WidePoint (NYSEAMERICAN:WYY) Upgraded to “Hold” at Zacks Investment Research

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WidePoint (NYSEAMERICAN:WYY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “WidePoint is a technology-based provider of products and services to the government sector and commercial markets. WidePoint specializes in providing systems engineering, integration and information technology services. WidePoint’s wholly owned subsidiary, ORC, is at the forefront of implementing government-compliant eAuthentication identity management managed services and associated systems engineering/integration. ORC has earned four major U.S. federal government certifications offering the highest levels of assurance for transactions over the Internet. WidePoint’s profile of customers encompasses U.S. Federal Government agencies, including the Department of Defense, the Department of Homeland Security and the Department of Justice as well as major U.S. defense contractors and several major pharmaceutical companies. “

Shares of WYY stock remained flat at $$0.30 during trading hours on Thursday. The stock had a trading volume of 10,661 shares, compared to its average volume of 185,147. WidePoint has a 1-year low of $0.30 and a 1-year high of $0.63.

In related news, Director Richard L. Todaro purchased 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of $0.34 per share, with a total value of $34,000.00. Following the completion of the acquisition, the director now directly owns 139,762 shares in the company, valued at $47,519.08. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

A hedge fund recently raised its stake in WidePoint stock. Renaissance Technologies LLC increased its stake in shares of WidePoint Co. (NYSEAMERICAN:WYY) by 29.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,138,570 shares of the technology company’s stock after purchasing an additional 257,123 shares during the quarter. Renaissance Technologies LLC owned 1.35% of WidePoint worth $476,000 as of its most recent SEC filing.

About WidePoint

WidePoint Corporation provides trusted mobility management (TM2) solutions to the government and commercial sectors in North America and Europe. It offers federally certified secure identity management and communications solutions through a proprietary portal. The company provides telecom lifecycle management solutions to corporations, governments, and not-for-profit organizations that provide visibility of telecom assets enabling clients to secure and manage the telecom assets; and telecom bill presentment analytical solutions, including bill presentment, subscriber data intelligence, and hosted voice analytics to communications service providers.

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