NetScout Systems (NASDAQ:NTCT) Trading 1.7% Higher – Here’s Why

NetScout Systems, Inc. (NASDAQ:NTCT)’s stock price was up 1.7% during mid-day trading on Wednesday . The stock traded as high as $21.42 and last traded at $21.49. Approximately 32,925 shares were traded during trading, a decline of 93% from the average daily volume of 503,348 shares. The stock had previously closed at $21.14.

Analysts Set New Price Targets

Several brokerages have recently commented on NTCT. Royal Bank of Canada raised their target price on NetScout Systems from $22.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. StockNews.com upgraded NetScout Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 10th.

NetScout Systems Price Performance

The stock has a market capitalization of $1.51 billion, a PE ratio of -3.60 and a beta of 0.64. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average is $22.72 and its 200 day moving average is $21.87.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. NetScout Systems had a negative net margin of 50.90% and a positive return on equity of 6.76%. As a group, equities analysts predict that NetScout Systems, Inc. will post 1.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Michael Szabados sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $23.47, for a total value of $152,555.00. Following the completion of the sale, the chief operating officer now owns 35,989 shares of the company’s stock, valued at approximately $844,661.83. The trade was a 15.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John Downing sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $24.25, for a total transaction of $72,750.00. Following the completion of the sale, the executive vice president now directly owns 130,352 shares of the company’s stock, valued at $3,161,036. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,499 shares of company stock valued at $512,321 in the last three months. Insiders own 3.71% of the company’s stock.

Institutional Trading of NetScout Systems

A number of institutional investors and hedge funds have recently made changes to their positions in NTCT. Russell Investments Group Ltd. raised its stake in shares of NetScout Systems by 1,214.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,263 shares in the last quarter. Quarry LP raised its holdings in NetScout Systems by 316.8% in the 3rd quarter. Quarry LP now owns 1,513 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,150 shares during the period. FMR LLC lifted its position in NetScout Systems by 32.1% during the 3rd quarter. FMR LLC now owns 1,964 shares of the technology company’s stock worth $43,000 after acquiring an additional 477 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of NetScout Systems by 811.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company’s stock valued at $48,000 after purchasing an additional 1,973 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of NetScout Systems by 52.4% in the third quarter. KBC Group NV now owns 3,100 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,066 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.