NetScout Systems, Inc. (NTCT) Position Cut by CIBC Private Wealth Group LLC
CIBC Private Wealth Group LLC reduced its position in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,596,666 shares of the technology company’s stock after selling 215,474 shares during the period. CIBC Private Wealth Group LLC owned 5.92% of NetScout Systems worth $108,619,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quantamental Technologies LLC purchased a new position in shares of NetScout Systems in the fourth quarter valued at approximately $74,000. First Mercantile Trust Co. boosted its stake in shares of NetScout Systems by 38.5% in the third quarter. First Mercantile Trust Co. now owns 7,660 shares of the technology company’s stock valued at $193,000 after purchasing an additional 2,130 shares during the period. Dupont Capital Management Corp purchased a new position in shares of NetScout Systems in the fourth quarter valued at approximately $184,000. OLD National Bancorp IN purchased a new position in shares of NetScout Systems in the third quarter valued at approximately $365,000. Finally, US Bancorp DE boosted its stake in shares of NetScout Systems by 175.5% in the third quarter. US Bancorp DE now owns 14,536 shares of the technology company’s stock valued at $367,000 after purchasing an additional 9,260 shares during the period.
Several research firms have recently commented on NTCT. Zacks Investment Research lowered shares of NetScout Systems from a “buy” rating to a “sell” rating in a research note on Thursday. ValuEngine downgraded shares of NetScout Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Lake Street Capital set a $33.00 price target on shares of NetScout Systems and gave the stock a “buy” rating in a research note on Wednesday, December 26th. Craig Hallum set a $25.00 price target on shares of NetScout Systems and gave the stock a “hold” rating in a research note on Thursday, November 1st. Finally, BidaskClub upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research note on Saturday, October 27th. One research analyst has 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 an average rating of “Hold” and an average price target of $29.25.
Shares of NetScout Systems stock opened at $26.56 on Monday. NetScout Systems, Inc. has a 52-week low of $21.58 and a 52-week high of $31.77. The company has a quick ratio of 2.00, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $2.07 billion, a P/E ratio of 26.83, a PEG ratio of 3.30 and a beta of 1.31.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. NetScout Systems had a negative net margin of 8.32% and a positive return on equity of 2.09%. The company had revenue of $246.00 million during the quarter, compared to the consensus estimate of $237.17 million. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. On average, equities research analysts anticipate that NetScout Systems, Inc. will post 0.81 EPS for the current fiscal year.
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NetScout Systems Company Profile
NetScout Systems, Inc provides real-time operational intelligence and performance analytics for digital business services against disruptions in availability, performance, and security in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.
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