Schwab Charles Investment Management Inc. increased its position in shares of West Corporation (NASDAQ:WSTC) by 5.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 378,868 shares of the technology company’s stock after buying an additional 19,456 shares during the period. Schwab Charles Investment Management Inc. owned about 0.45% of West Corporation worth $9,252,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in West Corporation by 10.6% in the first quarter. Vanguard Group Inc. now owns 5,671,163 shares of the technology company’s stock worth $138,489,000 after buying an additional 544,296 shares during the last quarter. JPMorgan Chase & Co. boosted its position in West Corporation by 15.3% in the first quarter. JPMorgan Chase & Co. now owns 1,635,042 shares of the technology company’s stock worth $39,928,000 after buying an additional 216,380 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in West Corporation by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,357,133 shares of the technology company’s stock worth $33,141,000 after buying an additional 50,322 shares during the last quarter. Peregrine Capital Management LLC boosted its position in West Corporation by 4.3% in the first quarter. Peregrine Capital Management LLC now owns 1,321,643 shares of the technology company’s stock worth $31,891,000 after buying an additional 53,985 shares during the last quarter. Finally, Norges Bank bought a new position in West Corporation during the fourth quarter worth $29,931,000. Hedge funds and other institutional investors own 68.92% of the company’s stock.
Shares of West Corporation (NASDAQ WSTC) traded up 0.04% during mid-day trading on Friday, hitting $23.34. 603,986 shares of the company were exchanged. West Corporation has a 52 week low of $19.64 and a 52 week high of $28.57. The company has a 50 day moving average of $23.29 and a 200 day moving average of $23.95. The company has a market capitalization of $1.95 billion, a P/E ratio of 9.77 and a beta of 1.59.
West Corporation (NASDAQ:WSTC) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $574.39 million during the quarter, compared to analyst estimates of $579.40 million. West Corporation had a net margin of 9.39% and a negative return on equity of 55.18%. Equities analysts anticipate that West Corporation will post $2.91 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: “Schwab Charles Investment Management Inc. Has $9.25 Million Position in West Corporation (NASDAQ:WSTC)” was posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this article on another site, it was copied illegally and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://stocknewstimes.com/2017/08/06/schwab-charles-investment-management-inc-boosts-stake-in-west-corporation-nasdaqwstc-updated.html.
A number of research analysts have weighed in on WSTC shares. BidaskClub cut shares of West Corporation from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 16th. Wells Fargo & Company restated a “market perform” rating and set a $23.50 price target on shares of West Corporation in a research note on Wednesday, May 10th. Deutsche Bank AG cut shares of West Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. William Blair cut shares of West Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 10th. Finally, Robert W. Baird cut shares of West Corporation from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $28.00 to $24.00 in a research note on Wednesday, May 10th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.88.
In related news, insider Rodney J. Kempkes sold 1,160 shares of the business’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 transaction of $26,854.00. Following the completion of the sale, the insider now directly 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 business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $23.27, for a total transaction of $78,699.14. Following the sale, the insider now owns 58,893 shares of the company’s stock, valued at $1,370,440.11. The disclosure for this sale can be found here. Insiders have sold 7,924 shares of company stock valued at $184,523 over the last 90 days. 4.60% of the stock is currently owned by company insiders.
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.
Receive News & Ratings for West Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for West Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
