West Corporation (WSTC) Position Trimmed by Martingale Asset Management L P
Martingale Asset Management L P reduced its position in West Corporation (NASDAQ:WSTC) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,550 shares of the technology company’s stock after selling 604 shares during the quarter. Martingale Asset Management L P owned 0.14% of West Corporation worth $2,672,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of WSTC. SG Americas Securities LLC purchased a new stake in West Corporation in the 2nd quarter worth about $25,485,000. Gamco Investors INC. ET AL purchased a new stake in West Corporation in the 2nd quarter worth about $18,341,000. JPMorgan Chase & Co. raised its position in West Corporation by 37.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,240,742 shares of the technology company’s stock worth $52,254,000 after purchasing an additional 605,700 shares during the period. Vanguard Group Inc. raised its position in West Corporation by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 5,671,163 shares of the technology company’s stock worth $138,489,000 after purchasing an additional 544,296 shares during the period. Finally, Cowen Group Inc. purchased a new stake in West Corporation in the 1st quarter worth about $8,783,000. 67.38% of the stock is currently owned by institutional investors.
Shares of West Corporation (NASDAQ:WSTC) opened at 23.38 on Monday. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 9.25 and a beta of 1.59. West Corporation has a 52-week low of $19.64 and a 52-week high of $28.57. The company has a 50-day moving average of $23.36 and a 200-day moving average of $23.74.
West Corporation (NASDAQ:WSTC) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $574.39 million for the quarter, compared to analyst estimates of $579.40 million. West Corporation had a net margin of 9.39% and a negative return on equity of 59.08%. Equities research analysts anticipate that West Corporation will post $2.90 EPS for the current year.
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A number of analysts recently weighed in on WSTC shares. BidaskClub lowered shares of West Corporation from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 16th. Zacks Investment Research lowered shares of West Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.88.
In other news, insider Rodney J. Kempkes sold 3,385 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $23.36, for a total value of $79,073.60. Following the sale, the insider now directly owns 52,126 shares of the company’s stock, valued at approximately $1,217,663.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rodney J. Kempkes sold 3,382 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $23.35, for a total transaction of $78,969.70. Following the completion of the sale, the insider now directly owns 55,511 shares in the company, valued at $1,296,181.85. The disclosure for this sale can be found here. Insiders sold a total of 10,149 shares of company stock worth $236,742 over the last quarter. 4.60% of the stock is currently owned by company 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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