WidePoint (NYSEAMERICAN:WYY) Upgraded to “Strong-Buy” at Zacks Research

WidePoint (NYSEAMERICAN:WYY) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Separately, HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of WidePoint in a report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $8.67.

WidePoint Stock Performance

Shares of WYY opened at $15.92 on Wednesday. WidePoint has a one year low of $2.80 and a one year high of $24.30. The company has a market cap of $157.45 million, a PE ratio of -79.60 and a beta of 1.71. The stock has a 50-day moving average of $11.02 and a 200-day moving average of $7.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.04.

WidePoint (NYSEAMERICAN:WYY) last posted its quarterly earnings results on Thursday, May 14th. The technology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.13. The business had revenue of $40.58 million for the quarter, compared to the consensus estimate of $37.87 million. WidePoint had a negative return on equity of 16.24% and a negative net margin of 1.24%. On average, equities research analysts predict that WidePoint will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling at WidePoint

In related news, CFO Robert J. George sold 16,882 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $16.16, for a total value of $272,813.12. Following the transaction, the chief financial officer directly owned 19,842 shares of the company’s stock, valued at approximately $320,646.72. The trade was a 45.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Todd Dzyak sold 10,000 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the chief operating officer owned 115,436 shares of the company’s stock, valued at approximately $2,770,464. The trade was a 7.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 62,745 shares of company stock valued at $1,056,944. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in shares of WidePoint by 19,130.8% during the 1st quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock valued at $25,000 after acquiring an additional 4,974 shares during the period. PNC Financial Services Group Inc. bought a new stake in shares of WidePoint in the 1st quarter worth approximately $50,000. Cassaday & Co Wealth Management LLC purchased a new position in WidePoint in the first quarter valued at approximately $87,000. NewEdge Advisors LLC lifted its stake in WidePoint by 194.5% in the fourth quarter. NewEdge Advisors LLC now owns 46,028 shares of the technology company’s stock valued at $247,000 after purchasing an additional 30,397 shares during the last quarter. Finally, State Street Corp lifted its stake in WidePoint by 9.7% in the fourth quarter. State Street Corp now owns 27,153 shares of the technology company’s stock valued at $146,000 after purchasing an additional 2,400 shares during the last quarter. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

About WidePoint

WidePoint Corporation (NYSE American: WYY) is a provider of secure mobility management and identity management solutions. Headquartered in Reston, Virginia, the company delivers a range of managed services designed to help organizations control and secure their telecommunications and IT environments. Since its inception in the late 1990s, WidePoint has focused on helping businesses and government agencies optimize their mobile device portfolios and ensure regulatory compliance.

WidePoint’s core offerings include mobile device management, telecom expense management, and unified endpoint security.