California Public Employees Retirement System reduced its position in NetScout Systems, Inc. (NASDAQ:NTCT) by 41.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,287 shares of the technology company’s stock after selling 265,500 shares during the period. California Public Employees Retirement System owned approximately 0.41% of NetScout Systems worth $12,738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of NetScout Systems by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,226,097 shares of the technology company’s stock valued at $248,578,000 after purchasing an additional 107,494 shares in the last quarter. Northern Trust Corp lifted its stake in shares of NetScout Systems by 1.5% in the 2nd quarter. Northern Trust Corp now owns 1,723,038 shares of the technology company’s stock valued at $59,272,000 after purchasing an additional 25,910 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of NetScout Systems by 3.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 52,519 shares of the technology company’s stock valued at $1,807,000 after purchasing an additional 1,932 shares in the last quarter. Thrivent Financial For Lutherans lifted its stake in shares of NetScout Systems by 7.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 18,510 shares of the technology company’s stock valued at $637,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new position in shares of NetScout Systems in the 2nd quarter valued at about $378,000.

In other NetScout Systems news, insider Michael Szabados sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $34.60, for a total value of $173,000.00. Following the transaction, the insider now directly owns 39,170 shares of the company’s stock, valued at approximately $1,355,282. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.51% of the company’s stock.

Several research firms have recently weighed in on NTCT. B. Riley reaffirmed a “buy” rating and issued a $44.00 price objective on shares of NetScout Systems in a research note on Wednesday, August 2nd. BidaskClub raised NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of NetScout Systems in a research note on Thursday, July 20th. Finally, Zacks Investment Research lowered NetScout Systems from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $39.50.

NetScout Systems, Inc. (NASDAQ NTCT) opened at 32.55 on Thursday. NetScout Systems, Inc. has a 1-year low of $26.25 and a 1-year high of $38.47. The stock has a 50 day moving average price of $32.61 and a 200 day moving average price of $34.93. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 165.23 and a beta of 1.60.

NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. NetScout Systems had a return on equity of 5.53% and a net margin of 1.60%. The company had revenue of $225.80 million for the quarter, compared to analyst estimates of $225.66 million. During the same period in the prior year, the firm posted $0.28 EPS. The business’s revenue was down 16.1% compared to the same quarter last year. Analysts predict that NetScout Systems, Inc. will post $2.06 EPS for the current year.

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NetScout Systems 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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Institutional Ownership by Quarter for NetScout Systems (NASDAQ:NTCT)

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