West Corp. (WSTC) Shares Up 2%
West Corp. (NASDAQ:WSTC) shares shot up 2% during trading on Wednesday . The stock traded as high as $21.80 and last traded at $21.66, with a volume of 196,353 shares traded. The stock had previously closed at $21.24.
Several research firms recently commented on WSTC. Zacks Investment Research cut West Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, July 7th. TheStreet upgraded West Corp. from a “sell” rating to a “hold” rating in a research note on Monday, March 21st. Morgan Stanley cut West Corp. from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $25.00 to $22.00 in a research note on Thursday, April 7th. William Blair reiterated a “buy” rating on shares of West Corp. in a research note on Friday, May 6th. Finally, Goldman Sachs Group Inc. cut West Corp. from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Monday, March 28th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $25.40.
The stock’s 50 day moving average is $20.90 and its 200 day moving average is $21.12. The stock has a market cap of $1.82 billion and a PE ratio of 9.03.
West Corp. (NASDAQ:WSTC) last posted its earnings results on Monday, May 2nd. The company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.04. The business had revenue of $570.80 million for the quarter. West Corp.’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. On average, equities analysts expect that West Corp. will post $3.03 EPS for the current fiscal year.
In other West Corp. news, insider Scott Etzler sold 10,000 shares of the stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $21.15, for a total transaction of $211,500.00. Following the transaction, the insider now directly owns 123,560 shares of the company’s stock, valued at $2,613,294. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas B. Barker bought 25,000 shares of the stock in a transaction on Tuesday, May 31st. The shares were acquired at an average cost of $21.09 per share, for a total transaction of $527,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,392,254 shares of the company’s stock, valued at $29,362,636.86. The disclosure for this purchase can be found here.
Other institutional investors have bought and sold shares of the company. Jennison Associates LLC increased its position in West Corp. by 33.0% in the fourth quarter. Jennison Associates LLC now owns 2,451,679 shares of the company’s stock valued at $52,883,000 after buying an additional 608,923 shares during the last quarter. Eagle Asset Management increased its stake in shares of West Corp. by 99.2% in the third quarter. Eagle Asset Management now owns 1,061,186 shares of the company’s stock valued at $23,770,000 after buying an additional 528,558 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of West Corp. by 16.6% in the fourth quarter. Wells Fargo & Company MN now owns 720,247 shares of the company’s stock valued at $15,536,000 after buying an additional 102,535 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of West Corp. by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 921,111 shares of the company’s stock valued at $19,870,000 after buying an additional 52,510 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of West Corp. by 42.7% in the fourth quarter. GSA Capital Partners LLP now owns 77,009 shares of the company’s stock valued at $1,661,000 after buying an additional 23,039 shares in the last quarter.
West Corporation (West) is a provider of technology-enabled communication services. The Company offers a range of communication and network infrastructure solutions that helps to manage or support communications. The Company operates in two segments: Unified Communications, including conferencing and collaboration, Internet protocol (IP) communications and interactive services, and Communication Services, including safety services, telecom services and specialized agent services.
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