Engineers Gate Manager LP purchased a new position in shares of West Corporation (NASDAQ:WSTC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 64,356 shares of the technology company’s stock, valued at approximately $1,501,000. Engineers Gate Manager LP owned about 0.08% of West Corporation as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of West Corporation by 37.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,240,742 shares of the technology company’s stock worth $52,254,000 after purchasing an additional 605,700 shares during the last quarter. IndexIQ Advisors LLC purchased a new stake in shares of West Corporation during the 2nd quarter worth approximately $1,143,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of West Corporation during the 2nd quarter worth approximately $1,957,000. Victory Capital Management Inc. increased its stake in shares of West Corporation by 8.1% during the 2nd quarter. Victory Capital Management Inc. now owns 24,570 shares of the technology company’s stock worth $573,000 after purchasing an additional 1,835 shares during the last quarter. Finally, GAM Holding AG purchased a new stake in shares of West Corporation during the 2nd quarter worth approximately $3,478,000. Institutional investors own 67.38% of the company’s stock.
Several brokerages have recently issued reports on WSTC. BidaskClub lowered shares of West Corporation from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 16th. Zacks Investment Research lowered shares of West Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $24.88.
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In other West Corporation news, insider Rodney J. Kempkes sold 3,385 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $23.36, for a total transaction of $79,073.60. Following the completion of the sale, the insider now directly owns 52,126 shares of the company’s stock, valued at $1,217,663.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Rodney J. Kempkes sold 3,382 shares of the company’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 directly owns 58,893 shares of the company’s stock, valued at $1,370,440.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,149 shares of company stock valued at $236,742. 4.60% of the stock is owned by corporate insiders.
West Corporation (WSTC) opened at 23.37 on Wednesday. The company has a market capitalization of $1.96 billion, a P/E ratio of 9.24 and a beta of 1.59. West Corporation has a 12-month low of $19.64 and a 12-month high of $28.57. The company has a 50-day moving average of $23.35 and a 200 day moving average of $23.76.
West Corporation (NASDAQ:WSTC) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. West Corporation had a net margin of 9.39% and a negative return on equity of 59.08%. The business had revenue of $574.39 million during the quarter, compared to analysts’ expectations of $579.40 million. Equities research analysts forecast that West Corporation will post $2.92 earnings per share for the current fiscal year.
West Corporation Profile
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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