West Corp. (WSTC) Sees Strong Trading Volume
West Corp. (NASDAQ:WSTC) shares 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 have commented on WSTC. William Blair reissued a “buy” rating on shares of West Corp. in a research note on Friday, May 6th. Deutsche Bank AG raised their price objective on West Corp. from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research cut West Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. West Corp. currently has a consensus rating of “Hold” and an average target price of $26.00.
The company has a market cap of $1.91 billion and a P/E ratio of 10.31. The firm’s 50-day moving average price is $21.99 and its 200-day moving average price is $21.68.
West Corp. (NASDAQ:WSTC) last released its earnings results on Monday, August 1st. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The company earned $582.40 million during the quarter, compared to the consensus estimate of $576.84 million. The company’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.79 EPS. Equities research analysts forecast that West Corp. will post $3.04 EPS for the current fiscal year.
The business also recently announced 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 3.88%. The ex-dividend date of this dividend is Thursday, August 18th.
In related news, CEO Thomas B. Barker bought 25,000 shares of the stock in a transaction dated Tuesday, May 31st. The stock was bought at an average price of $21.09 per share, with a total value of $527,250.00. Following the purchase, the chief executive officer now owns 1,392,254 shares in the company, valued at approximately $29,362,636.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott Etzler sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $360,000.00. Following the transaction, the insider now directly owns 206,999 shares of the company’s stock, valued at approximately $4,967,976. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in WSTC. Rhumbline Advisers raised its position 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 last quarter. Swiss National Bank raised 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 worth $1,301,000 after buying an additional 5,430 shares during the last quarter. Wells Fargo & Company MN raised its position 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 last quarter. West Family Investments Inc. raised its position 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 last quarter. Finally, Jennison Associates LLC raised 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 worth $52,883,000 after buying an additional 608,923 shares during the last quarter.
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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