NetScout Systems (NASDAQ:NTCT) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of NetScout Systems (NASDAQ:NTCT) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday morning.

NetScout Systems Stock Down 1.6 %

NASDAQ NTCT opened at $20.04 on Wednesday. The stock’s 50-day moving average price is $19.04 and its 200-day moving average price is $20.42. The company has a quick ratio of 1.67, a current ratio of 1.54 and a debt-to-equity ratio of 0.05. NetScout Systems has a 52 week low of $17.10 and a 52 week high of $30.37. The company has a market capitalization of $1.43 billion, a P/E ratio of -9.54 and a beta of 0.60.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.12 by $0.16. NetScout Systems had a positive return on equity of 5.35% and a negative net margin of 74.02%. The firm had revenue of $174.60 million for the quarter, compared to the consensus estimate of $168.47 million. During the same quarter last year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was down 17.3% compared to the same quarter last year. On average, equities research analysts predict that NetScout Systems will post 1.34 earnings per share for the current year.

Insider Transactions at NetScout Systems

In related news, COO Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $20.41, for a total transaction of $102,050.00. Following the sale, the chief operating officer now owns 21,084 shares of the company’s stock, valued at approximately $430,324.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.59% of the company’s stock.

Institutional Trading of NetScout Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in NetScout Systems by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 9,230,849 shares of the technology company’s stock valued at $201,602,000 after purchasing an additional 223,975 shares during the period. First Trust Advisors LP raised its stake in NetScout Systems by 73.0% during the 4th quarter. First Trust Advisors LP now owns 4,429,158 shares of the technology company’s stock valued at $97,220,000 after purchasing an additional 1,869,529 shares during the period. Charles Schwab Investment Management Inc. increased its stake in NetScout Systems by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 977,483 shares of the technology company’s stock worth $21,456,000 after acquiring an additional 60,772 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in NetScout Systems by 74.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 846,435 shares of the technology company’s stock worth $15,481,000 after acquiring an additional 361,245 shares during the last quarter. Finally, Norges Bank bought a new stake in NetScout Systems in the 4th quarter worth approximately $10,184,000. Institutional investors own 91.64% of the company’s stock.

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.