West Corporation (NASDAQ:WSTC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in shares of West Corporation (NASDAQ:WSTC) by 0.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 301,577 shares of the technology company’s stock after selling 1,340 shares during the period. Principal Financial Group Inc. owned approximately 0.36% of West Corporation worth $7,364,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. First Quadrant L P CA boosted its position in shares of West Corporation by 71.3% in the first quarter. First Quadrant L P CA now owns 62,260 shares of the technology company’s stock worth $1,520,000 after buying an additional 25,921 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of West Corporation by 75.3% in the first quarter. Nationwide Fund Advisors now owns 86,922 shares of the technology company’s stock worth $2,123,000 after buying an additional 37,340 shares in the last quarter. James Investment Research Inc. bought a new position in shares of West Corporation during the first quarter worth approximately $148,000. Nisa Investment Advisors LLC boosted its position in shares of West Corporation by 118.5% in the first quarter. Nisa Investment Advisors LLC now owns 14,860 shares of the technology company’s stock worth $363,000 after buying an additional 8,060 shares in the last quarter. Finally, Creative Planning boosted its position in shares of West Corporation by 1,056.9% in the first quarter. Creative Planning now owns 11,569 shares of the technology company’s stock worth $283,000 after buying an additional 10,569 shares in the last quarter. 69.73% of the stock is currently owned by hedge funds and other institutional investors.

West Corporation (WSTC) opened at 23.29 on Wednesday. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 9.74 and a beta of 1.59. West Corporation has a 12 month low of $19.64 and a 12 month high of $28.57. The stock’s 50 day moving average price is $23.19 and its 200-day moving average price is $24.24.

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WSTC has been the topic of a number of recent research reports. Zacks Investment Research raised West Corporation from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Friday, May 19th. Deutsche Bank AG lowered West Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. William Blair lowered West Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 10th. Wells Fargo & Company reiterated a “market perform” rating and issued a $23.50 price target on shares of West Corporation in a research note on Wednesday, May 10th. Finally, Robert W. Baird lowered West Corporation from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $28.00 to $24.00 in a research note on Wednesday, May 10th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock 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 shares were sold at an average price of $23.15, for a total transaction of $26,854.00. Following the completion of the sale, the insider now 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 SEC, which can be accessed through this hyperlink. Also, insider Rodney J. Kempkes sold 3,382 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $23.27, for a total transaction of $78,699.14. Following the sale, the insider now directly owns 58,893 shares of the company’s stock, valued at approximately $1,370,440.11. The disclosure for this sale can be found here. Insiders have sold 7,799 shares of company stock valued at $188,379 in the last three months. Corporate insiders own 4.60% of the company’s stock.

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.

Institutional Ownership by Quarter for West Corporation (NASDAQ:WSTC)

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