NetScout Systems (NASDAQ:NTCT) Raised to “Hold” at BidaskClub

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BidaskClub upgraded shares of NetScout Systems (NASDAQ:NTCT) from a sell rating to a hold rating in a report issued on Thursday, BidAskClub reports.

Separately, Zacks Investment Research raised NetScout Systems from a sell rating to a hold rating in a report on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. NetScout Systems has an average rating of Hold and an average target price of $29.00.

NTCT traded down $0.04 on Thursday, reaching $24.33. The company’s stock had a trading volume of 290,721 shares, compared to its average volume of 503,467. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 2.63 and a beta of 1.34. NetScout Systems has a 1 year low of $20.94 and a 1 year high of $30.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.93 and a quick ratio of 1.86. The business’s 50 day moving average is $22.96 and its 200 day moving average is $25.88.

NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $186.10 million during the quarter, compared to the consensus estimate of $196.98 million. NetScout Systems had a positive return on equity of 3.35% and a negative net margin of 4.51%. NetScout Systems’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 earnings per share. As a group, research analysts forecast that NetScout Systems will post 0.93 earnings per share for the current fiscal year.

In other news, COO Michael Szabados sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $22.42, for a total transaction of $134,520.00. Following the sale, the chief operating officer now directly owns 61,093 shares in the company, valued at approximately $1,369,705.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Downing sold 3,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $22.03, for a total value of $66,090.00. Following the sale, the executive vice president now owns 105,854 shares in the company, valued at $2,331,963.62. The disclosure for this sale can be found here. Company insiders own 4.06% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Boston Partners raised its position in shares of NetScout Systems by 18.5% during the 2nd quarter. Boston Partners now owns 463,948 shares of the technology company’s stock worth $7,223,000 after purchasing an additional 72,508 shares during the period. Royal Bank of Canada increased its position in NetScout Systems by 4.7% in the 2nd quarter. Royal Bank of Canada now owns 19,074 shares of the technology company’s stock valued at $484,000 after acquiring an additional 854 shares during the period. Verition Fund Management LLC acquired a new stake in NetScout Systems in the 2nd quarter valued at approximately $292,000. United Services Automobile Association increased its position in NetScout Systems by 44.3% in the 2nd quarter. United Services Automobile Association now owns 16,109 shares of the technology company’s stock valued at $409,000 after acquiring an additional 4,948 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in NetScout Systems in the 2nd quarter valued at approximately $807,000. Institutional investors and hedge funds own 99.74% of the company’s stock.

NetScout Systems Company Profile

NetScout Systems, Inc provides real-time operational intelligence and performance analytics for digital business services against disruptions in availability, performance, and security 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.

See Also: Producer Price Index (PPI)

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