Neuberger Berman Group LLC Sells 263,048 Shares of NetScout Systems, Inc. (NTCT)
Neuberger Berman Group LLC lowered its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,309,934 shares of the technology company’s stock after selling 263,048 shares during the period. Neuberger Berman Group LLC owned approximately 9.11% of NetScout Systems worth $285,862,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in NTCT. BlackRock Inc. increased its stake in NetScout Systems by 9,990.2% in the first quarter. BlackRock Inc. now owns 10,120,265 shares of the technology company’s stock valued at $384,064,000 after buying an additional 10,019,967 shares during the period. Dimensional Fund Advisors LP increased its stake in NetScout Systems by 28.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,141,660 shares of the technology company’s stock valued at $119,226,000 after buying an additional 693,589 shares during the period. ValueAct Holdings L.P. increased its stake in NetScout Systems by 39.8% in the first quarter. ValueAct Holdings L.P. now owns 2,300,000 shares of the technology company’s stock valued at $87,285,000 after buying an additional 655,000 shares during the period. Credit Suisse AG increased its stake in NetScout Systems by 666.0% in the first quarter. Credit Suisse AG now owns 694,890 shares of the technology company’s stock valued at $26,371,000 after buying an additional 604,179 shares during the period. Finally, P2 Capital Partners LLC increased its stake in NetScout Systems by 29.3% in the first quarter. P2 Capital Partners LLC now owns 2,528,064 shares of the technology company’s stock valued at $95,940,000 after buying an additional 573,256 shares during the period.
Shares of NetScout Systems, Inc. (NTCT) traded down 0.15% during midday trading on Friday, hitting $32.65. 447,250 shares of the stock were exchanged. NetScout Systems, Inc. has a 52-week low of $26.25 and a 52-week high of $38.48. The firm’s 50 day moving average price is $33.83 and its 200-day moving average price is $35.83. The stock has a market cap of $2.92 billion, a P/E ratio of 165.74 and a beta of 1.61.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.08. The firm had revenue of $225.80 million for the quarter, compared to analyst estimates of $225.66 million. NetScout Systems had a return on equity of 5.53% and a net margin of 1.60%. The business’s revenue was down 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. On average, equities research analysts expect that NetScout Systems, Inc. will post $2.06 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research raised shares of NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Royal Bank Of Canada reissued a “hold” rating on shares of NetScout Systems in a report on Thursday, July 20th. Finally, B. Riley reissued a “buy” rating and issued a $42.00 price target on shares of NetScout Systems in a report on Friday, May 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.00.
In other news, insider Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $34.60, for a total value of $173,000.00. Following the sale, the insider now directly owns 39,170 shares of the company’s stock, valued at $1,355,282. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.51% of the company’s stock.
About NetScout Systems
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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