Oppenheimer & Co. Inc. Grows Stake in WEX Inc (WEX)

Oppenheimer & Co. Inc. lifted its holdings in WEX Inc (NYSE:WEX) by 69.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,614 shares of the business services provider’s stock after acquiring an additional 2,703 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in WEX were worth $1,328,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Wendell David Associates Inc. increased its stake in shares of WEX by 1.6% in the second quarter. Wendell David Associates Inc. now owns 18,240 shares of the business services provider’s stock worth $3,474,000 after acquiring an additional 285 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of WEX by 2.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the business services provider’s stock worth $2,057,000 after acquiring an additional 300 shares during the period. Aperio Group LLC increased its stake in shares of WEX by 2.6% in the second quarter. Aperio Group LLC now owns 13,689 shares of the business services provider’s stock worth $2,607,000 after acquiring an additional 347 shares during the period. HM Payson & Co. increased its stake in shares of WEX by 4.2% in the second quarter. HM Payson & Co. now owns 8,903 shares of the business services provider’s stock worth $1,696,000 after acquiring an additional 360 shares during the period. Finally, Cutler Group LP increased its stake in shares of WEX by 133.3% in the second quarter. Cutler Group LP now owns 700 shares of the business services provider’s stock worth $133,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 99.12% of the company’s stock.

WEX stock opened at $172.85 on Friday. The firm has a market cap of $7.45 billion, a P/E ratio of 24.87, a PEG ratio of 1.52 and a beta of 1.73. The company has a current ratio of 1.50, a quick ratio of 1.44 and a debt-to-equity ratio of 1.16. WEX Inc has a one year low of $118.40 and a one year high of $203.49.

WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, October 31st. The business services provider reported $2.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.12 by $0.07. The company had revenue of $382.70 million for the quarter, compared to analyst estimates of $375.15 million. WEX had a net margin of 15.63% and a return on equity of 16.92%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business earned $1.43 earnings per share. Research analysts predict that WEX Inc will post 7.61 earnings per share for the current year.

A number of analysts have recently weighed in on WEX shares. Wolfe Research started coverage on shares of WEX in a research note on Tuesday, July 17th. They issued a “market perform” rating on the stock. Citigroup raised their price target on shares of WEX from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, July 20th. SunTrust Banks restated a “buy” rating and set a $215.00 price target on shares of WEX in a research report on Friday, August 3rd. Morgan Stanley raised their price target on shares of WEX from $188.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, August 3rd. Finally, Zacks Investment Research upgraded shares of WEX from a “hold” rating to a “buy” rating and set a $211.00 price target on the stock in a research report on Saturday, October 13th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $198.80.

In related news, CFO Roberto Simon sold 4,137 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $189.05, for a total transaction of $782,099.85. Following the sale, the chief financial officer now owns 9,921 shares in the company, valued at $1,875,565.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jack Vanwoerkom sold 4,376 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $187.52, for a total transaction of $820,587.52. Following the sale, the director now owns 7,705 shares in the company, valued at approximately $1,444,841.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,335 shares of company stock worth $3,461,862. 4.57% of the stock is owned by company insiders.

WEX Profile

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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