WidePoint Corp (NYSE:WYY) COO, Todd Dzyak, has sold a portion of his company shares, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on September 11, 2024, involved the sale of 750 shares at a price of $3.55 each, totaling $2,662.
Investors tracking insider transactions may note that following this sale, Dzyak still holds a significant amount of WidePoint stock, with 166,116 shares remaining in his possession. These transactions are part of the regular financial disclosures made by company executives, which can offer insights into their perspective on the company's current valuation and future prospects.
In addition to the stock sale, the filing revealed that Dzyak has stock options for WidePoint Corp as part of the company's Amended and Restated 2008 Stock Incentive Plan. These options, which are the right to buy 9,714 shares of Common Stock, will fully vest on the third anniversary of the date of grant, as per the footnotes in the SEC filing.
WidePoint Corp, with its headquarters located in Fairfax, Virginia, specializes in computer integrated systems design. The company operates under the standard industrial classification code 7373 and is incorporated in Delaware. WidePoint's fiscal year ends on December 31st.
The recent financial activities, including the sale of shares by COO Todd Dzyak, are standard disclosures that provide transparency regarding the actions of company executives and their holdings in the company. These filings are publicly available and offer a glimpse into the financial dealings within WidePoint Corp.
In other recent news, WidePoint Corporation reported a significant 35% surge in Q2 revenue, reaching $36 million. This marks the 28th consecutive quarter of positive adjusted EBITDA for the company. Notably, WidePoint secured significant contracts, including the Spiral 4 contract worth $2.7 billion and a $254 million addition to the CWMS 2.0 contract. The company has also been actively pursuing opportunities in the commercial sector, such as the K-12 market. Looking ahead, WidePoint anticipates achieving FedRAMP authorization by the end of 2024 and aims to achieve positive earnings per share in 2025. Despite challenges such as increased Days Sales Outstanding (DSOs) and $25.8 million in unbilled receivables, the company maintains an optimistic financial outlook. These are among the recent developments for WidePoint Corporation.
InvestingPro Insights
As investors consider the implications of WidePoint Corp's (NYSE:WYY) COO, Todd Dzyak, selling a portion of his stock, it's valuable to analyze the company's current financial standing through real-time metrics provided by InvestingPro. With a moderate market capitalization of $31.45 million and a revenue growth of 23.44% over the last twelve months as of Q2 2024, WidePoint appears to be expanding its financial reach.
InvestingPro Tips reveal that WidePoint has experienced a significant price uptick of 25.28% over the last six months, indicating a growing investor confidence in the company's stock. This is further supported by an impressive one-year price total return of 87.22%. Nevertheless, the stock is currently trading at a low revenue valuation multiple, which might suggest that the market has not fully recognized the company's growth potential.
For those interested in the finer details of WidePoint's financials, InvestingPro offers additional insights. The company's gross profit margin stands at 14.07% for the last twelve months as of Q2 2024, which points to challenges in maintaining higher profitability ratios. Furthermore, the company operates with a moderate level of debt and does not pay a dividend to shareholders, which could influence investment strategies for income-focused investors.
Investors intrigued by these insights can find a total of 10 InvestingPro Tips, which provide a deeper analysis of WidePoint's financial health and market position. These tips offer a comprehensive view, from stock price volatility to the company's profitability metrics, and can be accessed through the InvestingPro platform at https://www.investing.com/pro/WYY.
Understanding these metrics and tips can help investors make more informed decisions regarding their investments in WidePoint Corp, particularly in light of recent insider transactions.
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