Bank of New York Mellon Corp Has $11.48 Million Position in NetScout Systems, Inc. (NASDAQ:NTCT)

Bank of New York Mellon Corp cut its holdings in NetScout Systems, Inc. (NASDAQ:NTCT) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 529,999 shares of the technology company’s stock after selling 19,618 shares during the quarter. Bank of New York Mellon Corp owned about 0.74% of NetScout Systems worth $11,480,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in NetScout Systems by 224,935.8% during the third quarter. Pacer Advisors Inc. now owns 2,056,827 shares of the technology company’s stock valued at $44,736,000 after buying an additional 2,055,913 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of NetScout Systems by 66.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 446,387 shares of the technology company’s stock valued at $9,709,000 after acquiring an additional 178,269 shares during the last quarter. Barclays PLC raised its stake in shares of NetScout Systems by 102.9% in the 3rd quarter. Barclays PLC now owns 276,463 shares of the technology company’s stock valued at $6,013,000 after acquiring an additional 140,237 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in NetScout Systems by 32.0% in the 3rd quarter. Impax Asset Management Group plc now owns 495,000 shares of the technology company’s stock worth $10,766,000 after purchasing an additional 120,000 shares during the last quarter. Finally, State Street Corp boosted its position in NetScout Systems by 3.7% during the third quarter. State Street Corp now owns 3,098,279 shares of the technology company’s stock worth $67,388,000 after purchasing an additional 109,569 shares during the period. 91.64% of the stock is owned by institutional investors.

NetScout Systems Price Performance

Shares of NASDAQ:NTCT opened at $20.47 on Friday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -3.49 and a beta of 0.64. The business has a 50 day moving average price of $22.80 and a 200 day moving average price of $21.88. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 0.05. NetScout Systems, Inc. has a twelve month low of $17.10 and a twelve month high of $27.89.

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

Insider Transactions at NetScout Systems

In other news, EVP John Downing sold 3,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $24.25, for a total value of $72,750.00. Following the transaction, the executive vice president now owns 130,352 shares of the company’s stock, valued at $3,161,036. This represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jean A. Bua sold 11,999 shares of NetScout Systems stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $23.92, for a total value of $287,016.08. Following the sale, the insider now directly owns 71,361 shares of the company’s stock, valued at approximately $1,706,955.12. This trade represents a 14.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,499 shares of company stock worth $512,321. 3.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.