Teachers Advisors LLC cut its stake in shares of WEX Inc. (NYSE:WEX) by 19.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,391 shares of the business services provider’s stock after selling 15,180 shares during the period. Teachers Advisors LLC owned about 0.15% of WEX worth $6,561,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of WEX. 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 valued at $106,000 after buying an additional 57 shares during the period. Glen Harbor Capital Management LLC boosted its stake 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 valued at $116,000 after buying an additional 64 shares in the last quarter. Tyers Asset Management LLC boosted its stake 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 valued at $159,000 after buying an additional 88 shares in the last quarter. First Bank & Trust boosted its stake 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 valued at $166,000 after buying an additional 41 shares in the last quarter. Finally, Huntington National Bank boosted its stake 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 valued at $174,000 after buying an additional 445 shares in the last quarter.
WEX Inc. (NYSE WEX) traded up 1.49% during midday trading on Friday, hitting $103.39. The stock had a trading volume of 370,452 shares. The stock’s 50-day moving average is $107.62 and its 200-day moving average is $106.57. WEX Inc. has a 1-year low of $93.57 and a 1-year high of $122.91. The stock has a market capitalization of $4.44 billion, a PE ratio of 62.36 and a beta of 1.80.
WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. WEX had a return on equity of 13.03% and a net margin of 6.09%. The business had revenue of $303.90 million for the quarter, compared to the consensus estimate of $293.91 million. During the same period in the previous year, the business earned $1.08 earnings per share. The business’s revenue was up 29.9% on a year-over-year basis. On average, equities research analysts anticipate that WEX Inc. will post $5.27 EPS for the current fiscal year.
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Several analysts have weighed in on WEX shares. Zacks Investment Research raised WEX from a “sell” rating to a “hold” rating in a report on Saturday, April 15th. Credit Suisse Group raised WEX from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $135.00 price target on shares of WEX in a research note on Friday, May 5th. Deutsche Bank AG raised WEX from a “hold” rating to a “buy” rating and upped their price target for the company from $116.00 to $125.00 in a research note on Monday, June 5th. Finally, TheStreet upgraded WEX from a “c” rating to a “b-” rating in a research report on Monday, June 5th. Four 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 a consensus target price of $120.56.
In other news, SVP George W. Hogan sold 4,500 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $110.00, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Hilary A. Rapkin sold 2,000 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the completion of the transaction, the senior vice president now owns 15,424 shares in the company, valued at $1,619,520. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.
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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