Exane Asset Management acquired a new position in shares of West Corporation (NASDAQ:WSTC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 40,000 shares of the technology company’s stock, valued at approximately $933,000.
Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in West Corporation during the first quarter worth $295,000. First Quadrant L P CA increased its position in shares of West Corporation by 71.3% in the first quarter. First Quadrant L P CA now owns 62,260 shares of the technology company’s stock valued at $1,520,000 after buying an additional 25,921 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of West Corporation by 75.3% in the first quarter. Nationwide Fund Advisors now owns 86,922 shares of the technology company’s stock valued at $2,123,000 after buying an additional 37,340 shares during the last quarter. James Investment Research Inc. acquired a new position in shares of West Corporation during the first quarter valued at approximately $148,000. Finally, Nisa Investment Advisors LLC increased its position in shares of West Corporation by 118.5% in the first quarter. Nisa Investment Advisors LLC now owns 14,860 shares of the technology company’s stock valued at $363,000 after buying an additional 8,060 shares during the last quarter. 68.92% of the stock is currently owned by institutional investors.
West Corporation (WSTC) opened at 23.34 on Friday. West Corporation has a 12-month low of $19.64 and a 12-month high of $28.57. The firm’s 50-day moving average price is $23.29 and its 200 day moving average price is $23.95. The firm has a market cap of $1.95 billion, a P/E ratio of 9.77 and a beta of 1.59.
West Corporation (NASDAQ:WSTC) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. West Corporation had a net margin of 9.39% and a negative return on equity of 55.18%. The firm had revenue of $574.39 million for the quarter, compared to analyst estimates of $579.40 million. Analysts forecast that West Corporation will post $2.91 earnings per share for the current fiscal year.
Several brokerages have recently commented on WSTC. Zacks Investment Research raised West Corporation from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Friday, May 19th. Robert W. Baird downgraded West Corporation from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $28.00 to $24.00 in a report on Wednesday, May 10th. William Blair downgraded West Corporation from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 10th. Deutsche Bank AG downgraded West Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $23.50 target price on shares of West Corporation in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. West Corporation has a consensus rating of “Hold” and an average price target of $24.88.
In other West Corporation news, insider Rodney J. Kempkes sold 1,160 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $23.15, for a total value of $26,854.00. Following the sale, the insider now owns 62,275 shares in the company, valued at $1,441,666.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rodney J. Kempkes sold 3,382 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $23.35, for a total transaction of $78,969.70. Following the completion of the sale, the insider now owns 55,511 shares in the company, valued at approximately $1,296,181.85. The disclosure for this sale can be found here. Insiders sold 7,924 shares of company stock worth $184,523 in the last 90 days. Company insiders own 4.60% of the company’s stock.
About West Corporation
West Corporation is a provider of communication and network infrastructure services. The Company helps its clients communicate, collaborate and connect with their audiences through a portfolio of solutions that include unified communications services, safety services, and interactive services, such as automated notifications, specialized agent services and telecom services.
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