Engineers Gate Manager LP Purchases New Position in West Corporation (WSTC)

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.

Institutional Ownership by Quarter for West Corporation (NASDAQ:WSTC)

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