NetScout Systems (NASDAQ:NTCT) Shares Down 5.6% – Here’s Why

NetScout Systems, Inc. (NASDAQ:NTCT)’s stock price was down 5.6% during mid-day trading on Thursday . The company traded as low as $19.50 and last traded at $19.72. Approximately 99,488 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 651,148 shares. The stock had previously closed at $20.90.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NTCT shares. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price target on shares of NetScout Systems in a research report on Friday, July 26th. StockNews.com cut NetScout Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 24th.

NetScout Systems Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.54 and a quick ratio of 1.50. The firm has a market capitalization of $1.44 billion, a P/E ratio of -9.95 and a beta of 0.58. The company’s 50 day moving average price is $20.75 and its 200 day moving average price is $19.85.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.16. The firm had revenue of $174.60 million for the quarter, compared to analyst estimates of $168.47 million. NetScout Systems had a positive return on equity of 5.35% and a negative net margin of 74.02%. The business’s quarterly revenue was down 17.3% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. As a group, sell-side analysts anticipate that NetScout Systems, Inc. will post 1.39 EPS for the current fiscal year.

Insider Buying and Selling at NetScout Systems

In other news, insider Jean A. Bua sold 19,205 shares of NetScout Systems stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $20.37, for a total transaction of $391,205.85. Following the completion of the sale, the insider now owns 78,598 shares in the company, valued at $1,601,041.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Michael Szabados sold 6,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $18.81, for a total value of $122,265.00. Following the completion of the sale, the chief operating officer now owns 43,434 shares in the company, valued at approximately $816,993.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jean A. Bua sold 19,205 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $20.37, for a total value of $391,205.85. Following the completion of the transaction, the insider now directly owns 78,598 shares in the company, valued at $1,601,041.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,952 shares of company stock worth $598,411. Company insiders own 3.59% of the company’s stock.

Hedge Funds Weigh In On NetScout Systems

Several institutional investors have recently modified their holdings of NTCT. NorthCrest Asset Manangement LLC boosted its stake in NetScout Systems by 3.5% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 15,627 shares of the technology company’s stock worth $340,000 after acquiring an additional 527 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in NetScout Systems by 24.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,053,606 shares of the technology company’s stock worth $22,916,000 after purchasing an additional 207,171 shares during the period. Everence Capital Management Inc. bought a new position in shares of NetScout Systems during the third quarter worth $236,000. Creative Planning increased its position in shares of NetScout Systems by 27.3% in the 3rd quarter. Creative Planning now owns 44,497 shares of the technology company’s stock valued at $968,000 after buying an additional 9,551 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its position in shares of NetScout Systems by 12.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 69,795 shares of the technology company’s stock valued at $1,518,000 after buying an additional 7,918 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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.