Retirement Systems of Alabama Has $14,484,000 Position in NetScout Systems Inc. (NTCT)
Retirement Systems of Alabama cut its stake in shares of NetScout Systems Inc. (NASDAQ:NTCT) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 650,944 shares of the company’s stock after selling 6,157 shares during the period. Retirement Systems of Alabama owned about 0.69% of NetScout Systems worth $14,484,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of NTCT. Adirondack Research & Management Inc. purchased a new stake in shares of NetScout Systems during the first quarter valued at $1,742,000. Geode Capital Management LLC increased its stake in shares of NetScout Systems by 3.2% in the first quarter. Geode Capital Management LLC now owns 659,890 shares of the company’s stock valued at $15,157,000 after buying an additional 20,168 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of NetScout Systems by 88.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,602,096 shares of the company’s stock valued at $36,800,000 after buying an additional 751,711 shares during the last quarter. Rockshelter Capital Management LLC increased its stake in shares of NetScout Systems by 28.6% in the first quarter. Rockshelter Capital Management LLC now owns 309,172 shares of the company’s stock valued at $7,102,000 after buying an additional 68,800 shares during the last quarter. Finally, State Street Corp increased its stake in shares of NetScout Systems by 6.1% in the first quarter. State Street Corp now owns 3,165,602 shares of the company’s stock valued at $72,708,000 after buying an additional 182,648 shares during the last quarter. 98.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of NetScout Systems Inc. (NASDAQ:NTCT) traded up 0.90% during mid-day trading on Friday, hitting $29.25. 735,498 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $29.14 and a 200-day moving average price of $24.98. NetScout Systems Inc. has a 1-year low of $18.77 and a 1-year high of $40.28. The stock’s market cap is $2.69 billion.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. NetScout Systems had a negative net margin of 4.01% and a positive return on equity of 5.80%. The company had revenue of $269 million for the quarter, compared to analyst estimates of $273.47 million. During the same quarter last year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 167.1% compared to the same quarter last year. Equities research analysts anticipate that NetScout Systems Inc. will post $1.93 EPS for the current fiscal year.
A number of research firms recently commented on NTCT. Zacks Investment Research raised shares of NetScout Systems from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Wednesday. Pacific Crest reissued a “buy” rating on shares of NetScout Systems in a report on Monday, September 12th. Finally, B. Riley reissued a “buy” rating and set a $34.00 price objective on shares of NetScout Systems in a report on Friday, July 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. NetScout Systems presently has a consensus rating of “Buy” and a consensus target price of $31.63.
In other news, COO Michael Szabados sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $27.64, for a total value of $138,200.00. Following the sale, the chief operating officer now owns 35,526 shares in the company, valued at $981,938.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Downing sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $27.48, for a total transaction of $27,480.00. Following the completion of the sale, the executive vice president now owns 100,989 shares in the company, valued at approximately $2,775,177.72. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by insiders.
About NetScout Systems
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.
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