NetScout Systems, Inc. (NASDAQ:NTCT) Stake Maintained by NJ State Employees Deferred Compensation Plan
NJ State Employees Deferred Compensation Plan held its position in NetScout Systems, Inc. (NASDAQ:NTCT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,977 shares of the technology company’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in NetScout Systems were worth $687,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in NTCT. Great West Life Assurance Co. Can raised its position in NetScout Systems by 3.3% in the second quarter. Great West Life Assurance Co. Can now owns 56,221 shares of the technology company’s stock worth $1,931,000 after buying an additional 1,788 shares during the last quarter. Strs Ohio raised its position in NetScout Systems by 6.0% in the second quarter. Strs Ohio now owns 12,400 shares of the technology company’s stock worth $426,000 after buying an additional 700 shares during the last quarter. ING Groep NV bought a new position in NetScout Systems during the second quarter worth $384,000. Russell Investments Group Ltd. bought a new position in NetScout Systems during the second quarter worth $628,000. Finally, Juncture Wealth Strategies LLC bought a new position in NetScout Systems during the second quarter worth $216,000.
NetScout Systems, Inc. (NTCT) opened at 34.00 on Monday. NetScout Systems, Inc. has a 52 week low of $26.25 and a 52 week high of $38.47. The company has a 50 day moving average price of $34.87 and a 200 day moving average price of $35.78. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 172.59 and a beta of 1.61.
NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $225.80 million during the quarter, compared to analysts’ expectations of $225.66 million. NetScout Systems had a net margin of 1.60% and a return on equity of 5.53%. The firm’s revenue for the quarter was down 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. Analysts expect that NetScout Systems, Inc. will post $2.06 EPS for the current fiscal year.
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A number of research firms have weighed in on NTCT. Zacks Investment Research lowered NetScout Systems from a “hold” rating to a “sell” rating in a research note on Thursday. B. Riley reiterated a “buy” rating and set a $44.00 price objective on shares of NetScout Systems in a research note on Wednesday. BidaskClub upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Royal Bank Of Canada restated a “hold” rating on shares of NetScout Systems in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $39.00.
In related news, insider Michael Szabados sold 5,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $34.60, for a total transaction of $173,000.00. Following the completion of the transaction, the insider now directly owns 39,170 shares of the company’s stock, valued at $1,355,282. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Downing sold 1,000 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $34.60, for a total transaction of $34,600.00. Following the transaction, the insider now directly owns 112,215 shares of the company’s stock, valued at $3,882,639. The disclosure for this sale can be found here. Insiders have sold 16,400 shares of company stock valued at $575,002 over the last three months. 3.51% of the stock is currently owned by corporate insiders.
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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