Sheffield Asset Management L.l.c. Lowers stake in NetScout Systems (NTCT)

NetScout Systems (NTCT) : Sheffield Asset Management L.l.c. reduced its stake in NetScout Systems by 22.02% during the most recent quarter end. The investment management company now holds a total of 993,291 shares of NetScout Systems which is valued at $27,881,678 after selling 280,500 shares in NetScout Systems , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.NetScout Systems makes up approximately 7.69% of Sheffield Asset Management L.l.c.’s portfolio.

Other Hedge Funds, Including , Sqn Investors Lp boosted its stake in NTCT in the latest quarter, The investment management firm added 129,825 additional shares and now holds a total of 564,569 shares of NetScout Systems which is valued at $15,847,452. NetScout Systems makes up approx 9.23% of Sqn Investors Lp’s portfolio. State Of Tennessee Treasury Department added NTCT to its portfolio by purchasing 100,000 company shares during the most recent quarter which is valued at $2,807,000. NetScout Systems makes up approx 0.01% of State Of Tennessee Treasury Department’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in NTCT in the latest quarter, The investment management firm added 27,897 additional shares and now holds a total of 2,798,130 shares of NetScout Systems which is valued at $78,543,509. NetScout Systems makes up approx 0.01% of Blackrock Institutional Trust Company N.a.’s portfolio.Teacher Retirement System Of Texas boosted its stake in NTCT in the latest quarter, The investment management firm added 678 additional shares and now holds a total of 12,234 shares of NetScout Systems which is valued at $340,105.Fort Pitt Capital Group boosted its stake in NTCT in the latest quarter, The investment management firm added 14,475 additional shares and now holds a total of 1,012,458 shares of NetScout Systems which is valued at $28,409,571. NetScout Systems makes up approx 3.37% of Fort Pitt Capital Group’s portfolio.

NetScout Systems opened for trading at $29.53 and hit $29.73 on the upside on Thursday, eventually ending the session at $29.73, with a gain of 0.51% or 0.15 points. The heightened volatility saw the trading volume jump to 6,14,436 shares. Company has a market cap of $2,735 M.

On the company’s financial health, NetScout Systems reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.25. The company had revenue of $269.00 million for the quarter, compared to analysts expectations of $269.33 million. The company’s revenue was up 167.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on NetScout Systems. Pacific Crest Initiated NetScout Systems on Jul 28, 2016 to “Overweight”, Price Target of the shares are set at $31.

NetScout Systems Inc. is a provider of network application and service assurance solutions. The Company provides performance analytics that help enterprise government and service provider customers manage service delivery and identify emerging performance problems. The Company designs develops manufactures markets licenses sells and supports the products in hardware and software solutions that are used by commercial enterprises governmental agencies and telecommunication service providers. The Company has three primary customer groups; enterprise customers service provider customers and government customers. The Company’s products include nGeniusONE Service Assurance Solution nGenius Intelligent Data Sources nGenius Packet Flow Switches and Taps NetScout Test Optimization Products and nGenius NetFlow Solutions.

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