Public Employees Retirement System of Ohio grew its position in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 1,043.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 45,602 shares of the technology company’s stock after acquiring an additional 41,613 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.06% of NetScout Systems worth $1,078,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in NetScout Systems by 0.5% during the fourth quarter. Macquarie Group Ltd. now owns 1,273,115 shares of the technology company’s stock valued at $30,084,000 after purchasing an additional 6,700 shares in the last quarter. Legal & General Group Plc boosted its position in NetScout Systems by 891.5% during the fourth quarter. Legal & General Group Plc now owns 995,042 shares of the technology company’s stock valued at $23,512,000 after purchasing an additional 894,682 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in NetScout Systems by 3.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 17,895 shares of the technology company’s stock valued at $423,000 after purchasing an additional 571 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in NetScout Systems during the fourth quarter valued at about $217,000. Finally, Cipher Capital LP bought a new stake in NetScout Systems during the fourth quarter valued at about $684,000.
Shares of NASDAQ NTCT opened at $28.27 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 2.00. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 2.57 and a beta of 1.30. NetScout Systems, Inc. has a fifty-two week low of $21.58 and a fifty-two week high of $31.77.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. The business had revenue of $246.00 million during the quarter, compared to the consensus estimate of $237.17 million. NetScout Systems had a positive return on equity of 2.09% and a negative net margin of 8.32%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company earned $0.69 earnings per share. On average, equities analysts anticipate that NetScout Systems, Inc. will post 0.8 earnings per share for the current year.
In related news, insider John Downing sold 3,000 shares of NetScout Systems stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $26.68, for a total transaction of $80,040.00. Following the completion of the sale, the insider now owns 98,366 shares of the company’s stock, valued at $2,624,404.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph G. Hadzima, Jr. sold 3,500 shares of NetScout Systems stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $28.00, for a total value of $98,000.00. Following the sale, the director now directly owns 113,798 shares of the company’s stock, valued at approximately $3,186,344. The disclosure for this sale can be found here. In the last three months, insiders sold 12,500 shares of company stock valued at $333,140. Corporate insiders own 3.93% of the company’s stock.
NTCT has been the topic of a number of recent research reports. Zacks Investment Research downgraded NetScout Systems from a “buy” rating to a “sell” rating in a research report on Thursday, February 7th. Lake Street Capital set a $33.00 price target on NetScout Systems and gave the stock a “buy” rating in a report on Wednesday, December 26th. ValuEngine downgraded NetScout Systems from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Finally, Piper Jaffray Companies downgraded NetScout Systems from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $31.00 to $30.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $29.00.
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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.
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