Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
Market Information
Our common stock trades on the Nasdaq Global Select Market, under the symbol NTCT.
Stockholders
At May 9, 2022, we had 89 stockholders of record. We believe that the number of beneficial holders of our common stock exceeds 14,000.
Stock Performance Graph
This performance graph shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any filing of NetScout under the Exchange Act or the Securities Act of 1933, as amended.
The Stock Performance Graph set forth below compares the yearly change in the cumulative total stockholder return on our common stock during the five-year period from March 31, 2017 through March 31, 2022 with the cumulative total return of the Nasdaq Composite Index and the Nasdaq Computer & Data Processing Index. The comparison assumes $100 was invested on March 31, 2017 in our common stock or in the Nasdaq Composite Index and the Nasdaq Computer & Data Processing Index and assumes reinvestment of dividends, if any.
The stock price performance shown on the graph below is not necessarily indicative of future price performance. Information used in the graph was obtained from Research Data Group, Inc.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN
Assumes Initial Investment of $100
3/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022
NetScout Systems, Inc. $ 100.00 $ 69.43 $ 73.97 $ 62.37 $ 74.20 $ 84.53
Nasdaq Composite – Total Returns $ 100.00 $ 120.76 $ 133.60 $ 134.52 $ 233.26 $ 252.05
Nasdaq Computer and Data Processing $ 100.00 $ 122.19 $ 134.55 $ 149.46 $ 249.93 $ 263.41
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Dividend Policy
In fiscal years 2022 and 2021 , we did not declare any cash dividends and do not anticipate declaring cash dividends in the foreseeable future. In addition, the terms of our credit facility limit our ability to pay cash dividends on our capital stock. It is our intention to retain all future earnings for reinvestment to fund our expansion and growth, to pay down our debt, and to fund our stock buyback program further described under Item 7 "Liquidity and Capital Resources." Any future cash dividend declaration will be at the discretion of our Board of Directors and will depend upon, among other things, our future earnings, general financial conditions, capital requirements, existing bank covenants and general business conditions.
Recent Sales of Unregistered Securities
None.
Purchases of Equity Securities by the Issuer
The following table provides information about purchases we made during the quarter ended March 31, 2022 of equity securities that are registered by us pursuant to Section 12 of the Exchange Act:
Total Number
of Shares
Purchased (1) Average Price
Paid per Share Total Number of
Shares Purchased
as Part of Publicly
Announced Plans
or Programs Maximum Number of Shares That May
Yet be Purchased
Under the
Program
1/1/2022 - 1/31/2022 1,321 $ 30.68 — 5,758,482
2/1/2022 - 2/28/2022 11,664 31.14 — 5,758,482
3/1/2022 - 3/31/2022 1,343 31.18 — 5,758,482
Total 14,328 $ 31.10 — 5,758,482
(1) We purchased a n aggregate of 14,328 shares transferred to us from employees in satisfaction of tax withholding obligations associated with the vesting of restri cted stock units during the period. Such purchases reflected in the table do not reduce the maximum number of shares that may be purchased under our 25 million share repurchase p rogram authorized on October 24, 2017.
Item 6. Selected Financial Data
Information required by Item 6 of Form 10-K is omitted pursuant to the SEC's adoption of amendments to Regulation S-K effective February 10, 2021.
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.