NetScout Systems, Inc. (NTCT) Stake Lifted by Prudential Financial Inc.
Prudential Financial Inc. lifted its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 53.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,036 shares of the technology company’s stock after acquiring an additional 32,270 shares during the period. Prudential Financial Inc. owned 0.10% of NetScout Systems worth $3,201,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in NTCT. Seven Bridges Advisors LLC purchased a new position in shares of NetScout Systems during the 2nd quarter worth about $109,000. Bank of Montreal Can lifted its holdings in shares of NetScout Systems by 8.9% during the 2nd quarter. Bank of Montreal Can now owns 3,311 shares of the technology company’s stock worth $113,000 after acquiring an additional 271 shares during the period. World Asset Management Inc purchased a new position in shares of NetScout Systems during the 1st quarter worth about $213,000. Juncture Wealth Strategies LLC purchased a new position in shares of NetScout Systems during the 2nd quarter worth about $216,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of NetScout Systems during the 1st quarter worth about $220,000.
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In other NetScout Systems news, insider Michael Szabados sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $34.60, for a total transaction of $173,000.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.51% of the company’s stock.
Several brokerages have recently weighed in on NTCT. Royal Bank Of Canada reiterated a “hold” rating and set a $35.00 price objective on shares of NetScout Systems in a report on Monday, September 4th. Zacks Investment Research upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub lowered shares of NetScout Systems from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, B. Riley reiterated a “buy” rating and set a $44.00 price objective on shares of NetScout Systems in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $40.33.
NetScout Systems, Inc. (NASDAQ:NTCT) opened at 32.65 on Friday. NetScout Systems, Inc. has a one year low of $26.25 and a one year high of $38.47. The stock’s 50 day moving average is $32.98 and its 200 day moving average is $35.28. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 165.74 and a beta of 1.62.
NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.08. NetScout Systems had a return on equity of 5.53% and a net margin of 1.60%. The firm had revenue of $225.80 million during the quarter, compared to analyst estimates of $225.66 million. During the same period last year, the company posted $0.28 EPS. The business’s quarterly revenue was down 16.1% compared to the same quarter last year. On average, equities analysts forecast that NetScout Systems, Inc. will post $2.06 EPS for the current year.
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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