IDT Corporation $IDT Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in IDT Corporation by 20.5% during the first quarter, bringing its total to 56,127 shares worth approximately $2.88 million.
• IDT's recent performance showed a 1.1% decrease in stock value, with shares opening at $64.03 amid a revenue report of $301.98 million for the last quarter.
• An analyst downgrade occurred as Wall Street Zen changed IDT's rating from "strong-buy" to "buy" on June 14th.

American Century Companies Inc. grew its stake in IDT Corporation (NYSE:IDT - Free Report) by 20.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,127 shares of the utilities provider's stock after acquiring an additional 9,533 shares during the quarter. American Century Companies Inc. owned about 0.22% of IDT worth $2,880,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IDT. Russell Investments Group Ltd. grew its stake in IDT by 6.7% during the 1st quarter. Russell Investments Group Ltd. now owns 160,674 shares of the utilities provider's stock worth $8,245,000 after buying an additional 10,135 shares during the last quarter. Nuveen LLC purchased a new position in IDT during the 1st quarter worth $10,409,000. Virtu Financial LLC purchased a new position in IDT during the 1st quarter worth $252,000. Entropy Technologies LP purchased a new position in IDT during the 1st quarter worth $212,000. Finally, Invesco Ltd. grew its stake in IDT by 3.5% during the 1st quarter. Invesco Ltd. now owns 29,615 shares of the utilities provider's stock worth $1,520,000 after buying an additional 988 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

IDT Stock Down 1.0%

Shares of IDT stock traded down $0.65 on Thursday, hitting $64.30. The company had a trading volume of 52,297 shares, compared to its average volume of 143,216. The firm has a market cap of $1.62 billion, a P/E ratio of 16.96 and a beta of 0.79. IDT Corporation has a twelve month low of $36.12 and a twelve month high of $71.12. The company has a 50-day moving average price of $61.97 and a 200-day moving average price of $56.90.

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

IDT Company 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.