The Manufacturers Life Insurance Company Cuts Stock Holdings in NetScout Systems, Inc. (NASDAQ:NTCT)

The Manufacturers Life Insurance Company decreased its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,171 shares of the technology company’s stock after selling 2,555 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NetScout Systems were worth $740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in shares of NetScout Systems by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company’s stock worth $76,000 after purchasing an additional 508 shares in the last quarter. Mariner LLC grew its holdings in shares of NetScout Systems by 5.4% during the fourth quarter. Mariner LLC now owns 13,307 shares of the technology company’s stock worth $288,000 after purchasing an additional 681 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of NetScout Systems by 3.4% during the fourth quarter. New York State Common Retirement Fund now owns 23,968 shares of the technology company’s stock worth $519,000 after purchasing an additional 792 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of NetScout Systems by 1,214.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,263 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of NetScout Systems by 45.1% during the fourth quarter. KBC Group NV now owns 4,498 shares of the technology company’s stock worth $97,000 after purchasing an additional 1,398 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada boosted their price objective on NetScout Systems from $22.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st.

Insider Activity

In other news, EVP John Downing sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $24.25, for a total transaction of $72,750.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.71% of the company’s stock.

NetScout Systems Stock Down 1.6%

Shares of NTCT opened at $22.65 on Thursday. The firm has a market cap of $1.63 billion, a P/E ratio of -3.87 and a beta of 0.62. The stock has a 50 day simple moving average of $20.89 and a two-hundred day simple moving average of $21.89. 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, Inc. has a 1 year low of $17.10 and a 1 year high of $27.89.

NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, May 8th. The technology company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $204.99 million during the quarter, compared to analyst estimates of $194.80 million. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. NetScout Systems’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share. On average, analysts forecast that NetScout Systems, Inc. will post 1.5 earnings per share for the current fiscal 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.