Legato Capital Management LLC Has $1.01 Million Stake in NetScout Systems, Inc. (NTCT)
Legato Capital Management LLC boosted its stake in NetScout Systems, Inc. (NASDAQ:NTCT) by 890.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,475 shares of the technology company’s stock after buying an additional 26,498 shares during the period. Legato Capital Management LLC’s holdings in NetScout Systems were worth $1,014,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in NTCT. Bank of Montreal Can raised its position in shares of NetScout Systems by 8.9% in the second quarter. Bank of Montreal Can now owns 3,311 shares of the technology company’s stock valued at $113,000 after buying an additional 271 shares during the last quarter. World Asset Management Inc bought a new position in shares of NetScout Systems during the first quarter valued at $213,000. Tudor Investment Corp ET AL bought a new position in shares of NetScout Systems during the first quarter valued at $220,000. Capstone Asset Management Co. raised its position in shares of NetScout Systems by 4.3% in the second quarter. Capstone Asset Management Co. now owns 6,786 shares of the technology company’s stock valued at $233,000 after buying an additional 280 shares during the last quarter. Finally, Credit Agricole S A bought a new position in shares of NetScout Systems during the first quarter valued at $246,000.
NetScout Systems, Inc. (NASDAQ:NTCT) traded down 1.31% on Friday, reaching $33.80. 899,337 shares of the company traded hands. The firm has a 50 day moving average price of $35.50 and a 200 day moving average price of $35.63. NetScout Systems, Inc. has a 52-week low of $24.67 and a 52-week high of $38.47. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 93.89 and a beta of 1.62.
NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.10. NetScout Systems had a return on equity of 6.33% and a net margin of 2.84%. The business had revenue of $318.92 million during the quarter, compared to analyst estimates of $327.10 million. During the same period in the previous year, the company earned $0.44 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. Equities research analysts predict that NetScout Systems, Inc. will post $2.00 EPS for the current year.
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NTCT has been the topic of several recent analyst reports. B. Riley reiterated a “buy” rating and set a $42.00 price objective on shares of NetScout Systems in a report on Friday, May 5th. Zacks Investment Research upgraded shares of NetScout Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Wednesday, April 5th. BidaskClub upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of NetScout Systems in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $36.50.
In related news, Director Victor Demarines sold 5,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $35.88, for a total value of $193,752.00. Following the completion of the sale, the director now directly owns 17,732 shares in the company, valued at approximately $636,224.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael Szabados sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $34.73, for a total value of $173,650.00. Following the completion of the sale, the chief operating officer now owns 38,257 shares of the company’s stock, valued at $1,328,665.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,400 shares of company stock valued at $402,002. Corporate insiders own 3.30% of the company’s stock.
About NetScout Systems
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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