NetScout Systems (NASDAQ:NTCT) issued its quarterly earnings data on Thursday. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05, MarketWatch Earnings reports. NetScout Systems had a positive return on equity of 2.09% and a negative net margin of 8.32%. The business had revenue of $235.00 million during the quarter, compared to the consensus estimate of $235.04 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The business’s revenue was down .1% on a year-over-year basis. NetScout Systems updated its FY19 guidance to $1.38 EPS and its FY20 guidance to $1.40-1.45 EPS.
NASDAQ:NTCT traded down $0.35 during midday trading on Friday, hitting $28.83. 496,475 shares of the stock were exchanged, compared to its average volume of 402,733. NetScout Systems has a one year low of $21.58 and a one year high of $31.77. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 2.71 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 2.00.
Several equities research analysts recently commented on NTCT shares. Piper Jaffray Companies cut NetScout Systems from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $31.00 to $30.00 in a report on Wednesday, April 10th. ValuEngine cut NetScout Systems from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, Zacks Investment Research raised NetScout Systems from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $29.00.
In related news, insider John Downing sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $26.68, for a total transaction of $80,040.00. Following the sale, the insider now owns 98,366 shares of the company’s stock, valued at $2,624,404.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Szabados sold 6,000 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $25.85, for a total value of $155,100.00. Following the completion of the transaction, the insider now directly owns 49,403 shares in the company, valued at approximately $1,277,067.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,500 shares of company stock worth $333,140. 3.93% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NTCT. Oregon Public Employees Retirement Fund increased its holdings in shares of NetScout Systems by 2,038.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 678,701 shares of the technology company’s stock valued at $29,000 after buying an additional 646,969 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of NetScout Systems in the fourth quarter valued at $74,000. Dupont Capital Management Corp bought a new position in shares of NetScout Systems in the fourth quarter valued at $184,000. Pillar Pacific Capital Management LLC bought a new position in shares of NetScout Systems in the first quarter valued at $202,000. Finally, Amundi Pioneer Asset Management Inc. bought a new position in shares of NetScout Systems in the fourth quarter valued at $217,000.
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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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