Fort Pitt Capital Group buys $28,409,571 stake in NetScout Systems (NTCT)

NetScout Systems (NTCT) : Fort Pitt Capital Group scooped up 14,475 additional shares in NetScout Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 1,012,458 shares of NetScout Systems which is valued at $28,409,571.NetScout Systems makes up approximately 3.37% of Fort Pitt Capital Group’s portfolio.

Other Hedge Funds, Including , Shelton Capital Management sold out all of its stake in NTCT during the most recent quarter. The investment firm sold 8,917 shares of NTCT which is valued $250,211.Ls Investment Advisors boosted its stake in NTCT in the latest quarter, The investment management firm added 2,216 additional shares and now holds a total of 5,637 shares of NetScout Systems which is valued at $141,489. NetScout Systems makes up approx 0.01% of Ls Investment Advisors’s portfolio.Simplex Trading reduced its stake in NTCT by selling 2,136 shares or 69.15% in the most recent quarter. The Hedge Fund company now holds 953 shares of NTCT which is valued at $23,777. Dalton Greiner Hartman Maher Co sold out all of its stake in NTCT during the most recent quarter. The investment firm sold 426,580 shares of NTCT which is valued $10,203,794.

NetScout Systems closed down -0.39 points or -1.39% at $27.67 with 5,91,054 shares getting traded on Thursday. Post opening the session at $27.99, the shares hit an intraday low of $27.62 and an intraday high of $28.18 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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