West Corp. (WSTC) Sees Strong Trading Volume
Shares of West Corp. (NASDAQ:WSTC) saw an uptick in trading volume on Tuesday . 217,168 shares were traded during mid-day trading, an increase of 14% from the previous session’s volume of 191,253 shares.The stock last traded at $23.48 and had previously closed at $23.58.
A number of brokerages recently issued reports on WSTC. Zacks Investment Research upgraded West Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, August 6th. Deutsche Bank AG raised their price target on West Corp. from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, William Blair restated a “buy” rating on shares of West Corp. in a research report on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $26.00.
The firm has a 50 day moving average of $21.87 and a 200-day moving average of $21.67. The firm has a market capitalization of $1.92 billion and a price-to-earnings ratio of 10.38.
West Corp. (NASDAQ:WSTC) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. During the same quarter last year, the company posted $0.79 EPS. The company had revenue of $582.40 million for the quarter, compared to analyst estimates of $576.84 million. West Corp.’s revenue was up 1.8% on a year-over-year basis. Analysts predict that West Corp. will post $3.04 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 22nd will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, August 18th.
In other West Corp. news, insider Scott Etzler sold 15,000 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $360,000.00. Following the transaction, the insider now directly owns 206,999 shares of the company’s stock, valued at $4,967,976. 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. Swiss National Bank increased its position in West Corp. by 9.9% in the fourth quarter. Swiss National Bank now owns 60,330 shares of the company’s stock valued at $1,301,000 after buying an additional 5,430 shares during the last quarter. Rhumbline Advisers boosted its stake in West Corp. by 3.6% in the fourth quarter. Rhumbline Advisers now owns 66,518 shares of the company’s stock worth $1,435,000 after buying an additional 2,335 shares during the period. New York State Common Retirement Fund boosted its stake in West Corp. by 2.4% in the fourth quarter. New York State Common Retirement Fund now owns 67,863 shares of the company’s stock worth $1,464,000 after buying an additional 1,618 shares during the period. Wells Fargo & Company MN boosted its stake in West Corp. by 16.6% in the fourth quarter. Wells Fargo & Company MN now owns 720,247 shares of the company’s stock worth $15,536,000 after buying an additional 102,535 shares during the period. Finally, West Family Investments Inc. boosted its stake in West Corp. by 18.0% in the fourth quarter. West Family Investments Inc. now owns 1,034,345 shares of the company’s stock worth $22,311,000 after buying an additional 157,923 shares during the period.
West Corporation (West) is a global 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 through four segments: Unified Communications Services, which includes collaboration services, Unified Communications as a Service (UCaaS) and telecom services; Safety Services, which includes 9-1-1 network services, 9-1-1 telephony systems and services, 9-1-1 solutions for enterprises and database management; Interactive Services, which includes notifications and mobility, interactive voice response (IVR) self-service, cloud contact center and professional services, and Specialized Agent Services, which includes healthcare advocacy services, cost management services and revenue generation.
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