NetScout Systems (NASDAQ:NTCT) Sets New 12-Month High on Strong Earnings

NetScout Systems, Inc. (NASDAQ:NTCT - Get Free Report)'s share price reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $27.89 and last traded at $26.71, with a volume of 126487 shares changing hands. The stock had previously closed at $22.35.

The technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports 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 company a "sector perform" rating in a report on Friday. StockNews.com upgraded shares of NetScout Systems from a "buy" rating to a "strong-buy" rating in a report on Tuesday, December 10th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NTCT. Pacer Advisors Inc. boosted its holdings in shares of NetScout Systems by 224,935.8% in 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 during the period. Assenagon Asset Management S.A. lifted its position in shares of NetScout Systems by 24.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,053,606 shares of the technology company's stock worth $22,916,000 after purchasing an additional 207,171 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of NetScout Systems by 66.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 446,387 shares of the technology company's stock worth $9,709,000 after purchasing an additional 178,269 shares in the last quarter. Barclays PLC lifted its position in shares of NetScout Systems by 102.9% in the third quarter. Barclays PLC now owns 276,463 shares of the technology company's stock worth $6,013,000 after purchasing an additional 140,237 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of NetScout Systems by 71.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 305,454 shares of the technology company's stock worth $6,644,000 after purchasing an additional 127,200 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

NetScout Systems Stock Performance

The stock's 50-day moving average price is $22.19 and its 200 day moving average price is $21.15. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.78. The firm has a market cap of $1.72 billion, a P/E ratio of -4.10 and a beta of 0.60.

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.