StockNews.com Upgrades NetScout Systems (NASDAQ:NTCT) to “Strong-Buy”

NetScout Systems (NASDAQ:NTCT) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.

NetScout Systems Trading Up 2.0 %

NetScout Systems stock traded up $0.45 during trading hours on Tuesday, hitting $22.77. The stock had a trading volume of 871,652 shares, compared to its average volume of 618,009. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -2.71 and a beta of 0.58. The company has a quick ratio of 1.63, a current ratio of 1.68 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $21.60 and its 200-day simple moving average is $20.25. NetScout Systems has a one year low of $17.10 and a one year high of $24.42.

Insiders Place Their Bets

In other news, COO Michael Szabados sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $21.32, for a total transaction of $138,580.00. Following the completion of the transaction, the chief operating officer now directly owns 42,489 shares in the company, valued at $905,865.48. This trade represents a 13.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.71% of the company’s stock.

Institutional Trading of NetScout Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake 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 worth $44,736,000 after buying an additional 2,055,913 shares during the last quarter. Millennium Management LLC lifted its stake in shares of NetScout Systems by 375.3% in the 2nd quarter. Millennium Management LLC now owns 1,100,485 shares of the technology company’s stock valued at $20,128,000 after purchasing an additional 868,955 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of NetScout Systems by 74.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 846,435 shares of the technology company’s stock valued at $15,481,000 after purchasing an additional 361,245 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in NetScout Systems during the second quarter worth approximately $6,015,000. Finally, Acadian Asset Management LLC increased its holdings in NetScout Systems by 181.1% in the second quarter. Acadian Asset Management LLC now owns 304,583 shares of the technology company’s stock worth $5,565,000 after purchasing an additional 196,218 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

NetScout Systems Company 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.