Axa Raises Position in NetScout Systems, Inc. (NTCT)
Axa boosted its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 393.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 246,800 shares of the technology company’s stock after buying an additional 196,800 shares during the quarter. Axa owned approximately 0.27% of NetScout Systems worth $8,490,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Seven Bridges Advisors LLC purchased a new position in NetScout Systems during the second quarter valued at approximately $109,000. Bank of Montreal Can increased its holdings in NetScout Systems by 8.9% during 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 period. World Asset Management Inc purchased a new position in NetScout Systems during the first quarter valued at approximately $213,000. Juncture Wealth Strategies LLC purchased a new position in NetScout Systems during the second quarter valued at approximately $216,000. Finally, Tudor Investment Corp ET AL purchased a new position in NetScout Systems during the first quarter valued at approximately $220,000.
Several brokerages recently issued reports on NTCT. B. Riley reissued a “buy” rating and set a $44.00 price objective on shares of NetScout Systems in a report on Friday, July 28th. BidaskClub lowered shares of NetScout Systems from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $35.00 price target on shares of NetScout Systems in a report on Monday, September 4th. Finally, Zacks Investment Research raised shares of NetScout Systems from a “sell” rating to a “hold” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.33.
NetScout Systems, Inc. (NTCT) opened at 32.35 on Thursday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 164.21 and a beta of 1.62. NetScout Systems, Inc. has a 12-month low of $26.25 and a 12-month high of $38.47. The firm has a 50-day moving average of $33.21 and a 200 day moving average of $35.44.
NetScout Systems (NASDAQ:NTCT) last released its earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.08. The company had revenue of $225.80 million for the quarter, compared to analyst estimates of $225.66 million. NetScout Systems had a net margin of 1.60% and a return on equity of 5.53%. The firm’s quarterly revenue was down 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 EPS. On average, analysts predict that NetScout Systems, Inc. will post $2.06 earnings per share for the current fiscal year.
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In other news, insider Michael Szabados sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $34.60, for a total value of $173,000.00. Following the sale, the insider now directly owns 39,170 shares in the company, valued at approximately $1,355,282. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.51% of the stock is owned by corporate 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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