StockNews.com Begins Coverage on Wayside Technology Group (NASDAQ:WSTG)

Research analysts at StockNews.com began coverage on shares of Wayside Technology Group (NASDAQ:WSTGGet Rating) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the stock.

Separately, Barrington Research started coverage on shares of Wayside Technology Group in a report on Wednesday, October 19th. They set an “outperform” rating and a $40.00 price target for the company.

Wayside Technology Group Price Performance

The business’s 50-day moving average price is $28.84 and its 200 day moving average price is $31.72. The firm has a market cap of $139.12 million, a P/E ratio of 12.11, a P/E/G ratio of 0.71 and a beta of 0.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.25 and a quick ratio of 1.24. Wayside Technology Group has a 1-year low of $24.65 and a 1-year high of $39.45.

Institutional Trading of Wayside Technology Group

Institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new stake in shares of Wayside Technology Group during the 3rd quarter worth $237,000. Sigma Planning Corp purchased a new stake in shares of Wayside Technology Group during the 2nd quarter worth $274,000. CAPROCK Group Inc. lifted its position in shares of Wayside Technology Group by 25.3% during the 3rd quarter. CAPROCK Group Inc. now owns 11,810 shares of the company’s stock worth $317,000 after purchasing an additional 2,383 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Wayside Technology Group by 9.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,409 shares of the company’s stock worth $532,000 after purchasing an additional 1,277 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Wayside Technology Group by 1.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 22,106 shares of the company’s stock worth $594,000 after purchasing an additional 403 shares during the last quarter. Institutional investors and hedge funds own 42.89% of the company’s stock.

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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