Public Employees Retirement System of Ohio increased its position in shares of WEX Inc (NYSE:WEX) by 0.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,182 shares of the business services provider’s stock after buying an additional 61 shares during the period. Public Employees Retirement System of Ohio’s holdings in WEX were worth $3,472,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in WEX. Cullen Frost Bankers Inc. acquired a new stake in WEX during the third quarter worth approximately $25,000. Atlantic Trust LLC increased its stake in shares of WEX by 40.8% in the 2nd quarter. Atlantic Trust LLC now owns 169 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 49 shares in the last quarter. Quest Capital Management Inc. ADV bought a new stake in shares of WEX in the 3rd quarter valued at $76,000. Advisory Services Network LLC lifted its position in shares of WEX by 30.6% during the 2nd quarter. Advisory Services Network LLC now owns 529 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 124 shares during the period. Finally, Nvwm LLC acquired a new position in shares of WEX during the 3rd quarter valued at $134,000. Institutional investors and hedge funds own 99.42% of the company’s stock.
In other WEX news, insider Nicola S. Morris sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $197.60, for a total value of $592,800.00. Following the transaction, the insider now owns 8,383 shares of the company’s stock, valued at $1,656,480.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Roberto Simon sold 7,651 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $200.03, for a total value of $1,530,429.53. Following the completion of the transaction, the chief financial officer now owns 16,902 shares of the company’s stock, valued at approximately $3,380,907.06. The disclosure for this sale can be found here. Insiders have sold 11,416 shares of company stock worth $2,273,024 over the last three months. 1.12% of the stock is owned by insiders.
A number of research firms have commented on WEX. Wolfe Research set a $240.00 price target on shares of WEX and gave the stock a “buy” rating in a report on Friday, November 1st. Raymond James initiated coverage on shares of WEX in a research note on Monday, September 30th. They issued a “market perform” rating and a $260.00 price target for the company. ValuEngine lowered shares of WEX from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Robert W. Baird raised shares of WEX from a “neutral” rating to an “outperform” rating and set a $234.00 price objective on the stock in a research report on Friday, November 1st. Finally, Citigroup raised their target price on WEX from $235.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. WEX has a consensus rating of “Buy” and a consensus target price of $227.87.
WEX opened at $197.06 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.30 and a quick ratio of 1.30. WEX Inc has a fifty-two week low of $131.35 and a fifty-two week high of $221.66. The firm has a market capitalization of $8.71 billion, a PE ratio of 25.79, a P/E/G ratio of 1.67 and a beta of 1.56. The company’s 50-day moving average is $199.41 and its 200 day moving average is $203.19.
WEX (NYSE:WEX) last posted its earnings results on Thursday, October 31st. The business services provider reported $2.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.35 by $0.24. The company had revenue of $459.96 million for the quarter, compared to analyst estimates of $460.00 million. WEX had a return on equity of 18.86% and a net margin of 3.95%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the company earned $2.23 earnings per share. As a group, analysts expect that WEX Inc will post 8.38 EPS for the current year.
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 processing services.
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