Nisa Investment Advisors LLC Sells 7,587 Shares of NetScout Systems Inc. (NTCT)
Nisa Investment Advisors LLC lowered its position in NetScout Systems Inc. (NASDAQ:NTCT) by 3.2% during the third quarter, Holdings Channel reports. The firm owned 232,528 shares of the company’s stock after selling 7,587 shares during the period. Nisa Investment Advisors LLC’s holdings in NetScout Systems were worth $6,801,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of NTCT. California State Teachers Retirement System raised its stake in shares of NetScout Systems by 3.2% in the second quarter. California State Teachers Retirement System now owns 201,693 shares of the company’s stock worth $4,488,000 after buying an additional 6,173 shares during the period. Ngam Advisors L.P. purchased a new stake in shares of NetScout Systems during the second quarter valued at about $294,000. North Star Asset Management Inc. raised its stake in shares of NetScout Systems by 14.2% in the second quarter. North Star Asset Management Inc. now owns 231,075 shares of the company’s stock valued at $5,141,000 after buying an additional 28,725 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of NetScout Systems during the second quarter valued at about $18,779,000. Finally, Strs Ohio raised its stake in shares of NetScout Systems by 44.6% in the second quarter. Strs Ohio now owns 9,400 shares of the company’s stock valued at $209,000 after buying an additional 2,900 shares during the last quarter. Institutional investors and hedge funds own 98.12% of the company’s stock.
NetScout Systems Inc. (NASDAQ:NTCT) traded down 2.266% during mid-day trading on Wednesday, hitting $31.275. The company had a trading volume of 325,575 shares. The firm’s 50 day moving average is $29.94 and its 200 day moving average is $27.19. The company’s market capitalization is $2.86 billion. NetScout Systems Inc. has a 52 week low of $18.77 and a 52 week high of $33.89.
NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $272 million for the quarter, compared to the consensus estimate of $279.72 million. NetScout Systems had a positive return on equity of 5.51% and a negative net margin of 3.38%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 EPS. On average, equities research analysts predict that NetScout Systems Inc. will post $1.88 EPS for the current year.
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Several brokerages have issued reports on NTCT. B. Riley restated a “buy” rating and issued a $34.00 target price on shares of NetScout Systems in a research note on Wednesday, August 3rd. Pacific Crest restated a “buy” rating on shares of NetScout Systems in a research note on Monday, September 12th. Finally, Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $29.21.
In other NetScout Systems news, insider John Downing sold 1,000 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $27.50, for a total transaction of $27,500.00. Following the sale, the insider now directly owns 109,963 shares in the company, valued at approximately $3,023,982.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Szabados sold 5,000 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $27.45, for a total value of $137,250.00. Following the sale, the chief operating officer now owns 44,007 shares in the company, valued at $1,207,992.15. The disclosure for this sale can be found here. 3.30% 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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