NetScout Systems, Inc. (NTCT) Coverage Initiated by Analysts at Piper Jaffray Companies
Investment analysts at Piper Jaffray Companies started coverage on shares of NetScout Systems, Inc. (NASDAQ:NTCT) in a note issued to investors on Monday. The firm set an “overweight” rating on the technology company’s stock.
A number of other research firms have also recently commented on NTCT. Royal Bank Of Canada restated a “hold” rating on shares of NetScout Systems in a research note on Thursday, July 20th. Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. B. Riley restated a “buy” rating and set a $44.00 price target on shares of NetScout Systems in a research note on Wednesday, August 2nd. BidaskClub cut NetScout Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, KeyCorp reiterated a “hold” rating on shares of NetScout Systems in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. NetScout Systems presently has a consensus rating of “Hold” and a consensus price target of $33.00.
NetScout Systems (NTCT) opened at $28.57 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 1.60. NetScout Systems has a 52 week low of $27.65 and a 52 week high of $38.47. The company has a market capitalization of $2,490.05, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 1.71 and a beta of 1.57.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. NetScout Systems had a return on equity of 5.15% and a net margin of 1.52%. The company had revenue of $256.90 million for the quarter, compared to analysts’ expectations of $251.13 million. During the same period in the prior year, the firm earned $0.39 earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. sell-side analysts predict that NetScout Systems will post 1.59 EPS for the current fiscal year.
NetScout Systems announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 26th that authorizes the company to repurchase 25,000,000 outstanding shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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In other news, EVP John Downing sold 3,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $28.17, for a total value of $84,510.00. Following the sale, the executive vice president now directly owns 88,821 shares in the company, valued at $2,502,087.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Szabados sold 5,000 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $28.19, for a total value of $140,950.00. Following the completion of the sale, the insider now owns 43,424 shares in the company, valued at $1,224,122.56. The disclosure for this sale can be found here. 3.51% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Airain ltd purchased a new position in NetScout Systems in the second quarter valued at $1,239,000. Gilman Hill Asset Management LLC purchased a new position in NetScout Systems in the third quarter valued at $323,000. Balyasny Asset Management LLC purchased a new position in NetScout Systems in the second quarter valued at $5,968,000. North Star Asset Management Inc. increased its holdings in NetScout Systems by 6.0% in the third quarter. North Star Asset Management Inc. now owns 199,029 shares of the technology company’s stock valued at $7,553,000 after buying an additional 11,305 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in NetScout Systems by 3.9% in the second quarter. Eagle Asset Management Inc. now owns 87,870 shares of the technology company’s stock valued at $3,022,000 after buying an additional 3,268 shares during the last quarter.
About NetScout Systems
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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