Wayside Technology Group, Inc. (NASDAQ:WSTG) Short Interest Down 46.0% in March

Wayside Technology Group, Inc. (NASDAQ:WSTGGet Rating) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 2,700 shares, a decline of 46.0% from the March 15th total of 5,000 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 14,600 shares, the short-interest ratio is presently 0.2 days.

In other Wayside Technology Group news, VP Vito Legrottaglie sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $31.50, for a total value of $157,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of WSTG. Morgan Stanley lifted its stake in Wayside Technology Group by 112.8% during the first quarter. Morgan Stanley now owns 2,854 shares of the company’s stock valued at $72,000 after buying an additional 1,513 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Wayside Technology Group in the 3rd quarter valued at approximately $376,000. Royal Bank of Canada boosted its stake in Wayside Technology Group by 272.6% in the 3rd quarter. Royal Bank of Canada now owns 23,100 shares of the company’s stock worth $622,000 after purchasing an additional 16,900 shares during the period. Geode Capital Management LLC grew its position in Wayside Technology Group by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,211 shares of the company’s stock worth $652,000 after purchasing an additional 1,892 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Wayside Technology Group by 210.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 31,400 shares of the company’s stock valued at $846,000 after purchasing an additional 21,300 shares during the period. 44.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:WSTG opened at $34.48 on Friday. The stock has a market capitalization of $153.44 million, a price-to-earnings ratio of 15.89 and a beta of 0.81. Wayside Technology Group has a 1-year low of $23.50 and a 1-year high of $36.69. The company has a 50 day moving average price of $32.28 and a 200 day moving average price of $31.24.

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

The business also recently declared a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Monday, March 14th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.97%. Wayside Technology Group’s dividend payout ratio (DPR) is 31.34%.

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.

About Wayside Technology Group (Get Rating)

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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