Summit Global Investments Takes Position in NetScout Systems, Inc. (NASDAQ:NTCT)

Summit Global Investments bought a new stake in NetScout Systems, Inc. (NASDAQ:NTCT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 33,149 shares of the technology company’s stock, valued at approximately $718,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC raised its holdings in shares of NetScout Systems by 32.1% in the third quarter. FMR LLC now owns 1,964 shares of the technology company’s stock valued at $43,000 after buying an additional 477 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in NetScout Systems by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company’s stock worth $76,000 after purchasing an additional 508 shares in the last quarter. Natixis Advisors LLC raised its holdings in NetScout Systems by 2.2% during the third quarter. Natixis Advisors LLC now owns 28,296 shares of the technology company’s stock worth $615,000 after purchasing an additional 606 shares in the last quarter. New York State Common Retirement Fund raised its holdings in NetScout Systems by 3.4% during the fourth quarter. New York State Common Retirement Fund now owns 23,968 shares of the technology company’s stock worth $519,000 after purchasing an additional 792 shares in the last quarter. Finally, KBC Group NV raised its holdings in NetScout Systems by 52.4% during the third quarter. KBC Group NV now owns 3,100 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,066 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTCT has been the subject of several analyst reports. StockNews.com raised shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Royal Bank of Canada increased their price target on shares of NetScout Systems from $22.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st.

Insider Buying and Selling at NetScout Systems

In other NetScout Systems news, COO Michael Szabados sold 6,500 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $23.47, for a total value of $152,555.00. Following the completion of the transaction, the chief operating officer now directly owns 35,989 shares of the company’s stock, valued at approximately $844,661.83. This trade represents a 15.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Downing sold 3,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $24.25, for a total transaction of $72,750.00. Following the completion of the transaction, the executive vice president now directly owns 130,352 shares of the company’s stock, valued at approximately $3,161,036. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,499 shares of company stock valued at $512,321. Corporate insiders own 3.71% of the company’s stock.

NetScout Systems Trading Down 0.2 %

Shares of NetScout Systems stock opened at $21.39 on Monday. NetScout Systems, Inc. has a 12-month low of $17.10 and a 12-month high of $27.89. The company has a current ratio of 1.81, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.53 billion, a PE ratio of -3.65 and a beta of 0.64. The company has a 50-day moving average of $22.72 and a two-hundred day moving average of $21.89.

NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. NetScout Systems had a negative net margin of 50.90% and a positive return on equity of 6.76%. On average, research analysts anticipate that NetScout Systems, Inc. will post 1.5 EPS for the current fiscal year.

About NetScout Systems

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.