We study the long term Kepler light curve of the blazar W2R 1926+42 ( \sim 1.6 years ) which indicates a variety of variability properties during different intervals of observation . The normalized excess variance , F _ { var } ranges from 1.8 % in the quiescent phase and 43.3 % in the outburst phase . We find no significant deviation from linearity in the F _ { var } -flux relation . Time series analysis is conducted using the Fourier power spectrum and the wavelet analysis methods to study the power spectral density ( PSD ) shape , infer characteristic timescales and statistically significant quasi-periodic oscillations ( QPOs ) . A bending power law with an associated timescale of T _ { B } = 6.2 ^ { +6.4 } _ { -3.1 } hours is inferred in the PSD analysis . We obtain a black hole mass of M _ { \bullet } = ( 1.5 - 5.9 ) \times 10 ^ { 7 } M _ { \odot } for the first time using F _ { var } and the bend timescale for this source . From a mean outburst lifetime of days , we infer a distance from the jet base r \leq 1.75 pc indicating that the outburst originates due to a shock . A possible QPO peaked at 9.1 days and lasting 3.4 cycles is inferred from the wavelet analysis . Assuming that the QPO is a true feature , r = ( 152 - 378 ) ~ { } GM _ { \bullet } / c ^ { 2 } and supported by the other timing analysis products such as a weighted mean PSD slope of -1.5 \pm 0.2 from the PSD analysis , we argue that the observed variability and the weak and short duration QPO could be due to jet based processes including orbital features in a relativistic helical jet and others such as shocks and turbulence .