New York State Teachers Retirement System held its position in NetScout Systems Inc. (NASDAQ:NTCT) during the second quarter, Holdings Channel reports. The fund owned 105,788 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in NetScout Systems were worth $2,354,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. LS Investment Advisors LLC boosted its stake in NetScout Systems by 64.8% in the second quarter. LS Investment Advisors LLC now owns 5,637 shares of the company’s stock worth $125,000 after buying an additional 2,216 shares during the period. Virginia Retirement System purchased a new stake in NetScout Systems during the first quarter worth approximately $264,000. Eachwin Capital LP purchased a new stake in NetScout Systems during the first quarter worth approximately $356,000. Magnetar Financial LLC boosted its stake in NetScout Systems by 30.4% in the first quarter. Magnetar Financial LLC now owns 16,904 shares of the company’s stock worth $388,000 after buying an additional 3,945 shares during the period. Finally, Creative Planning boosted its stake in NetScout Systems by 0.6% in the second quarter. Creative Planning now owns 33,799 shares of the company’s stock worth $752,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 98.12% of the company’s stock.
Shares of NetScout Systems Inc. (NASDAQ:NTCT) traded up 1.28% during mid-day trading on Friday, reaching $28.55. The company’s stock had a trading volume of 741,798 shares. The firm’s 50-day moving average price is $29.07 and its 200 day moving average price is $25.49. The firm’s market cap is $2.63 billion. NetScout Systems Inc. has a 12-month low of $18.77 and a 12-month high of $40.28.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. NetScout Systems had a positive return on equity of 5.80% and a negative net margin of 4.01%. The company earned $269 million during the quarter, compared to analysts’ expectations of $273.47 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s revenue was up 167.1% compared to the same quarter last year. On average, analysts expect that NetScout Systems Inc. will post $1.93 EPS for the current year.
NTCT has been the subject of a number of research reports. Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. Pacific Crest reiterated a “buy” rating on shares of NetScout Systems in a research report on Monday, September 12th. Finally, B. Riley reiterated a “buy” rating and set a $34.00 price objective on shares of NetScout Systems in a research report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.63.
In other NetScout Systems news, COO Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $27.64, for a total transaction of $138,200.00. Following the completion of the sale, the chief operating officer now owns 35,526 shares of the company’s stock, valued at approximately $981,938.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John Downing sold 1,000 shares of NetScout Systems stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $27.48, for a total value of $27,480.00. Following the sale, the executive vice president now directly owns 100,989 shares of the company’s stock, valued at approximately $2,775,177.72. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.
NetScout Systems Company Profile
NetScout Systems, Inc is a provider of network, application and service assurance solutions. The Company provides performance analytics that help enterprise, government and service provider customers manage service delivery and identify emerging performance problems. The Company designs, develops, manufactures, markets, licenses, sells and supports the products in hardware and software solutions that are used by commercial enterprises, governmental agencies and telecommunication service providers.
Want to see what other hedge funds are holding NTCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetScout Systems Inc. (NASDAQ:NTCT).
Receive News & Ratings for NetScout Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetScout Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.