Wedge Capital Management L L P NC Raises Holdings in NetScout Systems, Inc. (NASDAQ:NTCT)

Wedge Capital Management L L P NC boosted its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 12.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,795 shares of the technology company’s stock after acquiring an additional 7,918 shares during the quarter. Wedge Capital Management L L P NC owned 0.10% of NetScout Systems worth $1,518,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of NetScout Systems by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 9,006,874 shares of the technology company’s stock valued at $197,701,000 after acquiring an additional 194,962 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of NetScout Systems by 35.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,098 shares of the technology company’s stock valued at $90,000 after buying an additional 1,062 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in NetScout Systems in the 4th quarter valued at $256,000. BNP Paribas Financial Markets increased its holdings in NetScout Systems by 57.8% in the 1st quarter. BNP Paribas Financial Markets now owns 53,664 shares of the technology company’s stock worth $1,172,000 after acquiring an additional 19,665 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its position in NetScout Systems by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 62,169 shares of the technology company’s stock worth $1,358,000 after acquiring an additional 839 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NetScout Systems

In other NetScout Systems news, COO Michael Szabados sold 6,500 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $18.81, for a total transaction of $122,265.00. Following the transaction, the chief operating officer now owns 43,434 shares of the company’s stock, valued at approximately $816,993.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP John Downing sold 4,247 shares of NetScout Systems stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $20.00, for a total transaction of $84,940.00. Following the sale, the executive vice president now owns 131,590 shares of the company’s stock, valued at approximately $2,631,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Szabados sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $18.81, for a total value of $122,265.00. Following the completion of the transaction, the chief operating officer now owns 43,434 shares in the company, valued at $816,993.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,952 shares of company stock valued at $598,411. 3.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NTCT shares. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 target price on shares of NetScout Systems in a research note on Friday, July 26th. StockNews.com cut NetScout Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 24th.

NetScout Systems Price Performance

NetScout Systems stock opened at $21.70 on Thursday. The company has a fifty day simple moving average of $20.52 and a 200-day simple moving average of $19.83. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -10.33 and a beta of 0.58. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 0.05. NetScout Systems, Inc. has a 52-week low of $17.10 and a 52-week high of $24.42.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.16. The firm had revenue of $174.60 million for the quarter, compared to analyst estimates of $168.47 million. NetScout Systems had a negative net margin of 74.02% and a positive return on equity of 5.35%. NetScout Systems’s quarterly revenue was down 17.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. On average, equities analysts anticipate that NetScout Systems, Inc. will post 1.39 EPS for the current fiscal year.

NetScout Systems Company Profile

NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions 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.