Quantedge Capital Pte Ltd Buys 60,800 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Quantedge Capital Pte Ltd lifted its stake in NetScout Systems, Inc. (NASDAQ:NTCT) by 98.9% during the fourth quarter, Holdings Channel reports. The fund owned 122,300 shares of the technology company’s stock after acquiring an additional 60,800 shares during the quarter. Quantedge Capital Pte Ltd’s holdings in NetScout Systems were worth $2,649,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in shares of NetScout Systems by 1,214.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,263 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of NetScout Systems by 811.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company’s stock worth $48,000 after purchasing an additional 1,973 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of NetScout Systems by 17.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company’s stock worth $76,000 after purchasing an additional 508 shares in the last quarter. KBC Group NV grew its holdings in shares of NetScout Systems by 45.1% during the 4th quarter. KBC Group NV now owns 4,498 shares of the technology company’s stock worth $97,000 after purchasing an additional 1,398 shares in the last quarter. Finally, Inceptionr LLC acquired a new stake in shares of NetScout Systems during the 4th quarter worth approximately $221,000. 91.64% of the stock is owned by institutional investors.

NetScout Systems Price Performance

Shares of NTCT stock opened at $22.65 on Thursday. The stock’s fifty day simple moving average is $20.89 and its 200 day simple moving average is $21.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.78. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -3.87 and a beta of 0.62. NetScout Systems, Inc. has a one year low of $17.10 and a one year high of $27.89.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $204.99 million for the quarter, compared to analyst estimates of $194.80 million. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. NetScout Systems’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. On average, analysts expect that NetScout Systems, Inc. will post 1.5 earnings per share for the current fiscal year.

Insider Activity at NetScout Systems

In other NetScout Systems news, EVP John Downing sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $24.25, for a total value of $72,750.00. Following the transaction, the executive vice president now owns 130,352 shares of the company’s stock, valued at approximately $3,161,036. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lifted their price objective on NetScout Systems from $22.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st.

NetScout Systems Company Profile

NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.