Zacks Investment Research cut shares of NetScout Systems, Inc. (NASDAQ:NTCT) from a buy rating to a sell rating in a research report released on Thursday morning.

According to Zacks, “NetScout Systems, Inc. is a leading provider of business assurance – a powerful combination of service assurance, cybersecurity, and business intelligence solutions – for today’s most demanding service provider, enterprise and government networks. NETSCOUT’s Adaptive Service Intelligence (ASI) technology continuously monitors the service delivery environment to identify performance issues and provides insight into network-based security threats, helping teams to quickly resolve issues that can cause business disruptions or impact user experience. NETSCOUT delivers unmatched service visibility and protects the digital infrastructure that supports our connected world. “

Several other research analysts have also weighed in on the company. Royal Bank Of Canada reissued a hold rating and issued a $33.00 price objective on shares of NetScout Systems in a research report on Friday, October 27th. B. Riley reissued a buy rating and issued a $36.00 price objective on shares of NetScout Systems in a research report on Friday, October 27th. Craig Hallum decreased their target price on NetScout Systems from $30.00 to $28.00 and set a hold rating for the company in a research report on Thursday, October 26th. KeyCorp reaffirmed a hold rating on shares of NetScout Systems in a research report on Wednesday, October 11th. Finally, BidaskClub lowered NetScout Systems from a hold rating to a sell rating in a research report on Friday, August 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $33.00.

NetScout Systems (NTCT) traded up $0.45 during mid-day trading on Thursday, hitting $29.10. The stock had a trading volume of 853,507 shares, compared to its average volume of 1,035,673. The company has a current ratio of 1.60, a quick ratio of 1.51 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2,605.56, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.74 and a beta of 1.57.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.03. NetScout Systems had a return on equity of 5.15% and a net margin of 1.52%. The firm had revenue of $256.90 million during the quarter, compared to analyst estimates of $251.13 million. During the same period last year, the company posted $0.39 EPS. The business’s quarterly revenue was down 5.6% on a year-over-year basis. research analysts forecast that NetScout Systems will post 1.59 earnings per share for the current year.

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NetScout Systems announced that its Board of Directors has approved a share repurchase plan on Thursday, October 26th that permits the company to repurchase 25,000,000 shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, insider Michael Szabados sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $28.19, for a total value of $140,950.00. Following the completion of the sale, the insider now directly owns 43,424 shares of the company’s stock, valued at approximately $1,224,122.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Downing sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $28.17, for a total value of $84,510.00. Following the completion of the sale, the executive vice president now directly owns 88,821 shares of the company’s stock, valued at $2,502,087.57. The disclosure for this sale can be found here. Insiders own 3.51% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Seven Bridges Advisors LLC bought a new stake in NetScout Systems during the 2nd quarter worth approximately $109,000. Bank of Montreal Can increased its holdings in NetScout Systems by 8.9% during the 2nd quarter. Bank of Montreal Can now owns 3,311 shares of the technology company’s stock worth $113,000 after purchasing an additional 271 shares in the last quarter. Flinton Capital Management LLC increased its holdings in NetScout Systems by 74.5% during the 2nd quarter. Flinton Capital Management LLC now owns 4,608 shares of the technology company’s stock worth $158,000 after purchasing an additional 1,968 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in NetScout Systems by 77.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,158 shares of the technology company’s stock worth $177,000 after purchasing an additional 2,258 shares in the last quarter. Finally, First Allied Advisory Services Inc. increased its holdings in NetScout Systems by 515.1% during the 2nd quarter. First Allied Advisory Services Inc. now owns 5,911 shares of the technology company’s stock worth $200,000 after purchasing an additional 4,950 shares in the last quarter.

NetScout Systems Company 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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