Bank of New York Mellon Corp Reduces Position in NetScout Systems, Inc. (NASDAQ:NTCT)

Bank of New York Mellon Corp cut its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 496,477 shares of the technology company’s stock after selling 33,522 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.69% of NetScout Systems worth $10,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in NetScout Systems by 17.0% in 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 during the period. Mariner LLC boosted its stake in 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 buying an additional 681 shares during the last quarter. Vident Advisory LLC raised its position in NetScout Systems by 4.4% in the fourth quarter. Vident Advisory LLC now owns 23,030 shares of the technology company’s stock valued at $499,000 after purchasing an additional 970 shares during the period. Captrust Financial Advisors raised its holdings in shares of NetScout Systems by 4.3% in the 4th quarter. Captrust Financial Advisors now owns 24,210 shares of the technology company’s stock valued at $524,000 after buying an additional 993 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in NetScout Systems by 1,214.4% during the 4th 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 during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.

NetScout Systems Trading Down 0.3%

Shares of NetScout Systems stock opened at $22.98 on Tuesday. NetScout Systems, Inc. has a twelve month low of $17.95 and a twelve month high of $27.89. The business’s fifty day moving average price is $23.54 and its 200 day moving average price is $22.44. The stock has a market capitalization of $1.64 billion, a P/E ratio of 15.26 and a beta of 0.65.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. The company had revenue of $204.99 million during the quarter, compared to the consensus estimate of $194.80 million. NetScout Systems had a positive return on equity of 7.37% and a negative net margin of 44.60%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, sell-side analysts predict that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Insiders Place Their Bets

In related news, EVP John Downing sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $23.47, for a total transaction of $70,410.00. Following the sale, the executive vice president owned 127,352 shares in the company, valued at approximately $2,988,951.44. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Szabados sold 7,500 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $22.77, for a total transaction of $170,775.00. Following the transaction, the chief operating officer directly owned 28,489 shares of the company’s stock, valued at $648,694.53. The trade was a 20.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,000 shares of company stock valued at $324,660. Company insiders own 3.71% of the company’s stock.

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.