Northern Trust Corp Has $59.27 Million Stake in NetScout Systems, Inc. (NTCT)
Northern Trust Corp grew its stake in NetScout Systems, Inc. (NASDAQ:NTCT) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,723,038 shares of the technology company’s stock after acquiring an additional 25,910 shares during the period. Northern Trust Corp owned 1.89% of NetScout Systems worth $59,272,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Amalgamated Bank grew its holdings in shares of NetScout Systems by 0.5% in the 2nd quarter. Amalgamated Bank now owns 12,678 shares of the technology company’s stock valued at $436,000 after acquiring an additional 59 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of NetScout Systems by 1.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 19,841 shares of the technology company’s stock valued at $754,000 after acquiring an additional 226 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of NetScout Systems by 8.9% in the 2nd quarter. Bank of Montreal Can now owns 3,311 shares of the technology company’s stock valued at $113,000 after acquiring an additional 271 shares in the last quarter. Capstone Asset Management Co. grew its holdings in shares of NetScout Systems by 4.3% in the 2nd quarter. Capstone Asset Management Co. now owns 6,786 shares of the technology company’s stock valued at $233,000 after acquiring an additional 280 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of NetScout Systems by 5.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,960 shares of the technology company’s stock valued at $239,000 after acquiring an additional 363 shares in the last quarter.
NTCT has been the subject of a number of research analyst reports. B. Riley reiterated a “buy” rating and set a $44.00 price target on shares of NetScout Systems in a report on Friday, July 28th. BidaskClub upgraded NetScout Systems from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of NetScout Systems in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. NetScout Systems currently has an average rating of “Hold” and a consensus target price of $39.50.
Shares of NetScout Systems, Inc. (NTCT) opened at 32.55 on Thursday. NetScout Systems, Inc. has a one year low of $26.25 and a one year high of $38.47. The company has a market cap of $2.91 billion, a PE ratio of 165.23 and a beta of 1.60. The stock’s 50 day moving average price is $32.61 and its 200-day moving average price is $34.93.
NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.08 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. The firm had revenue of $225.80 million during the quarter, compared to analyst estimates of $225.66 million. NetScout Systems had a net margin of 1.60% and a return on equity of 5.53%. The company’s revenue for the quarter was down 16.1% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. On average, analysts expect that NetScout Systems, Inc. will post $2.06 EPS for the current year.
In other news, insider Michael Szabados sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $34.60, for a total transaction of $173,000.00. Following the completion of the transaction, the insider now directly owns 39,170 shares of the company’s stock, valued at approximately $1,355,282. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.51% of the stock is owned by corporate insiders.
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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