WidePoint (NYSEAMERICAN:WYY) Downgraded to Hold Rating by Zacks Research

WidePoint (NYSEAMERICAN:WYY) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

WidePoint Stock Performance

WYY opened at $9.45 on Thursday. WidePoint has a twelve month low of $3.25 and a twelve month high of $24.30. The firm has a market capitalization of $93.46 million, a PE ratio of -72.69 and a beta of 1.77. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $12.73 and its 200 day moving average price is $8.60.

WidePoint (NYSEAMERICAN:WYY) last released its earnings results on Thursday, August 13th. The technology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The business had revenue of $38.00 million during the quarter, compared to analysts’ expectations of $41.83 million. WidePoint had a negative return on equity of 10.71% and a negative net margin of 0.81%. As a group, sell-side analysts expect that WidePoint will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Robert J. George sold 16,882 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $16.16, for a total transaction of $272,813.12. Following the completion of the sale, the chief financial officer directly owned 19,842 shares in the company, valued at approximately $320,646.72. This trade represents a 45.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Todd Dzyak sold 5,000 shares of WidePoint stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $12.75, for a total transaction of $63,750.00. Following the transaction, the chief operating officer directly owned 110,436 shares in the company, valued at $1,408,059. This trade represents a 4.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 82,745 shares of company stock valued at $1,355,144 in the last three months. 16.10% of the stock is currently owned by insiders.

Institutional Trading of WidePoint

Several institutional investors have recently made changes to their positions in WYY. Royal Bank of Canada grew its position 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 acquiring an additional 4,974 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of WidePoint in the 1st quarter valued at $50,000. Ritholtz Wealth Management purchased a new position in shares of WidePoint during the 4th quarter worth $79,000. XTX Topco Ltd purchased a new position in shares of WidePoint during the 2nd quarter worth $58,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of WidePoint during the 1st quarter worth about $87,000. Hedge funds and other institutional investors own 22.60% of the company’s stock.

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.