Glenmede Trust Co. NA Has $242,000 Position in WEX Inc. (NYSE:WEX)

Glenmede Trust Co. NA continued to hold its position in shares of WEX Inc. (NYSE:WEX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,181 shares of the business services provider’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in WEX were worth $242,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. increased its position in shares of WEX by 5.9% in the first quarter. Whittier Trust Co. now owns 1,027 shares of the business services provider’s stock worth $106,000 after buying an additional 57 shares in the last quarter. Glen Harbor Capital Management LLC increased its position in shares of WEX by 6.1% in the first quarter. Glen Harbor Capital Management LLC now owns 1,120 shares of the business services provider’s stock worth $116,000 after buying an additional 64 shares in the last quarter. Tyers Asset Management LLC increased its position in shares of WEX by 6.1% in the first quarter. Tyers Asset Management LLC now owns 1,540 shares of the business services provider’s stock worth $159,000 after buying an additional 88 shares in the last quarter. First Bank & Trust increased its position in shares of WEX by 2.6% in the first quarter. First Bank & Trust now owns 1,604 shares of the business services provider’s stock worth $166,000 after buying an additional 41 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of WEX by 35.9% in the first quarter. Huntington National Bank now owns 1,684 shares of the business services provider’s stock worth $174,000 after buying an additional 445 shares in the last quarter.

Shares of WEX Inc. (NYSE:WEX) opened at 110.55 on Monday. The company has a market capitalization of $4.74 billion, a PE ratio of 69.31 and a beta of 1.80. WEX Inc. has a 12 month low of $89.89 and a 12 month high of $122.91. The stock has a 50 day moving average price of $103.14 and a 200-day moving average price of $107.51.

WEX (NYSE:WEX) last issued its earnings results on Thursday, April 27th. The business services provider reported $1.13 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.13. The business had revenue of $291.36 million for the quarter, compared to analyst estimates of $281.68 million. WEX had a net margin of 6.07% and a return on equity of 13.31%. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. Analysts forecast that WEX Inc. will post $5.32 EPS for the current year.

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A number of brokerages recently issued reports on WEX. William Blair restated an “outperform” rating on shares of WEX in a report on Wednesday, July 12th. Jefferies Group LLC restated a “buy” rating and set a $135.00 price target on shares of WEX in a report on Monday, May 15th. Credit Suisse Group upgraded WEX from a “neutral” rating to an “outperform” rating in a report on Thursday, April 27th. Mizuho began coverage on WEX in a report on Tuesday, June 27th. They set a “buy” rating and a $115.00 price target on the stock. Finally, TheStreet upgraded WEX from a “c” rating to a “b-” rating in a report on Monday, June 5th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. WEX currently has an average rating of “Buy” and an average price target of $117.70.

In related news, SVP Scott Robert Phillips sold 22,135 shares of WEX stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $99.90, for a total transaction of $2,211,286.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP George W. Hogan sold 4,500 shares of WEX stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $110.00, for a total transaction of $495,000.00. Following the transaction, the senior vice president now directly owns 15,615 shares in the company, valued at $1,717,650. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,635 shares of company stock worth $2,916,287. Corporate insiders own 0.86% of the company’s stock.

About WEX

WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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