Mackenzie Financial Corp Grows Position in NetScout Systems, Inc. (NASDAQ:NTCT)

Mackenzie Financial Corp boosted its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 89.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,495 shares of the technology company’s stock after purchasing an additional 57,239 shares during the quarter. Mackenzie Financial Corp owned about 0.17% of NetScout Systems worth $2,632,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NTCT. Legal & General Group Plc raised its stake in NetScout Systems by 12.2% during the fourth quarter. Legal & General Group Plc now owns 4,118,267 shares of the technology company’s stock valued at $89,202,000 after purchasing an additional 448,537 shares in the last quarter. JPMorgan Chase & Co. raised its stake in NetScout Systems by 137.7% during the fourth quarter. JPMorgan Chase & Co. now owns 388,286 shares of the technology company’s stock valued at $8,410,000 after purchasing an additional 224,925 shares in the last quarter. Norges Bank purchased a new stake in NetScout Systems during the fourth quarter valued at $4,480,000. Prudential Financial Inc. raised its stake in NetScout Systems by 102.9% during the fourth quarter. Prudential Financial Inc. now owns 392,566 shares of the technology company’s stock valued at $8,503,000 after purchasing an additional 199,079 shares in the last quarter. Finally, LSV Asset Management raised its stake in NetScout Systems by 205.7% during the fourth quarter. LSV Asset Management now owns 257,700 shares of the technology company’s stock valued at $5,582,000 after purchasing an additional 173,400 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Activity

In other news, COO Michael Szabados sold 7,500 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $22.77, for a total value of $170,775.00. Following the sale, the chief operating officer now owns 28,489 shares of the company’s stock, valued at approximately $648,694.53. This represents a 20.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.71% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada upped their price target on shares of NetScout Systems from $22.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st.

NetScout Systems Trading Down 1.1%

Shares of NTCT opened at $23.12 on Friday. NetScout Systems, Inc. has a twelve month low of $17.10 and a twelve month high of $27.89. The company has a market cap of $1.65 billion, a P/E ratio of -3.95 and a beta of 0.62. The company has a current ratio of 1.81, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $21.37 and its 200-day simple moving average is $22.03.

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

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.