State of New Jersey Common Pension Fund D Decreases Stock Holdings in NetScout Systems, Inc. (NASDAQ:NTCT)

State of New Jersey Common Pension Fund D decreased its position in NetScout Systems, Inc. (NASDAQ:NTCTGet Rating) by 9.9% during the first quarter, Holdings Channel.com reports. The fund owned 82,346 shares of the technology company’s stock after selling 9,051 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in NetScout Systems were worth $2,642,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Eaton Vance Management increased its position in shares of NetScout Systems by 51.7% during the fourth quarter. Eaton Vance Management now owns 3,875 shares of the technology company’s stock valued at $59,000 after buying an additional 1,321 shares during the period. Econ Financial Services Corp purchased a new position in shares of NetScout Systems during the first quarter valued at about $63,000. Daiwa Securities Group Inc. increased its position in shares of NetScout Systems by 28.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,929 shares of the technology company’s stock valued at $97,000 after buying an additional 642 shares during the period. Commonwealth Equity Services LLC purchased a new position in shares of NetScout Systems during the fourth quarter valued at about $225,000. Finally, Inspire Investing LLC purchased a new position in shares of NetScout Systems during the first quarter valued at about $236,000. Hedge funds and other institutional investors own 93.67% of the company’s stock.

Analyst Upgrades and Downgrades

NTCT has been the topic of several research analyst reports. StockNews.com cut shares of NetScout Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 27th. Piper Sandler cut shares of NetScout Systems from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $35.00 to $33.00 in a research report on Tuesday, May 31st.

NetScout Systems Trading Up 1.1 %

NASDAQ:NTCT opened at $35.58 on Monday. NetScout Systems, Inc. has a one year low of $26.01 and a one year high of $37.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.94 and a quick ratio of 1.88. The company’s 50-day simple moving average is $34.12 and its 200 day simple moving average is $32.62. The firm has a market capitalization of $2.54 billion, a P/E ratio of 71.16, a PEG ratio of 4.95 and a beta of 0.60.

NetScout Systems (NASDAQ:NTCTGet Rating) last issued its earnings results on Thursday, May 5th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. The firm had revenue of $191.20 million for the quarter, compared to the consensus estimate of $189.50 million. NetScout Systems had a net margin of 4.32% and a return on equity of 4.66%. The business’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. As a group, analysts forecast that NetScout Systems, Inc. will post 1.35 EPS for the current fiscal year.

NetScout Systems Company Profile

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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.

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Institutional Ownership by Quarter for NetScout Systems (NASDAQ:NTCT)

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