Victory Capital Management Inc. Purchases 114,124 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Key Points

• Victory Capital Management Inc. increased its stake in NetScout Systems by 141.8% during the 1st quarter, owning approximately 0.27% of the company valued at $4,089,000 after acquiring 114,124 shares.
• Institutional investors collectively own 91.64% of NetScout Systems, with notable increases in stakes from Russell Investments Group and Sterling Capital Management in the previous quarters.
• NetScout reported a quarterly EPS of $0.52, meeting analysts' expectations, with revenue of $204.99 million surpassing predictions, marking an increase of 0.8% year-over-year.

Victory Capital Management Inc. lifted its position in shares of NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 141.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 194,631 shares of the technology company's stock after acquiring an additional 114,124 shares during the quarter. Victory Capital Management Inc. owned approximately 0.27% of NetScout Systems worth $4,089,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of 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 acquiring an additional 1,263 shares during the period. Sterling Capital Management LLC lifted its stake in shares of NetScout Systems by 811.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company's stock valued at $48,000 after buying an additional 1,973 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of NetScout Systems during the 4th quarter valued at approximately $71,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of NetScout Systems during the 1st quarter valued at approximately $216,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of NetScout Systems during the 4th quarter valued at approximately $229,000. Institutional investors own 91.64% of the company's stock.

NetScout Systems Trading Down 1.1%

Shares of NTCT stock opened at $22.25 on Monday. The stock has a market capitalization of $1.59 billion, a P/E ratio of -4.32 and a beta of 0.65. The firm's 50 day moving average is $23.50 and its 200 day moving average is $22.47. NetScout Systems, Inc. has a 12 month low of $17.96 and a 12 month high of $27.89.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $194.80 million. NetScout Systems had a negative net margin of 44.60% and a positive return on equity of 7.37%. NetScout Systems's revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS. On average, equities analysts predict that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Insiders Place Their Bets

In other NetScout Systems news, Director Joseph G. Hadzima, Jr. sold 3,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $23.85, for a total value of $83,475.00. Following the sale, the director directly owned 127,798 shares in the company, valued at $3,047,982.30. This represents a 2.67% decrease in their position. The transaction was disclosed in a document filed 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 dated Thursday, May 29th. The shares were sold at an average price of $23.47, for a total value of $70,410.00. Following the completion of the sale, the executive vice president directly owned 127,352 shares in the company, valued at approximately $2,988,951.44. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $324,660 in the last three months. 3.71% of the stock is currently owned by corporate insiders.

NetScout Systems Company 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.

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