CIBC Private Wealth Group LLC Has $30.85 Million Stock Holdings in NetScout Systems, Inc. (NASDAQ:NTCT)

CIBC Private Wealth Group LLC grew its position in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,417,716 shares of the technology company’s stock after acquiring an additional 5,176 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in NetScout Systems were worth $30,850,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in NetScout Systems by 4.4% during the third quarter. Geode Capital Management LLC now owns 1,929,551 shares of the technology company’s stock worth $41,975,000 after purchasing an additional 81,154 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of NetScout Systems by 55.0% during the 4th quarter. Victory Capital Management Inc. now owns 80,507 shares of the technology company’s stock worth $1,744,000 after buying an additional 28,583 shares during the last quarter. Citigroup Inc. grew its holdings in shares of NetScout Systems by 28.4% in the 3rd quarter. Citigroup Inc. now owns 163,272 shares of the technology company’s stock valued at $3,551,000 after acquiring an additional 36,075 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of NetScout Systems in the third quarter valued at about $1,783,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in NetScout Systems by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,251,156 shares of the technology company’s stock worth $27,100,000 after acquiring an additional 85,713 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NTCT shares. Royal Bank of Canada raised their price target on NetScout Systems from $22.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. StockNews.com upgraded shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 10th.

NetScout Systems Stock Down 0.9 %

Shares of NTCT stock opened at $21.01 on Tuesday. NetScout Systems, Inc. has a 52-week low of $17.10 and a 52-week high of $27.89. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -3.59 and a beta of 0.64. The firm’s 50-day moving average is $22.67 and its 200-day moving average is $21.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.81.

NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Thursday, January 30th. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. Sell-side analysts predict that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Insider Buying and Selling at NetScout Systems

In other news, insider Jean A. Bua sold 11,999 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $23.92, for a total transaction of $287,016.08. Following the completion of the sale, the insider now owns 71,361 shares in the company, valued at approximately $1,706,955.12. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michael Szabados sold 6,500 shares of NetScout Systems stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $23.47, for a total transaction of $152,555.00. Following the sale, the chief operating officer now directly owns 35,989 shares of the company’s stock, valued at $844,661.83. The trade was a 15.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,499 shares of company stock valued at $512,321 in the last quarter. 3.71% of the stock is currently owned by insiders.

NetScout Systems 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.