IDT Corporation (NYSE:IDT) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in IDT Corporation (NYSE:IDT - Free Report) by 209.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,741 shares of the utilities provider's stock after purchasing an additional 58,727 shares during the period. Allspring Global Investments Holdings LLC owned about 0.34% of IDT worth $4,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in IDT. Vanguard Group Inc. raised its holdings in IDT by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 1,265,815 shares of the utilities provider's stock valued at $60,152,000 after buying an additional 4,426 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in IDT by 0.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 514,043 shares of the utilities provider's stock valued at $26,376,000 after purchasing an additional 2,768 shares during the period. Geode Capital Management LLC grew its position in IDT by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 426,442 shares of the utilities provider's stock valued at $20,269,000 after purchasing an additional 5,346 shares during the period. D. E. Shaw & Co. Inc. grew its position in IDT by 6.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 351,588 shares of the utilities provider's stock valued at $16,707,000 after purchasing an additional 22,528 shares during the period. Finally, Deutsche Bank AG grew its position in IDT by 32.4% in the 4th quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider's stock valued at $15,711,000 after purchasing an additional 80,817 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

IDT Stock Performance

IDT traded down $0.09 during midday trading on Friday, hitting $69.79. The stock had a trading volume of 121,893 shares, compared to its average volume of 115,872. The company has a market cap of $1.76 billion, a P/E ratio of 18.41 and a beta of 0.73. The business has a fifty day moving average of $61.43 and a 200 day moving average of $52.97. IDT Corporation has a 1 year low of $33.84 and a 1 year high of $71.12.

IDT (NYSE:IDT - Get Free Report) last released its earnings results on Thursday, June 5th. The utilities provider reported $0.87 EPS for the quarter. The firm had revenue of $301.98 million for the quarter. IDT had a return on equity of 26.38% and a net margin of 7.85%.

IDT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 9th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. IDT's dividend payout ratio (DPR) is presently 6.33%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of IDT from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th.

About IDT

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.