Karp Capital Management Corp purchased a new stake in shares of West Corp (NASDAQ:WSTC) during the first quarter, Holdings Channel reports. The institutional investor purchased 8,685 shares of the technology company’s stock, valued at approximately $212,000.
Several other institutional investors also recently modified their holdings of the stock. James Investment Research Inc. bought a new position in shares of West Corp during the first quarter valued at $148,000. Creative Planning increased its position in shares of West Corp by 1,056.9% in the first quarter. Creative Planning now owns 11,569 shares of the technology company’s stock valued at $283,000 after buying an additional 10,569 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of West Corp during the first quarter valued at $295,000. State Board of Administration of Florida Retirement System bought a new position in shares of West Corp during the first quarter valued at $324,000. Finally, Nisa Investment Advisors LLC increased its position in shares of West Corp by 118.5% in the first quarter. Nisa Investment Advisors LLC now owns 14,860 shares of the technology company’s stock valued at $363,000 after buying an additional 8,060 shares during the last quarter. Hedge funds and other institutional investors own 71.06% of the company’s stock.
Shares of West Corp (WSTC) opened at 23.31 on Monday. The company has a market capitalization of $1.95 billion, a P/E ratio of 9.75 and a beta of 1.59. West Corp has a 12-month low of $19.64 and a 12-month high of $28.57. The company has a 50-day moving average price of $23.19 and a 200 day moving average price of $24.24.
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Several equities analysts have recently weighed in on the company. William Blair downgraded West Corp from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 10th. Deutsche Bank AG downgraded West Corp from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Wells Fargo & Company restated a “market perform” rating and set a $23.50 price target on shares of West Corp in a report on Wednesday, May 10th. Robert W. Baird downgraded West Corp from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $28.00 to $24.00 in a report on Wednesday, May 10th. Finally, Zacks Investment Research upgraded West Corp from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Friday, May 19th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. West Corp presently has a consensus rating of “Hold” and a consensus target price of $25.10.
In related news, insider Rodney J. Kempkes sold 1,160 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $23.15, for a total transaction of $26,854.00. Following the transaction, the insider now directly owns 62,275 shares of the company’s stock, valued at approximately $1,441,666.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rodney J. Kempkes sold 3,257 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $25.43, for a total value of $82,825.51. Following the transaction, the insider now directly owns 63,889 shares in the company, valued at $1,624,697.27. The disclosure for this sale can be found here. Insiders have sold a total of 7,799 shares of company stock worth $188,379 over the last ninety days. 4.60% of the stock is currently owned by corporate insiders.
West Corp 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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