Piper Jaffray Companies downgraded shares of NetScout Systems (NASDAQ:NTCT) from a neutral rating to an underweight rating in a report issued on Friday morning, The Fly reports. Piper Jaffray Companies currently has $20.00 target price on the technology company’s stock, down from their previous target price of $25.00.
A number of other brokerages have also weighed in on NTCT. Zacks Investment Research raised NetScout Systems from a sell rating to a hold rating in a report on Wednesday, July 3rd. BidaskClub lowered NetScout Systems from a hold rating to a sell rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $26.50.
Shares of NASDAQ NTCT traded down $0.24 during midday trading on Friday, reaching $21.99. 569,201 shares of the company were exchanged, compared to its average volume of 548,059. The company has a current ratio of 1.93, a quick ratio of 1.86 and a debt-to-equity ratio of 0.28. NetScout Systems has a 1 year low of $20.94 and a 1 year high of $30.30. The stock has a fifty day simple moving average of $22.72 and a 200 day simple moving average of $25.26. The stock has a market cap of $1.67 billion, a P/E ratio of 25.36 and a beta of 1.36.
NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.07. NetScout Systems had a positive return on equity of 3.35% and a negative net margin of 4.51%. The company had revenue of $186.10 million for the quarter, compared to analyst estimates of $196.98 million. During the same quarter in the previous year, the company earned $0.03 EPS. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, analysts forecast that NetScout Systems will post 0.93 earnings per share for the current year.
In other news, EVP John Downing sold 3,000 shares of NetScout Systems stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $22.03, for a total transaction of $66,090.00. Following the completion of the sale, the executive vice president now directly owns 105,854 shares in the company, valued at approximately $2,331,963.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael Szabados sold 6,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $22.42, for a total transaction of $134,520.00. Following the sale, the chief operating officer now owns 61,093 shares of the company’s stock, valued at $1,369,705.06. The disclosure for this sale can be found here. 4.06% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of NetScout Systems by 1.6% during the 2nd quarter. Northern Trust Corp now owns 1,469,811 shares of the technology company’s stock valued at $37,319,000 after acquiring an additional 23,053 shares during the period. Macquarie Group Ltd. lifted its position in shares of NetScout Systems by 7.7% during the 2nd quarter. Macquarie Group Ltd. now owns 1,385,553 shares of the technology company’s stock valued at $35,179,000 after acquiring an additional 98,763 shares during the period. First Trust Advisors LP lifted its position in shares of NetScout Systems by 8.7% during the 1st quarter. First Trust Advisors LP now owns 1,054,488 shares of the technology company’s stock valued at $29,599,000 after acquiring an additional 84,761 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of NetScout Systems by 28.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 849,172 shares of the technology company’s stock valued at $21,561,000 after acquiring an additional 185,984 shares during the period. Finally, Investment Counselors of Maryland LLC lifted its position in shares of NetScout Systems by 1.2% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 843,022 shares of the technology company’s stock valued at $21,404,000 after acquiring an additional 9,754 shares during the period. Institutional investors own 99.67% of the company’s stock.
About NetScout Systems
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.
Further Reading: Front-End Load
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