First Trust Advisors LP increased its stake in NetScout Systems, Inc. (NASDAQ:NTCT) by 12.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 239,143 shares of the technology company’s stock after buying an additional 26,422 shares during the period. First Trust Advisors LP owned about 0.26% of NetScout Systems worth $9,075,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in shares of NetScout Systems by 191.5% in the fourth quarter. Franklin Resources Inc. now owns 3,595,752 shares of the technology company’s stock valued at $113,267,000 after buying an additional 2,362,231 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NetScout Systems by 46.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,448,071 shares of the technology company’s stock valued at $77,115,000 after buying an additional 773,492 shares in the last quarter. Fort Pitt Capital Group LLC raised its stake in shares of NetScout Systems by 8.8% in the fourth quarter. Fort Pitt Capital Group LLC now owns 1,104,158 shares of the technology company’s stock valued at $34,781,000 after buying an additional 89,417 shares in the last quarter. P2 Capital Partners LLC bought a new stake in shares of NetScout Systems during the third quarter valued at approximately $29,250,000. Finally, Norges Bank bought a new stake in shares of NetScout Systems during the fourth quarter valued at approximately $23,706,000.
NetScout Systems, Inc. (NTCT) traded up 0.98% during mid-day trading on Friday, hitting $36.00. 1,088,901 shares of the stock traded hands. The company’s 50 day moving average price is $35.89 and its 200-day moving average price is $35.17. NetScout Systems, Inc. has a 1-year low of $20.99 and a 1-year high of $38.47. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 100.00 and a beta of 1.62.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.10. NetScout Systems had a net margin of 2.84% and a return on equity of 6.33%. The firm had revenue of $318.92 million for the quarter, compared to analysts’ expectations of $327.10 million. During the same quarter in the prior year, the business earned $0.44 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts predict that NetScout Systems, Inc. will post $2.00 earnings per share for the current year.
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Several analysts have commented on NTCT shares. Zacks Investment Research raised shares of NetScout Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Wednesday, April 5th. B. Riley reaffirmed a “buy” rating and issued a $45.00 price objective on shares of NetScout Systems in a research report on Wednesday, February 22nd. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. NetScout Systems presently has an average rating of “Hold” and an average target price of $36.50.
In other NetScout Systems news, COO Michael Szabados sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $34.73, for a total transaction of $173,650.00. Following the sale, the chief operating officer now owns 38,257 shares in the company, valued at approximately $1,328,665.61. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Victor Demarines sold 5,400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $35.88, for a total transaction of $193,752.00. Following the sale, the director now owns 17,732 shares in the company, valued at approximately $636,224.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,400 shares of company stock worth $402,002. 3.30% of the stock is owned by company insiders.
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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