Wayside Technology Group (NASDAQ:WSTG) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Wayside Technology Group (NASDAQ:WSTGGet Rating) in a report released on Friday. The brokerage set a “hold” rating on the stock.

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

Wayside Technology Group Price Performance

Wayside Technology Group has a 52-week low of $24.65 and a 52-week high of $39.45. The stock has a 50-day simple moving average of $28.88 and a two-hundred day simple moving average of $31.71. The firm has a market capitalization of $139.12 million, a price-to-earnings ratio of 12.11, a P/E/G ratio of 0.71 and a beta of 0.78. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WSTG. Cove Street Capital LLC boosted its stake in shares of Wayside Technology Group by 14.6% in the third quarter. Cove Street Capital LLC now owns 334,861 shares of the company’s stock valued at $9,001,000 after purchasing an additional 42,691 shares during the period. Janney Montgomery Scott LLC bought a new position in Wayside Technology Group during the 3rd quarter valued at $237,000. Sigma Planning Corp bought a new position in Wayside Technology Group during the 2nd quarter valued at $274,000. Albert D Mason Inc. boosted its stake in Wayside Technology Group by 16.7% during the 3rd quarter. Albert D Mason Inc. now owns 45,248 shares of the company’s stock valued at $1,216,000 after acquiring an additional 6,479 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Wayside Technology Group by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 140,598 shares of the company’s stock valued at $4,858,000 after acquiring an additional 5,047 shares during the last quarter. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

Wayside Technology Group Company Profile

(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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