Mackenzie Financial Corp Acquires 57,239 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Mackenzie Financial Corp increased its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 89.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 121,495 shares of the technology company's stock after purchasing an additional 57,239 shares during the quarter. Mackenzie Financial Corp owned approximately 0.17% of NetScout Systems worth $2,632,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in NetScout Systems by 1,214.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company's stock valued at $30,000 after acquiring an additional 1,263 shares during the last quarter. Sterling Capital Management LLC lifted its stake in NetScout Systems by 811.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company's stock valued at $48,000 after acquiring an additional 1,973 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in NetScout Systems in the fourth quarter valued at approximately $71,000. PNC Financial Services Group Inc. lifted 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 valued at $76,000 after acquiring an additional 508 shares during the last quarter. Finally, KBC Group NV increased its position in 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 buying an additional 1,398 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

NetScout Systems Stock Performance

NetScout Systems stock traded down $0.33 during trading hours on Friday, reaching $22.79. 378,451 shares of the company were exchanged, compared to its average volume of 539,370. NetScout Systems, Inc. has a 12 month low of $17.10 and a 12 month high of $27.89. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -3.89 and a beta of 0.62. The company has a current ratio of 1.81, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $21.39 and a 200 day moving average of $22.03.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. The business had revenue of $204.99 million for the quarter, compared to analyst estimates of $194.80 million. NetScout Systems had a negative net margin of 50.90% and a positive return on equity of 6.76%. NetScout Systems's revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $0.55 EPS. As a group, research analysts anticipate that NetScout Systems, Inc. will post 1.5 earnings per share for the current year.

Insider Activity

In related news, EVP John Downing sold 3,000 shares of the business's stock in a transaction 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 transaction, the executive vice president now owns 127,352 shares of the company's stock, valued at approximately $2,988,951.44. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael Szabados sold 7,500 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $22.77, for a total transaction of $170,775.00. Following the completion of the sale, the chief operating officer now owns 28,489 shares in the company, valued at $648,694.53. This represents a 20.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.71% of the stock is currently owned by company 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.