West Corp. (NASDAQ:WSTC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
According to Zacks, “West Corporation offers communication services. The Company provides services which include conferencing and collaboration, unified communications, alerts and notifications, emergency communications, business process outsourcing and telephony/interconnect services. It operates primarily in the United States, Canada, Europe, the Middle East, Asia Pacific, Latin America and South America. West Corporation is headquartered in Omaha, Nebraska. “
Separately, Deutsche Bank AG upped 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. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $26.00.
Shares of West Corp. (NASDAQ:WSTC) traded up 0.32% during trading on Thursday, hitting $21.99. The stock had a trading volume of 42,272 shares. West Corp. has a 1-year low of $17.26 and a 1-year high of $26.52. The firm’s 50 day moving average is $22.58 and its 200 day moving average is $21.95. The company has a market cap of $1.82 billion, a PE ratio of 9.81 and a beta of 1.50.
West Corp. (NASDAQ:WSTC) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. West Corp. had a negative return on equity of 44.40% and a net margin of 8.24%. The business had revenue of $582.40 million for the quarter, compared to the consensus estimate of $576.84 million. During the same quarter in the prior year, the business earned $0.79 earnings per share. West Corp.’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts anticipate that West Corp. will post $3.04 EPS for the current fiscal year.
In other news, insider Rodney J. Kempkes sold 2,780 shares of the company’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $22.25, for a total value of $61,855.00. Following the transaction, the insider now owns 73,592 shares of the company’s stock, valued at $1,637,422. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Scott Etzler sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $360,000.00. Following the completion of the transaction, the insider now directly owns 206,999 shares in the company, valued at approximately $4,967,976. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. boosted its position in West Corp. by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,266,455 shares of the company’s stock worth $28,901,000 after buying an additional 18,750 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in West Corp. by 4.8% in the first quarter. TIAA CREF Investment Management LLC now owns 247,128 shares of the company’s stock worth $5,639,000 after buying an additional 11,253 shares in the last quarter. Wellington Management Group LLP boosted its position in West Corp. by 24.4% in the first quarter. Wellington Management Group LLP now owns 473,977 shares of the company’s stock worth $10,817,000 after buying an additional 92,969 shares in the last quarter. Teachers Advisors Inc. boosted its position in West Corp. by 28.6% in the first quarter. Teachers Advisors Inc. now owns 102,692 shares of the company’s stock worth $2,343,000 after buying an additional 22,867 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in West Corp. by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 1,073,185 shares of the company’s stock worth $24,490,000 after buying an additional 11,560 shares in the last quarter. 55.09% of the stock is currently owned by institutional investors and hedge funds.
About West Corp.
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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