Jennison Associates LLC raised its position in shares of West Corporation (NASDAQ:WSTC) by 11.0% during the third quarter, Holdings Channel reports. The institutional investor owned 3,149,915 shares of the company’s stock after buying an additional 311,030 shares during the period. Jennison Associates LLC owned 3.81% of West Corporation worth $69,550,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in WSTC. Teacher Retirement System of Texas increased its stake in shares of West Corporation by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,403 shares of the company’s stock worth $126,000 after buying an additional 775 shares in the last quarter. BlackRock Inc. increased its stake in shares of West Corporation by 257.5% in the second quarter. BlackRock Inc. now owns 11,672 shares of the company’s stock worth $230,000 after buying an additional 8,407 shares in the last quarter. Laurion Capital Management LP acquired a new stake in shares of West Corporation during the second quarter worth approximately $238,000. Victory Capital Management Inc. increased its stake in shares of West Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 13,097 shares of the company’s stock worth $257,000 after buying an additional 1,961 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of West Corporation by 33.7% in the second quarter. Legal & General Group Plc now owns 17,785 shares of the company’s stock worth $346,000 after buying an additional 4,480 shares in the last quarter. 76.04% of the stock is owned by institutional investors and hedge funds.
West Corporation (NASDAQ:WSTC) opened at 24.68 on Friday. West Corporation has a one year low of $17.50 and a one year high of $25.85. The company has a 50-day moving average price of $24.99 and a 200-day moving average price of $23.18. The firm has a market cap of $2.05 billion, a PE ratio of 11.14 and a beta of 1.67.
West Corporation (NASDAQ:WSTC) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.76 EPS for the quarter, meeting analysts’ consensus estimates of $0.76. West Corporation had a negative return on equity of 45.79% and a net margin of 8.17%. The company earned $571.40 million during the quarter, compared to the consensus estimate of $573.71 million. During the same quarter in the prior year, the firm earned $0.80 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts predict that West Corporation will post $2.98 earnings per share for the current fiscal year.
WSTC has been the topic of a number of research analyst reports. Zacks Investment Research cut West Corporation from a “hold” rating to a “sell” rating in a report on Thursday, October 6th. RBC Capital Markets set a $26.00 target price on West Corporation and gave the company a “hold” rating in a report on Saturday, January 21st. Finally, William Blair reiterated a “buy” rating on shares of West Corporation in a report on Monday, November 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.00.
In related news, major shareholder Mary E. West acquired 1,622 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was bought at an average price of $21.79 per share, for a total transaction of $35,343.38. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Scott Etzler sold 4,882 shares of the stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $25.00, for a total value of $122,050.00. Following the sale, the insider now owns 162,058 shares of the company’s stock, valued at approximately $4,051,450. The disclosure for this sale can be found here. In the last quarter, insiders have bought 364,819 shares of company stock valued at $7,955,057 and have sold 30,047 shares valued at $723,482. 4.60% of the stock is currently owned by corporate insiders.
About West Corporation
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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