Wells Fargo & Company MN cut its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 27.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 167,606 shares of the technology company’s stock after selling 62,975 shares during the quarter. Wells Fargo & Company MN owned 0.18% of NetScout Systems worth $5,766,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in NetScout Systems by 1.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 19,841 shares of the technology company’s stock worth $754,000 after buying an additional 226 shares during the last quarter. Bank of Montreal Can raised its position in NetScout Systems by 8.9% during the 2nd quarter. Bank of Montreal Can now owns 3,311 shares of the technology company’s stock worth $113,000 after buying an additional 271 shares during the last quarter. Capstone Asset Management Co. raised its position in NetScout Systems by 4.3% during the 2nd quarter. Capstone Asset Management Co. now owns 6,786 shares of the technology company’s stock worth $233,000 after buying an additional 280 shares during the last quarter. Teacher Retirement System of Texas raised its position in NetScout Systems by 5.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,960 shares of the technology company’s stock worth $239,000 after buying an additional 363 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its position in NetScout Systems by 2.3% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 16,187 shares of the technology company’s stock worth $360,000 after buying an additional 369 shares during the last quarter.
A number of equities analysts have issued reports on the stock. B. Riley reissued a “buy” rating and set a $44.00 price target on shares of NetScout Systems in a research report on Friday, July 28th. BidaskClub lowered shares of NetScout Systems from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Royal Bank Of Canada reissued a “hold” rating and set a $35.00 price target on shares of NetScout Systems in a research report on Tuesday. Finally, Zacks Investment Research raised shares of NetScout Systems from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. NetScout Systems currently has an average rating of “Hold” and a consensus target price of $39.50.
In other news, insider Michael Szabados sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $34.60, for a total transaction of $173,000.00. Following the completion of the sale, the insider now owns 39,170 shares in the company, valued at $1,355,282. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.51% of the stock is owned by corporate insiders.
Shares of NetScout Systems, Inc. (NASDAQ NTCT) opened at 33.05 on Wednesday. NetScout Systems, Inc. has a 52 week low of $26.25 and a 52 week high of $38.47. The stock’s 50 day moving average is $32.62 and its 200-day moving average is $34.79. The firm has a market cap of $2.96 billion, a PE ratio of 167.77 and a beta of 1.60.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $0.08 EPS for the quarter, hitting the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $225.66 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s quarterly revenue was down 16.1% compared to the same quarter last year. On average, equities analysts predict that NetScout Systems, Inc. will post $2.06 EPS for the current fiscal year.
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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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