Nuveen LLC Purchases Shares of 661,298 NetScout Systems, Inc. $NTCT

Key Points

• Nuveen LLC has acquired a new stake in NetScout Systems, Inc., purchasing 661,298 shares valued at approximately $13.9 million, representing 0.92% of the company.
• NetScout Systems reported a quarterly earnings per share (EPS) of $0.34, exceeding analysts' expectations of $0.29, with a revenue of $186.75 million for the quarter.
• The company's stock is currently trading at $22.74, with a market capitalization of $1.63 billion and a PE ratio of 22.74.

Nuveen LLC bought a new position in shares of NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 661,298 shares of the technology company's stock, valued at approximately $13,894,000. Nuveen LLC owned about 0.92% of NetScout Systems at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in 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 during the period. Sterling Capital Management LLC increased its holdings in shares of NetScout Systems by 811.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company's stock worth $48,000 after buying an additional 1,973 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NetScout Systems during the fourth quarter worth approximately $71,000. PNC Financial Services Group Inc. increased its holdings in shares of NetScout Systems by 15.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,048 shares of the technology company's stock worth $85,000 after buying an additional 553 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of NetScout Systems during the first quarter worth approximately $216,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NetScout Systems

In related news, Director Michael Szabados sold 4,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $22.91, for a total transaction of $91,640.00. Following the sale, the director owned 38,939 shares of the company's stock, valued at $892,092.49. This trade represents a 9.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Downing sold 3,000 shares of the firm'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 directly owned 127,352 shares of the company's stock, valued at $2,988,951.44. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,500 shares of company stock valued at $245,525. 3.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, B. Riley assumed coverage on shares of NetScout Systems in a report on Tuesday. They issued a "buy" rating and a $33.00 price target for the company. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $29.00.

NetScout Systems Price Performance

NASDAQ:NTCT traded up $0.87 on Wednesday, hitting $24.76. 568,881 shares of the company's stock were exchanged, compared to its average volume of 614,987. The firm has a 50-day moving average price of $23.00 and a 200-day moving average price of $22.38. NetScout Systems, Inc. has a 52 week low of $18.12 and a 52 week high of $27.89. The company has a market cap of $1.78 billion, a P/E ratio of 24.76 and a beta of 0.65.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.34 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $181.50 million. During the same period in the previous year, the business earned $0.28 EPS. NetScout Systems's revenue for the quarter was up 6.9% compared to the same quarter last year. NetScout Systems has set its FY 2026 guidance at 2.250-2.40 EPS. On average, research analysts expect that NetScout Systems, Inc. will post 1.5 earnings per share for the current fiscal year.

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.