Amalgamated Bank Sells 389 Shares of WEX Inc. (NYSE:WEX)

Amalgamated Bank lowered its stake in shares of WEX Inc. (NYSE:WEXGet Rating) by 1.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 32,674 shares of the business services provider’s stock after selling 389 shares during the period. Amalgamated Bank’s holdings in WEX were worth $5,831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC lifted its stake in WEX by 276.7% during the 1st quarter. CWM LLC now owns 162 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Core Alternative Capital bought a new position in WEX during the 1st quarter valued at about $31,000. Lazard Asset Management LLC bought a new position in WEX during the 1st quarter valued at about $44,000. Okabena Investment Services Inc. bought a new position in WEX during the 4th quarter valued at about $54,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in WEX by 111.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider’s stock valued at $170,000 after acquiring an additional 500 shares during the period. Institutional investors own 99.50% of the company’s stock.

WEX Trading Down 1.0 %

WEX stock opened at $146.39 on Monday. The firm has a 50 day moving average of $161.54 and a 200 day moving average of $163.78. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 34.20, a P/E/G ratio of 0.66 and a beta of 1.55. WEX Inc. has a 12-month low of $123.01 and a 12-month high of $197.70. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.52.

WEX (NYSE:WEXGet Rating) last released its earnings results on Thursday, July 28th. The business services provider reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.25. The company had revenue of $598.20 million during the quarter, compared to analyst estimates of $571.33 million. WEX had a net margin of 9.23% and a return on equity of 24.68%. The firm’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.93 EPS. As a group, research analysts predict that WEX Inc. will post 11.81 earnings per share for the current year.

Insider Buying and Selling

In other WEX news, insider Melanie J. Tinto sold 766 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $165.69, for a total transaction of $126,918.54. Following the completion of the sale, the insider now directly owns 6,353 shares of the company’s stock, valued at approximately $1,052,628.57. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other WEX news, COO Robert Joseph Deshaies sold 1,200 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $170.16, for a total transaction of $204,192.00. Following the completion of the sale, the chief operating officer now directly owns 8,827 shares of the company’s stock, valued at approximately $1,502,002.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Melanie J. Tinto sold 766 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $165.69, for a total transaction of $126,918.54. Following the sale, the insider now directly owns 6,353 shares of the company’s stock, valued at $1,052,628.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,730 shares of company stock valued at $460,494. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price target on shares of WEX in a research report on Thursday, June 2nd. Citigroup raised shares of WEX from a “neutral” rating to a “buy” rating and upped their price target for the company from $190.00 to $210.00 in a research report on Thursday, June 9th. Mizuho upped their price target on shares of WEX from $212.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Barclays reduced their price target on shares of WEX from $220.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company reduced their price target on shares of WEX from $210.00 to $194.00 and set an “overweight” rating for the company in a research report on Thursday, September 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.40.

About WEX

(Get Rating)

WEX Inc provides financial technology services in the United States and internationally. 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. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

Recommended Stories

Want to see what other hedge funds are holding WEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEX Inc. (NYSE:WEXGet Rating).

Institutional Ownership by Quarter for WEX (NYSE:WEX)

Receive News & Ratings for WEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEX and related companies with MarketBeat.com's FREE daily email newsletter.