Allspring Global Investments Holdings LLC Increases Stock Holdings in IDT Co. (NYSE:IDT)

Allspring Global Investments Holdings LLC increased its holdings in IDT Co. (NYSE:IDT) by 146.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,973 shares of the utilities provider’s stock after acquiring an additional 13,659 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.09% of IDT worth $783,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new stake in IDT in the third quarter worth $30,000. SG Americas Securities LLC purchased a new stake in IDT in the fourth quarter worth $115,000. DekaBank Deutsche Girozentrale purchased a new stake in IDT in the third quarter worth $75,000. Quantbot Technologies LP lifted its stake in IDT by 271.8% in the third quarter. Quantbot Technologies LP now owns 4,603 shares of the utilities provider’s stock worth $101,000 after acquiring an additional 3,365 shares during the period. Finally, Barclays PLC lifted its stake in IDT by 13.6% in the third quarter. Barclays PLC now owns 7,437 shares of the utilities provider’s stock worth $164,000 after acquiring an additional 889 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insider Activity

In other news, COO Bill Pereira sold 15,647 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $37.95, for a total transaction of $593,803.65. Following the completion of the transaction, the chief operating officer now directly owns 49,999 shares in the company, valued at $1,897,462.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Mitch Silberman sold 2,115 shares of IDT stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $38.01, for a total value of $80,391.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Bill Pereira sold 15,647 shares of IDT stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $37.95, for a total value of $593,803.65. Following the completion of the sale, the chief operating officer now owns 49,999 shares of the company’s stock, valued at $1,897,462.05. The disclosure for this sale can be found here. Insiders sold 18,192 shares of company stock worth $690,075 over the last three months. 15.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded IDT from a “hold” rating to a “buy” rating in a report on Thursday, March 7th.

IDT Trading Down 1.0 %

IDT opened at $36.59 on Thursday. The stock has a fifty day simple moving average of $37.09 and a two-hundred day simple moving average of $33.38. The company has a market cap of $929.02 million, a price-to-earnings ratio of 25.23 and a beta of 0.97. IDT Co. has a 12-month low of $21.64 and a 12-month high of $38.68.

IDT (NYSE:IDT) last posted its quarterly earnings data on Wednesday, March 6th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter. The business had revenue of $296.10 million during the quarter. IDT had a return on equity of 20.18% and a net margin of 3.08%.

IDT Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. IDT’s payout ratio is presently 13.79%.

IDT Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.