Royal Bank of Canada Reiterates Sector Perform Rating for NetScout Systems (NASDAQ:NTCT)

NetScout Systems (NASDAQ:NTCT)‘s stock had its “sector perform” rating reissued by stock analysts at Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They presently have a $22.00 price objective on the technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 7.63% from the company’s current price.

Separately, StockNews.com downgraded shares of NetScout Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

NetScout Systems Price Performance

Shares of NASDAQ NTCT traded up $0.07 during midday trading on Friday, reaching $20.44. 18,181 shares of the stock traded hands, compared to its average volume of 716,074. The company’s 50 day moving average is $19.06 and its 200 day moving average is $20.43. NetScout Systems has a one year low of $17.10 and a one year high of $30.37. The stock has a market capitalization of $1.46 billion, a PE ratio of -9.74 and a beta of 0.60. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.70 and a quick ratio of 1.67.

NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results on Thursday, May 9th. The technology company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). NetScout Systems had a negative net margin of 17.81% and a positive return on equity of 5.11%. The company had revenue of $203.44 million for the quarter, compared to analysts’ expectations of $215.94 million. On average, equities research analysts anticipate that NetScout Systems will post 1.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Michael Szabados sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $20.41, for a total transaction of $102,050.00. Following the transaction, the chief operating officer now owns 21,084 shares in the company, valued at $430,324.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NetScout Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in NetScout Systems by 2.5% in the first quarter. Vanguard Group Inc. now owns 9,230,849 shares of the technology company’s stock worth $201,602,000 after buying an additional 223,975 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of NetScout Systems by 73.0% during the 4th quarter. First Trust Advisors LP now owns 4,429,158 shares of the technology company’s stock worth $97,220,000 after purchasing an additional 1,869,529 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in NetScout Systems by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 977,483 shares of the technology company’s stock worth $21,456,000 after purchasing an additional 60,772 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of NetScout Systems by 74.5% during the second quarter. Assenagon Asset Management S.A. now owns 846,435 shares of the technology company’s stock valued at $15,481,000 after buying an additional 361,245 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of NetScout Systems in the 4th quarter valued at about $10,184,000. 91.64% of the stock is currently owned by institutional investors.

About NetScout Systems

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.