UBS Group AG reduced its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 90.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,546 shares of the technology company’s stock after selling 86,073 shares during the period. UBS Group AG’s holdings in NetScout Systems were worth $363,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in shares of NetScout Systems during the first quarter valued at approximately $363,000. Oregon Public Employees Retirement Fund increased its stake in shares of NetScout Systems by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 32,185 shares of the technology company’s stock valued at $1,221,000 after buying an additional 400 shares in the last quarter. Strs Ohio increased its stake in shares of NetScout Systems by 24.5% in the first quarter. Strs Ohio now owns 11,700 shares of the technology company’s stock valued at $444,000 after buying an additional 2,300 shares in the last quarter. Nationwide Fund Advisors increased 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 valued at $23,011,000 after buying an additional 58,505 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. increased its stake in shares of NetScout Systems by 3.1% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 586,977 shares of the technology company’s stock valued at $22,276,000 after buying an additional 17,718 shares in the last quarter.
NetScout Systems, Inc. (NASDAQ NTCT) remained flat at $32.70 during trading on Friday. The company had a trading volume of 514,535 shares. The firm has a market capitalization of $2.93 billion, a PE ratio of 165.99 and a beta of 1.61. NetScout Systems, Inc. has a 12 month low of $26.25 and a 12 month high of $38.47. The stock’s 50 day moving average is $34.05 and its 200 day moving average is $35.86.
NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.08 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.08. NetScout Systems had a net margin of 1.60% and a return on equity of 5.53%. The firm had revenue of $225.80 million for the quarter, compared to analysts’ expectations of $225.66 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was down 16.1% on a year-over-year basis. Analysts anticipate that NetScout Systems, Inc. will post $2.06 EPS for the current year.
Several equities analysts recently weighed in on NTCT shares. BidaskClub raised shares of NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. B. Riley reaffirmed a “buy” rating and issued a $42.00 price target on shares of NetScout Systems in a research report on Wednesday, May 10th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of NetScout Systems in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $39.00.
In other news, insider Michael Szabados sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $34.60, for a total transaction of $173,000.00. Following the sale, the insider now owns 39,170 shares in the company, valued at $1,355,282. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Victor Demarines sold 5,400 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $35.88, for a total transaction of $193,752.00. Following the sale, the director now owns 17,732 shares in the company, valued at approximately $636,224.16. The disclosure for this sale can be found here. Corporate insiders own 3.51% 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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