Commonwealth Equity Services LLC purchased a new position in WEX Inc (NYSE:WEX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,348 shares of the business services provider’s stock, valued at approximately $387,000.
Several other large investors have also made changes to their positions in the company. Berman Capital Advisors LLC increased its position in shares of WEX by 617.4% during the second quarter. Berman Capital Advisors LLC now owns 165 shares of the business services provider’s stock worth $27,000 after acquiring an additional 142 shares during the last quarter. Citizens Financial Group Inc RI lifted its holdings in WEX by 334.4% during the 1st quarter. Citizens Financial Group Inc RI now owns 265 shares of the business services provider’s stock worth $28,000 after buying an additional 204 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in shares of WEX by 124.0% during the 1st quarter. Flagship Harbor Advisors LLC now owns 271 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 150 shares in the last quarter. Carmichael Hill & Associates Inc. bought a new position in shares of WEX in the 2nd quarter worth about $33,000. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of WEX by 40.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 236 shares of the business services provider’s stock worth $39,000 after purchasing an additional 68 shares during the last quarter. 98.73% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of WEX from $172.00 to $189.00 and gave the company a “neutral” rating in a report on Monday, August 17th. Wells Fargo & Company lowered WEX from an “overweight” rating to an “equal weight” rating and set a $155.00 price target for the company. in a research report on Monday, August 3rd. Goldman Sachs Group initiated coverage on shares of WEX in a research report on Tuesday, July 14th. They issued a “neutral” rating and a $164.00 price target for the company. Morgan Stanley upped their price objective on WEX from $160.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Finally, Mizuho started coverage on WEX in a research note on Wednesday, August 26th. They issued a “buy” rating and a $225.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $198.35.
NYSE:WEX opened at $146.31 on Wednesday. The business’s fifty day moving average is $159.51 and its 200 day moving average is $145.40. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 51.16, a PEG ratio of 1.68 and a beta of 1.84. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.38 and a current ratio of 1.38. WEX Inc has a 52-week low of $71.12 and a 52-week high of $236.51.
WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, July 30th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.03). The business had revenue of $347.08 million during the quarter, compared to the consensus estimate of $353.05 million. WEX had a net margin of 7.47% and a return on equity of 16.87%. Equities analysts predict that WEX Inc will post 5.83 EPS for the current fiscal year.
In other WEX news, CFO Roberto Simon sold 13,568 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $165.54, for a total value of $2,246,046.72. Following the completion of the sale, the chief financial officer now owns 24,446 shares in the company, valued at approximately $4,046,790.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.76% of the company’s stock.
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 processing services.
Featured Article: What is the FTSE 100 index?
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.