NetScout Systems, Inc. (NASDAQ:NTCT) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 17.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,495 shares of the technology company’s stock after purchasing an additional 508 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NetScout Systems were worth $76,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Inceptionr LLC purchased a new stake in NetScout Systems during the 4th quarter worth approximately $221,000. Victory Capital Management Inc. grew its holdings in shares of NetScout Systems by 55.0% during the fourth quarter. Victory Capital Management Inc. now owns 80,507 shares of the technology company’s stock valued at $1,744,000 after buying an additional 28,583 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of NetScout Systems by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,251,156 shares of the technology company’s stock valued at $27,100,000 after acquiring an additional 85,713 shares during the period. Impax Asset Management Group plc raised its stake in NetScout Systems by 15.2% in the 4th quarter. Impax Asset Management Group plc now owns 570,000 shares of the technology company’s stock worth $12,346,000 after acquiring an additional 75,000 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in NetScout Systems by 187.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 32,692 shares of the technology company’s stock worth $708,000 after acquiring an additional 21,320 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NetScout Systems

In related news, EVP John Downing sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $24.25, for a total value of $72,750.00. Following the completion of the transaction, the executive vice president now owns 130,352 shares of the company’s stock, valued at approximately $3,161,036. This represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Szabados sold 6,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 35,989 shares in the company, valued at approximately $844,661.83. The trade was a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,499 shares of company stock valued at $512,321. 3.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NTCT shares. Royal Bank of Canada increased their price objective on NetScout Systems from $22.00 to $25.00 and gave the company a “sector perform” rating in a report 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 Trading Down 0.5 %

Shares of NetScout Systems stock opened at $21.74 on Wednesday. The stock has a market cap of $1.56 billion, a PE ratio of -3.71 and a beta of 0.64. The firm has a fifty day moving average price of $22.73 and a 200 day moving average price of $21.91. NetScout Systems, Inc. has a 1 year low of $17.10 and a 1 year high of $27.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.78.

NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Thursday, January 30th. The technology company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts predict that NetScout Systems, Inc. will post 1.5 earnings per share for the current year.

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.