New England Asset Management Inc. continued to hold its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) during the first quarter, Holdings Channel reports. The institutional investor owned 3,916 shares of the technology company’s stock at the end of the first quarter. New England Asset Management Inc.’s holdings in NetScout Systems were worth $149,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. Nationwide Fund Advisors raised its stake in shares of NetScout Systems by 10.7% in the first quarter. Nationwide Fund Advisors now owns 606,356 shares of the technology company’s stock worth $23,011,000 after buying an additional 58,505 shares during the period. AXA raised its stake in shares of NetScout Systems by 371.7% in the first quarter. AXA now owns 50,000 shares of the technology company’s stock worth $1,898,000 after buying an additional 39,400 shares during the period. Ameriprise Financial Inc. raised its stake in shares of NetScout Systems by 0.4% in the first quarter. Ameriprise Financial Inc. now owns 352,345 shares of the technology company’s stock worth $13,372,000 after buying an additional 1,576 shares during the period. B. Riley Financial Inc. raised its stake in shares of NetScout Systems by 68.4% in the first quarter. B. Riley Financial Inc. now owns 13,094 shares of the technology company’s stock worth $497,000 after buying an additional 5,320 shares during the period. Finally, Chicago Equity Partners LLC acquired a new stake in shares of NetScout Systems during the first quarter worth about $2,405,000.
Shares of NetScout Systems, Inc. (NASDAQ NTCT) traded up 0.98% during trading on Friday, hitting $36.00. The stock had a trading volume of 1,088,901 shares. NetScout Systems, Inc. has a one year low of $20.99 and a one year high of $38.47. The company has a market cap of $3.30 billion, a P/E ratio of 100.00 and a beta of 1.62. The stock’s 50-day moving average price is $35.95 and its 200-day moving average price is $35.14.
NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, May 4th. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.55 by $0.10. The business had revenue of $318.92 million for the quarter, compared to the consensus estimate of $327.10 million. NetScout Systems had a return on equity of 6.33% and a net margin of 2.84%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. On average, equities research analysts forecast that NetScout Systems, Inc. will post $2.00 EPS for the current fiscal year.
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NTCT has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of NetScout Systems from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Wednesday, April 5th. B. Riley reiterated a “buy” rating and set a $42.00 price target on shares of NetScout Systems in a research note on Wednesday, May 10th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. NetScout Systems currently has a consensus rating of “Hold” and an average target price of $36.50.
In related news, COO Michael Szabados sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $34.73, for a total transaction of $173,650.00. Following the sale, the chief operating officer now directly owns 38,257 shares in the company, valued at approximately $1,328,665.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Downing sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $34.60, for a total value of $34,600.00. Following the sale, the insider now owns 112,215 shares in the company, valued at $3,882,639. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,400 shares of company stock worth $402,002. Company insiders own 3.30% of the company’s stock.
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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