Seven Bridges Advisors LLC Invests $109,000 in NetScout Systems, Inc. (NASDAQ:NTCT)
Seven Bridges Advisors LLC bought a new position in shares of NetScout Systems, Inc. (NASDAQ:NTCT) during the second quarter, Holdings Channel reports. The firm bought 3,180 shares of the technology company’s stock, valued at approximately $109,000.
Several other large investors also recently added to or reduced their stakes in the stock. Teachers Advisors LLC raised its stake in NetScout Systems by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 598,829 shares of the technology company’s stock worth $18,863,000 after buying an additional 14,467 shares during the period. Bank of Montreal Can raised its stake in NetScout Systems by 31.8% in the first quarter. Bank of Montreal Can now owns 3,040 shares of the technology company’s stock worth $115,000 after buying an additional 734 shares during the period. Capstone Asset Management Co. bought a new stake in NetScout Systems during the first quarter worth $247,000. Parametrica Management Ltd raised its stake in NetScout Systems by 84.1% in the first quarter. Parametrica Management Ltd now owns 11,987 shares of the technology company’s stock worth $455,000 after buying an additional 5,475 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in NetScout Systems by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 23,200 shares of the technology company’s stock worth $880,000 after buying an additional 600 shares during the period.
NetScout Systems, Inc. (NTCT) opened at 33.60 on Thursday. The firm’s 50-day moving average price is $34.55 and its 200-day moving average price is $35.84. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 170.56 and a beta of 1.61. NetScout Systems, Inc. has a 52-week low of $26.25 and a 52-week high of $38.48.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $0.08 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. The company had revenue of $225.80 million during the quarter, compared to analyst estimates of $225.66 million. NetScout Systems had a return on equity of 5.53% and a net margin of 1.60%. The firm’s revenue was down 16.1% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. On average, equities analysts anticipate that NetScout Systems, Inc. will post $2.06 EPS for the current year.
NTCT has been the subject of a number of recent research reports. B. Riley reissued a “buy” rating and issued a $42.00 target price on shares of NetScout Systems in a research note on Friday, May 5th. Zacks Investment Research lowered NetScout Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. BidaskClub lowered NetScout Systems from a “hold” rating to a “sell” rating in a research note on Saturday, July 1st. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of NetScout Systems in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. NetScout Systems currently has a consensus rating of “Hold” and a consensus price target of $39.00.
In other NetScout Systems news, Director Victor Demarines sold 5,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $35.88, for a total transaction of $193,752.00. Following the completion of the transaction, the director now owns 17,732 shares in the company, valued at $636,224.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Szabados sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $34.60, for a total value of $173,000.00. Following the transaction, the insider now owns 39,170 shares of the company’s stock, valued at approximately $1,355,282. The disclosure for this sale can be found here. 3.51% of the stock is owned by insiders.
NetScout Systems Company Profile
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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