NetScout Systems (NASDAQ:NTCT) Stock Price Up 0.8% – Here’s What Happened

NetScout Systems, Inc. (NASDAQ:NTCT) shares rose 0.8% during mid-day trading on Monday . The company traded as high as $21.15 and last traded at $20.90. Approximately 44,461 shares changed hands during trading, a decline of 91% from the average daily volume of 508,442 shares. The stock had previously closed at $20.73.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NTCT shares. Royal Bank of Canada lifted 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. StockNews.com upgraded NetScout Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 10th.

NetScout Systems Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.78. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -3.57 and a beta of 0.64. The firm has a fifty day simple moving average of $22.75 and a two-hundred day simple moving average of $21.88.

NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. On average, analysts expect that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Insider Buying and Selling

In other news, insider Jean A. Bua sold 11,999 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $23.92, for a total transaction of $287,016.08. Following the completion of the transaction, the insider now directly owns 71,361 shares of the company’s stock, valued at $1,706,955.12. This represents a 14.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Downing sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $24.25, for a total value of $72,750.00. Following the transaction, the executive vice president now owns 130,352 shares in the company, valued at $3,161,036. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,499 shares of company stock valued at $512,321 over the last quarter. 3.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NetScout Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in shares of NetScout Systems by 1,214.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,263 shares in the last quarter. Quarry LP grew its holdings in shares of NetScout Systems by 316.8% in the third quarter. Quarry LP now owns 1,513 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,150 shares during the period. FMR LLC increased its holdings in shares of NetScout Systems by 32.1% during the 3rd quarter. FMR LLC now owns 1,964 shares of the technology company’s stock worth $43,000 after buying an additional 477 shares during the last quarter. Sterling Capital Management LLC raised its position in NetScout Systems by 811.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company’s stock valued at $48,000 after purchasing an additional 1,973 shares during the period. Finally, KBC Group NV lifted its position in NetScout Systems by 52.4% in the third quarter. KBC Group NV now owns 3,100 shares of the technology company’s stock valued at $67,000 after buying an additional 1,066 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

NetScout Systems Company 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.