GAM Holding AG Buys Shares of 149,143 West Corporation (WSTC)
GAM Holding AG bought a new position in shares of West Corporation (NASDAQ:WSTC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 149,143 shares of the technology company’s stock, valued at approximately $3,478,000. GAM Holding AG owned approximately 0.18% of West Corporation as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. James Investment Research Inc. bought a new stake in shares of West Corporation during the first quarter worth $148,000. Karp Capital Management Corp bought a new stake in shares of West Corporation during the first quarter worth $212,000. Bowling Portfolio Management LLC bought a new stake in shares of West Corporation during the second quarter worth $213,000. BNP Paribas Arbitrage SA increased its stake in shares of West Corporation by 143.4% in the second quarter. BNP Paribas Arbitrage SA now owns 10,299 shares of the technology company’s stock worth $240,000 after buying an additional 6,068 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of West Corporation during the first quarter worth $253,000. 69.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of West Corporation (NASDAQ WSTC) opened at 23.36 on Friday. The stock has a market capitalization of $1.95 billion, a P/E ratio of 9.24 and a beta of 1.59. The company has a 50-day moving average of $23.34 and a 200-day moving average of $23.83. West Corporation has a 52 week low of $19.64 and a 52 week high of $28.57.
West Corporation (NASDAQ:WSTC) last released its earnings results on Thursday, August 3rd. The technology company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. West Corporation had a negative return on equity of 59.08% and a net margin of 9.39%. The firm had revenue of $574.39 million during the quarter, compared to analysts’ expectations of $579.40 million. On average, analysts anticipate that West Corporation will post $2.92 EPS for the current year.
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WSTC has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of West Corporation from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Friday, May 19th. Deutsche Bank AG downgraded shares of West Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. William Blair downgraded shares of West Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 10th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $23.50 target price on shares of West Corporation in a research note on Wednesday, May 10th. Finally, Robert W. Baird downgraded shares of West Corporation from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $28.00 to $24.00 in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $24.88.
In related news, insider Rodney J. Kempkes sold 1,160 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $23.15, for a total transaction of $26,854.00. Following the completion of the transaction, the insider now directly owns 62,275 shares of the company’s stock, valued at approximately $1,441,666.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rodney J. Kempkes sold 3,382 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $23.35, for a total value of $78,969.70. Following the transaction, the insider now directly owns 55,511 shares of the company’s stock, valued at $1,296,181.85. The disclosure for this sale can be found here. Insiders have sold a total of 7,924 shares of company stock valued at $184,523 over the last three months. 4.60% of the stock is currently owned by insiders.
West Corporation Company 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.
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