Wayside Technology Group (NASDAQ:WSTG) Stock Price Crosses Above 200-Day Moving Average of $31.53

Wayside Technology Group, Inc. (NASDAQ:WSTGGet Rating) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $31.53 and traded as high as $33.89. Wayside Technology Group shares last traded at $32.95, with a volume of 13,342 shares changing hands.

Separately, StockNews.com initiated coverage on shares of Wayside Technology Group in a research report on Tuesday, April 5th. They set a “strong-buy” rating for the company.

The firm has a market capitalization of $146.63 million, a PE ratio of 15.18 and a beta of 0.81. The firm’s fifty day moving average is $32.69 and its two-hundred day moving average is $31.53.

Wayside Technology Group (NASDAQ:WSTGGet Rating) last released its earnings results on Wednesday, March 2nd. The company reported $0.78 earnings per share for the quarter. The firm had revenue of $75.51 million for the quarter. Wayside Technology Group had a net margin of 3.38% and a return on equity of 19.37%.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Monday, March 14th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Friday, March 11th. Wayside Technology Group’s payout ratio is currently 31.34%.

In related news, VP Vito Legrottaglie sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $31.50, for a total transaction of $157,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. bought a new stake in Wayside Technology Group during the 3rd quarter worth approximately $376,000. Dimensional Fund Advisors LP increased its holdings in Wayside Technology Group by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 130,441 shares of the company’s stock worth $3,518,000 after acquiring an additional 2,199 shares during the period. BlackRock Inc. increased its holdings in Wayside Technology Group by 14.3% during the 3rd quarter. BlackRock Inc. now owns 131,653 shares of the company’s stock worth $3,542,000 after acquiring an additional 16,504 shares during the period. Cove Street Capital LLC increased its holdings in shares of Wayside Technology Group by 79.3% in the 3rd quarter. Cove Street Capital LLC now owns 385,525 shares of the company’s stock worth $10,374,000 after buying an additional 170,450 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Wayside Technology Group by 33.7% in the 3rd quarter. Victory Capital Management Inc. now owns 104,430 shares of the company’s stock worth $2,816,000 after buying an additional 26,350 shares during the last quarter. 44.00% of the stock is currently owned by institutional investors and hedge funds.

About Wayside Technology Group (NASDAQ:WSTG)

Wayside Technology Group, Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software and hardware to corporate and value added resellers, consultants, and systems integrators under the names Climb Channel Solutions and Sigma Software Distribution; and software, hardware, and services under the names TechXtend and Grey Matter.

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