Bath Savings Trust Co lifted its stake in WEX Inc. (NYSE:WEX – Free Report) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,324 shares of the business services provider’s stock after buying an additional 135 shares during the period. Bath Savings Trust Co owned approximately 0.06% of WEX worth $4,975,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. FinTrust Capital Advisors LLC purchased a new position in WEX during the 4th quarter worth $25,000. Headlands Technologies LLC purchased a new position in WEX during the 1st quarter worth $26,000. Fred Alger Management LLC purchased a new position in WEX during the 3rd quarter worth $34,000. International Assets Investment Management LLC purchased a new position in WEX during the 1st quarter worth $35,000. Finally, Global Retirement Partners LLC grew its position in WEX by 41.1% during the 1st quarter. Global Retirement Partners LLC now owns 213 shares of the business services provider’s stock worth $36,000 after purchasing an additional 62 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have recently commented on WEX. Robert W. Baird raised their target price on shares of WEX from $236.00 to $252.00 in a research note on Friday, July 28th. Mizuho raised their target price on shares of WEX from $200.00 to $225.00 in a research note on Monday, July 31st. StockNews.com began coverage on shares of WEX in a research note on Thursday, August 17th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised their target price on shares of WEX from $218.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 22nd. Finally, Credit Suisse Group raised their target price on shares of WEX from $195.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $213.38.
Insiders Place Their Bets
In other news, insider Melanie J. Tinto sold 4,601 shares of WEX stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $182.74, for a total transaction of $840,786.74. Following the completion of the sale, the insider now directly owns 7,051 shares in the company, valued at $1,288,499.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Robert Joseph Deshaies sold 1,000 shares of WEX stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $196.22, for a total transaction of $196,220.00. Following the completion of the sale, the chief operating officer now directly owns 8,070 shares in the company, valued at $1,583,495.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Melanie J. Tinto sold 4,601 shares of WEX stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $182.74, for a total transaction of $840,786.74. Following the sale, the insider now owns 7,051 shares of the company’s stock, valued at $1,288,499.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,464 shares of company stock worth $9,197,026. Insiders own 1.10% of the company’s stock.
WEX Price Performance
Shares of NYSE WEX traded up $0.56 during midday trading on Monday, hitting $201.69. The company had a trading volume of 51,181 shares, compared to its average volume of 299,827. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 42.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.60. The business has a 50-day simple moving average of $193.25 and a two-hundred day simple moving average of $183.30. WEX Inc. has a twelve month low of $125.00 and a twelve month high of $204.05.
WEX (NYSE:WEX – Get Free Report) last announced its earnings results on Thursday, July 27th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.01). The business had revenue of $621.30 million for the quarter, compared to analyst estimates of $620.63 million. WEX had a return on equity of 31.60% and a net margin of 8.42%. Equities research analysts anticipate that WEX Inc. will post 12.27 earnings per share for the current year.
WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and tools to fleets to manage expenses and capital requirements.
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