NetScout Systems, Inc. (NASDAQ:NTCT) Position Lifted by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in NetScout Systems, Inc. by 24.5% during the first quarter, holding 745,459 shares valued at approximately $15.66 million.
• In a recent quarter, other institutional investors like Russell Investments Group Ltd. and Sterling Capital Management LLC significantly increased their positions, with Russell's holdings growing by 1,214.4%.
• NetScout Systems reported a quarterly earnings beat with an EPS of $0.34, exceeding expectations of $0.29, and a revenue increase of 6.9% year-over-year.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 24.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 745,459 shares of the technology company's stock after acquiring an additional 146,848 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.04% of NetScout Systems worth $15,662,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in NetScout Systems by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,959,996 shares of the technology company's stock worth $42,463,000 after buying an additional 30,445 shares in the last quarter. First Trust Advisors LP raised its stake in shares of NetScout Systems by 4.6% during the fourth quarter. First Trust Advisors LP now owns 1,432,901 shares of the technology company's stock valued at $31,037,000 after acquiring an additional 62,603 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in NetScout Systems by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,264,530 shares of the technology company's stock valued at $26,568,000 after buying an additional 13,374 shares during the period. Assenagon Asset Management S.A. increased its holdings in NetScout Systems by 39.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,152,379 shares of the technology company's stock valued at $24,211,000 after buying an additional 328,468 shares during the period. Finally, LSV Asset Management increased its holdings in NetScout Systems by 253.1% during the first quarter. LSV Asset Management now owns 909,855 shares of the technology company's stock valued at $19,116,000 after buying an additional 652,155 shares during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

NetScout Systems Trading Up 0.3%

Shares of NASDAQ:NTCT traded up $0.06 on Friday, hitting $22.45. 162,412 shares of the company were exchanged, compared to its average volume of 512,628. NetScout Systems, Inc. has a 1-year low of $18.12 and a 1-year high of $27.89. The stock's 50 day moving average price is $23.09 and its 200 day moving average price is $22.42. The firm has a market capitalization of $1.61 billion, a P/E ratio of 22.48 and a beta of 0.65.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. NetScout Systems had a net margin of 8.72% and a return on equity of 7.47%. The company had revenue of $186.75 million during the quarter, compared to analysts' expectations of $181.50 million. During the same quarter in the prior year, the company earned $0.28 EPS. NetScout Systems's revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that NetScout Systems, Inc. will post 1.5 EPS for the current fiscal year.

Insider Transactions at NetScout Systems

In other NetScout Systems news, EVP John Downing sold 3,000 shares of the business's 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 completion of the sale, the executive vice president directly owned 127,352 shares in the company, valued at $2,988,951.44. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph G. Hadzima, Jr. sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $23.85, for a total transaction of $83,475.00. Following the sale, the director owned 127,798 shares of the company's stock, valued at approximately $3,047,982.30. This represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.82% of the stock is currently owned by insiders.

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.