Key Points
- WidePoint COO Todd Dzyak sold 10,000 shares on June 23 at an average price of $15.00, for proceeds of $150,000. After the sale, he still directly owned 135,436 shares valued at about $2.03 million.
- The stock has recently been strong, opening at $15.27 and trading near its 52-week high of $15.60, well above its 50-day and 200-day moving averages.
- WidePoint’s latest results beat expectations, with quarterly EPS of $0.01 versus a forecast loss and revenue of $40.58 million above estimates; analysts currently rate the stock a “Moderate Buy” with an average target price of $8.67.
WidePoint Corporation (NYSEAMERICAN:WYY - Get Free Report) COO Todd Dzyak sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the transaction, the chief operating officer directly owned 135,436 shares in the company, valued at approximately $2,031,540. This trade represents a 6.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
WidePoint Stock Performance
WidePoint stock opened at $15.27 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $151.02 million, a PE ratio of -76.35 and a beta of 1.81. The company has a 50 day moving average price of $9.31 and a 200-day moving average price of $6.90. WidePoint Corporation has a fifty-two week low of $2.80 and a fifty-two week high of $15.60.
WidePoint (NYSEAMERICAN:WYY - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.13. The company had revenue of $40.58 million for the quarter, compared to analysts' expectations of $37.87 million. WidePoint had a negative return on equity of 16.24% and a negative net margin of 1.24%. As a group, equities analysts forecast that WidePoint Corporation will post -0.06 earnings per share for the current year.
Analysts Set New Price Targets
WYY has been the topic of a number of recent research reports. HC Wainwright reissued a "buy" rating and set a $9.00 price target on shares of WidePoint in a research report on Monday, March 30th. Zacks Research upgraded WidePoint from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $8.67.
Check Out Our Latest Stock Report on WidePoint
Hedge Funds Weigh In On WidePoint
Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its stake in WidePoint by 19,130.8% in the first quarter. Royal Bank of Canada now owns 5,000 shares of the technology company's stock worth $25,000 after buying an additional 4,974 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in WidePoint during the 1st quarter valued at $50,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of WidePoint in the 1st quarter valued at $87,000. NewEdge Advisors LLC increased its holdings in shares of WidePoint by 194.5% in the 4th quarter. NewEdge Advisors LLC now owns 46,028 shares of the technology company's stock valued at $247,000 after acquiring an additional 30,397 shares during the period. Finally, State Street Corp raised its position in shares of WidePoint by 9.7% in the 4th quarter. State Street Corp now owns 27,153 shares of the technology company's stock worth $146,000 after acquiring an additional 2,400 shares in the last quarter. 22.60% of the stock is owned by hedge funds and other institutional investors.
WidePoint Company Profile
(
Get Free Report)
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.
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