West Corp. (WSTC) Major Shareholder Gary L. West Buys 128,196 Shares
West Corp. (NASDAQ:WSTC) major shareholder Gary L. West acquired 128,196 shares of West Corp. stock in a transaction dated Tuesday, November 8th. The shares were bought at an average cost of $22.04 per share, with a total value of $2,825,439.84. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of West Corp. (NASDAQ:WSTC) traded up 1.4025% during trading on Thursday, reaching $23.0285. The company’s stock had a trading volume of 11,525 shares. West Corp. has a one year low of $17.26 and a one year high of $25.82. The firm has a market cap of $1.92 billion, a P/E ratio of 10.3966 and a beta of 1.55. The stock’s 50 day moving average is $21.44 and its 200 day moving average is $21.75.
West Corp. (NASDAQ:WSTC) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.76 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.76. West Corp. had a negative return on equity of 45.79% and a net margin of 8.17%. The firm earned $571.40 million during the quarter, compared to the consensus estimate of $573.71 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that West Corp. will post $2.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Monday, November 14th will be given a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.90 annualized dividend and a yield of 3.96%. West Corp.’s payout ratio is currently 40.54%.
A number of hedge funds have recently made changes to their positions in WSTC. Northern Trust Corp increased its stake in shares of West Corp. by 0.8% in the third quarter. Northern Trust Corp now owns 507,968 shares of the company’s stock valued at $11,216,000 after buying an additional 4,160 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of West Corp. by 0.9% in the third quarter. California State Teachers Retirement System now owns 91,421 shares of the company’s stock valued at $2,019,000 after buying an additional 800 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of West Corp. during the third quarter valued at $223,000. BlackRock Institutional Trust Company N.A. increased its stake in shares of West Corp. by 1.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,275,192 shares of the company’s stock valued at $28,156,000 after buying an additional 14,486 shares during the last quarter. Finally, Palisade Capital Management LLC NJ increased its stake in shares of West Corp. by 1.9% in the third quarter. Palisade Capital Management LLC NJ now owns 1,052,650 shares of the company’s stock valued at $23,243,000 after buying an additional 19,923 shares during the last quarter. Hedge funds and other institutional investors own 55.08% of the company’s stock.
Several analysts have recently commented on WSTC shares. Deutsche Bank AG raised their price objective on shares of West Corp. from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Zacks Investment Research raised shares of West Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, August 6th. Finally, William Blair reissued a “buy” rating on shares of West Corp. in a research report on Monday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $26.00.
West Corp. Company Profile
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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