, Inc. will post 1.04 EPS for the current year.
NetScout Systems declared that its board has initiated a share buyback plan on Thursday, October 26th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, insider John Downing sold 3,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $28.20, for a total transaction of $84,600.00. Following the transaction, the insider now directly owns 47,427 shares in the company, valued at $1,337,441.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.51% of the stock is currently owned by company insiders.
A number of equities analysts have recently commented on the stock. Piper Jaffray Companies set a $32.00 target price on shares of NetScout Systems and gave the stock a “buy” rating in a research report on Monday, February 12th. Royal Bank of Canada reaffirmed a “hold” rating on shares of NetScout Systems in a research report on Tuesday, January 30th. DA Davidson lowered shares of NetScout Systems from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $37.00 to $27.00 in a research report on Wednesday, January 10th. Craig Hallum set a $23.00 target price on shares of NetScout Systems and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Finally, B. Riley raised their target price on shares of NetScout Systems from $28.50 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. NetScout Systems currently has a consensus rating of “Hold” and an average target price of $29.00.
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NetScout Systems 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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