Zacks Investment Research cut shares of Forescout Technologies (NASDAQ:FSCT) from a buy rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “ForeScout Technologies, Inc. provides network security hardware and software products primarily in the United States, Europe, the Middle East, Africa, the Asia Pacific and Japan. Its products include CounterACT Platform, CounterACT Models, Extended Integration Modules, Open Integration Module and Other Products. The Company’s solutions include Network Access Control; Endpoint Compliance; Bring Your Own Device & Mobile Security for Enterprise; Vulnerability Management, Policy and Solutions and Advanced Network Threat Prevention and Cyber Defense Solutions. ForeScout Technologies, Inc. is headquartered in San Jose, California. “

A number of other equities analysts have also recently issued reports on the company. ValuEngine upgraded Forescout Technologies from a hold rating to a buy rating in a report on Tuesday. Needham & Company LLC assumed coverage on Forescout Technologies in a report on Friday, September 21st. They issued a buy rating and a $47.00 price objective for the company. UBS Group upped their price objective on Forescout Technologies from $40.00 to $42.00 and gave the stock a buy rating in a report on Friday, August 10th. JPMorgan Chase & Co. upped their price objective on Forescout Technologies to $46.00 and gave the stock an overweight rating in a report on Friday, August 10th. Finally, Citigroup upped their price objective on Forescout Technologies from $33.00 to $38.00 and gave the stock a neutral rating in a report on Tuesday, July 24th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Forescout Technologies presently has a consensus rating of Buy and an average target price of $39.10.

Shares of FSCT traded up $0.49 during midday trading on Wednesday, reaching $30.33. The stock had a trading volume of 318,247 shares, compared to its average volume of 494,123. Forescout Technologies has a 12-month low of $21.56 and a 12-month high of $40.96. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.58 billion and a P/E ratio of -3.82.

Forescout Technologies (NASDAQ:FSCT) last posted its quarterly earnings data on Thursday, August 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.19. The firm had revenue of $67.59 million during the quarter, compared to analysts’ expectations of $63.57 million. During the same quarter in the previous year, the company posted ($2.31) earnings per share. Forescout Technologies’s revenue for the quarter was up 35.2% compared to the same quarter last year. On average, equities research analysts predict that Forescout Technologies will post -0.95 EPS for the current year.

In related news, CEO Michael Decesare sold 10,198 shares of the stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $34.80, for a total transaction of $354,890.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Enrique T. Salem sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $34.34, for a total value of $103,020.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,180,176 shares of company stock valued at $43,623,256 over the last 90 days. 36.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HarbourVest Partners LLC purchased a new stake in Forescout Technologies in the 2nd quarter worth approximately $2,086,000. Cubist Systematic Strategies LLC lifted its holdings in Forescout Technologies by 51.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,520 shares of the company’s stock worth $326,000 after buying an additional 3,241 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in Forescout Technologies in the 2nd quarter worth approximately $140,000. Ontario Teachers Pension Plan Board purchased a new stake in Forescout Technologies in the 2nd quarter worth approximately $307,000. Finally, Barclays PLC lifted its holdings in Forescout Technologies by 1,951.7% in the 1st quarter. Barclays PLC now owns 35,843 shares of the company’s stock worth $1,164,000 after buying an additional 34,096 shares during the period. Institutional investors and hedge funds own 54.40% of the company’s stock.

Forescout Technologies Company Profile

ForeScout Technologies, Inc provides network security products in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It offers ForeScout CounterACT agentless technology that discovers, classifies, and assesses IP-based devices; ForeScout extended modules, which represent integrations across vulnerability assessment, advanced threat detection, security incidence and event management, enterprise mobility management, endpoint protection and endpoint detection and response, next generation firewall, privileged access management, and IT systems management vendors, as well as compliance; and ForeScout CounterACT Enterprise Manager, a centralized security management solution for the control of various appliances deployed on an end-customer network, as well as maintenance and professional services.

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