NetScout Systems, Inc. (NASDAQ:NTCT) Stake Lifted by Quantedge Capital Pte Ltd

Quantedge Capital Pte Ltd increased its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 98.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,300 shares of the technology company’s stock after buying an additional 60,800 shares during the quarter. Quantedge Capital Pte Ltd owned about 0.17% of NetScout Systems worth $2,649,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in NetScout Systems by 55.0% during the fourth quarter. Victory Capital Management Inc. now owns 80,507 shares of the technology company’s stock valued at $1,744,000 after buying an additional 28,583 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in NetScout Systems by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,251,156 shares of the technology company’s stock valued at $27,100,000 after buying an additional 85,713 shares in the last quarter. Vanguard Group Inc. boosted its stake in NetScout Systems by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 9,353,501 shares of the technology company’s stock valued at $202,597,000 after buying an additional 64,475 shares in the last quarter. Principal Financial Group Inc. boosted its stake in NetScout Systems by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 347,650 shares of the technology company’s stock valued at $7,530,000 after buying an additional 11,617 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in NetScout Systems by 4.9% during the fourth quarter. Empowered Funds LLC now owns 43,148 shares of the technology company’s stock valued at $935,000 after buying an additional 2,008 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP John Downing sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $24.25, for a total transaction of $72,750.00. Following the completion of the sale, the executive vice president now directly owns 130,352 shares of the company’s stock, valued at $3,161,036. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.71% of the company’s stock.

NetScout Systems Trading Down 1.6%

Shares of NASDAQ NTCT opened at $22.65 on Thursday. NetScout Systems, Inc. has a 12 month low of $17.10 and a 12 month high of $27.89. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -3.87 and a beta of 0.62. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $20.89 and a 200-day simple moving average of $21.89.

NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, May 8th. The technology company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $204.99 million during the quarter, compared to the consensus estimate of $194.80 million. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. NetScout Systems’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 earnings per share. Sell-side analysts predict that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Analysts Set New Price Targets

Separately, Royal Bank of Canada raised their target price on NetScout Systems from $22.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st.

NetScout Systems Profile

NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.