Aperio Group LLC increased its stake in shares of WEX Inc (NYSE:WEX) by 3.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 14,129 shares of the business services provider’s stock after acquiring an additional 440 shares during the period. Aperio Group LLC’s holdings in WEX were worth $2,837,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cutler Group LP increased its holdings in shares of WEX by 133.3% during the 2nd quarter. Cutler Group LP now owns 700 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 400 shares during the last quarter. NumerixS Investment Technologies Inc increased its holdings in shares of WEX by 150.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,000 shares of the business services provider’s stock valued at $191,000 after acquiring an additional 600 shares during the last quarter. Winslow Evans & Crocker Inc. acquired a new position in shares of WEX during the 2nd quarter valued at about $206,000. Hartford Investment Management Co. acquired a new position in shares of WEX during the 2nd quarter valued at about $214,000. Finally, HPM Partners LLC acquired a new position in shares of WEX during the 2nd quarter valued at about $215,000. 99.42% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on WEX shares. Wolfe Research started coverage on WEX in a research note on Tuesday, July 17th. They set a “market perform” rating for the company. Morgan Stanley increased their target price on WEX from $172.00 to $188.00 and gave the company a “hold” rating in a research note on Thursday, July 19th. Citigroup increased their target price on WEX from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, July 20th. SunTrust Banks restated a “buy” rating and set a $215.00 target price on shares of WEX in a research note on Friday, August 3rd. Finally, Zacks Investment Research upgraded WEX from a “hold” rating to a “buy” rating and set a $211.00 target price for the company in a research note on Saturday, October 13th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $198.80.
In other news, CEO Melissa D. Smith sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $190.00, for a total value of $950,000.00. Following the sale, the chief executive officer now directly owns 72,544 shares in the company, valued at $13,783,360. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jack Vanwoerkom sold 4,376 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $187.52, for a total value of $820,587.52. Following the completion of the sale, the director now owns 7,705 shares in the company, valued at $1,444,841.60. The disclosure for this sale can be found here. Insiders own 4.57% of the company’s stock.
Shares of NYSE:WEX opened at $169.15 on Tuesday. WEX Inc has a twelve month low of $118.40 and a twelve month high of $203.49. The company has a market cap of $7.45 billion, a P/E ratio of 35.99, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73. The company has a quick ratio of 1.44, a current ratio of 1.50 and a debt-to-equity ratio of 1.16.
WEX (NYSE:WEX) last issued its quarterly earnings results on Wednesday, October 31st. The business services provider reported $2.19 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.92% and a net margin of 15.63%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.43 earnings per share. On average, equities research analysts forecast that WEX Inc will post 7.61 earnings per share for the current fiscal year.
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WEX Company 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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