Legato Capital Management LLC Acquires 110,000 Shares of NetScout Systems, Inc. (NTCT)
Legato Capital Management LLC increased its position in NetScout Systems, Inc. (NASDAQ:NTCT) by 3,695.0% during the first quarter, Holdings Channel reports. The fund owned 112,977 shares of the technology company’s stock after buying an additional 110,000 shares during the period. Legato Capital Management LLC’s holdings in NetScout Systems were worth $2,977,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can boosted its position in NetScout Systems by 31.8% in the first quarter. Bank of Montreal Can now owns 3,040 shares of the technology company’s stock worth $115,000 after buying an additional 734 shares during the last quarter. Sei Investments Co. boosted its position in NetScout Systems by 3.8% in the third quarter. Sei Investments Co. now owns 5,799 shares of the technology company’s stock worth $170,000 after buying an additional 212 shares during the last quarter. Elkfork Partners LLC bought a new position in NetScout Systems during the fourth quarter worth approximately $185,000. LS Investment Advisors LLC boosted its position in NetScout Systems by 5.1% in the third quarter. LS Investment Advisors LLC now owns 5,927 shares of the technology company’s stock worth $173,000 after buying an additional 290 shares during the last quarter. Finally, Capstone Asset Management Co. bought a new position in NetScout Systems during the first quarter worth approximately $247,000.
Shares of NetScout Systems, Inc. (NASDAQ:NTCT) traded down 0.82% on Tuesday, reaching $36.30. 303,717 shares of the company’s stock traded hands. NetScout Systems, Inc. has a 52 week low of $20.99 and a 52 week high of $38.45. The firm has a market capitalization of $3.33 billion, a P/E ratio of 477.63 and a beta of 1.43. The firm’s 50 day moving average is $37.29 and its 200 day moving average is $33.26.
NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Tuesday, January 31st. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. NetScout Systems had a return on equity of 5.54% and a net margin of 0.65%. The business had revenue of $311.40 million for the quarter, compared to analyst estimates of $309.20 million. During the same quarter in the previous year, the firm earned $0.58 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Analysts expect that NetScout Systems, Inc. will post $1.89 earnings per share for the current fiscal year.
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A number of research firms have recently commented on NTCT. 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 report on Wednesday, April 5th. B. Riley reiterated a “buy” rating and set a $38.00 target price on shares of NetScout Systems in a report on Monday, February 6th. Royal Bank of Canada cut shares of NetScout Systems from an “outperform” rating to a “sector perform” rating and set a $31.00 target price on the stock. in a report on Thursday, January 19th. Pacific Crest cut shares of NetScout Systems from an “overweight” rating to a “sector weight” rating in a report on Monday, January 9th. Finally, Craig Hallum cut shares of NetScout Systems from a “buy” rating to a “hold” rating in a report on Tuesday, January 31st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $37.25.
In other news, insider John Downing sold 1,000 shares of NetScout Systems stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $32.99, for a total transaction of $32,990.00. Following the transaction, the insider now owns 114,215 shares in the company, valued at approximately $3,767,952.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $32.99, for a total value of $164,950.00. Following the transaction, the chief operating officer now owns 48,257 shares in the company, valued at approximately $1,591,998.43. The disclosure for this sale can be found here. 3.30% of the stock is owned by insiders.
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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