Turtle Creek Equity Fund Owns Stake in NetScout Systems, Inc. (NTCT)
Turtle Creek Equity Fund
revealed that they own a 5.6% stake in NetScout Systems, Inc. (NASDAQ:NTCT) in a Schedule 13G disclosure that was filed with the SEC on Friday, January 19th. The investor owns 4,890,951 shares of the stock worth $132,055,677. The filing is available through Edgar at this hyperlink.
Several brokerages recently commented on NTCT. KeyCorp reaffirmed a “hold” rating on shares of NetScout Systems in a research report on Wednesday, October 11th. Royal Bank of Canada reissued a “hold” rating and issued a $35.00 price objective on shares of NetScout Systems in a research report on Tuesday, October 10th. BidaskClub lowered shares of NetScout Systems from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Zacks Investment Research raised shares of NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Finally, Craig Hallum set a $23.00 price objective on shares of NetScout Systems and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $29.67.
NetScout Systems, Inc. (NASDAQ:NTCT) traded up $0.23 during trading on Friday, hitting $27.00. 1,328,894 shares of the stock traded hands, compared to its average volume of 1,925,169. NetScout Systems, Inc. has a 52 week low of $25.75 and a 52 week high of $38.47. The firm has a market capitalization of $2,313.59, a price-to-earnings ratio of 158.83, a P/E/G ratio of 2.64 and a beta of 1.60. The company has a quick ratio of 1.51, a current ratio of 1.60 and a debt-to-equity ratio of 0.14.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. NetScout Systems had a net margin of 1.52% and a return on equity of 5.15%. The company had revenue of $256.90 million during the quarter, compared to analyst estimates of $251.13 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. sell-side analysts forecast that NetScout Systems, Inc. will post 1 earnings per share for the current fiscal year.
NetScout Systems declared that its Board of Directors has authorized a stock 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. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, insider Michael Szabados sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $28.19, for a total value of $140,950.00. Following the completion of the transaction, the insider now directly owns 43,424 shares in the company, valued at $1,224,122.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Downing sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $28.17, for a total transaction of $84,510.00. Following the completion of the transaction, the executive vice president now owns 88,821 shares of the company’s stock, valued at $2,502,087.57. The disclosure for this sale can be found here. 3.51% of the stock is owned by corporate insiders.
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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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