Teachers Advisors LLC Has $6.56 Million Position in WEX Inc. (NYSE:WEX)

Teachers Advisors LLC decreased its stake in WEX Inc. (NYSE:WEX) by 19.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in WEX by 53.8% in the first quarter. JPMorgan Chase & Co. now owns 2,823,182 shares of the business services provider’s stock valued at $292,200,000 after buying an additional 986,969 shares in the last quarter. Hermes Investment Management Ltd. increased its position in shares of WEX by 1.4% in the first quarter. Hermes Investment Management Ltd. now owns 524,042 shares of the business services provider’s stock valued at $54,238,000 after buying an additional 7,373 shares during the period. Bank of New York Mellon Corp increased its position in shares of WEX by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 409,069 shares of the business services provider’s stock valued at $42,339,000 after buying an additional 15,585 shares during the period. Principal Financial Group Inc. increased its position in shares of WEX by 2.4% in the first quarter. Principal Financial Group Inc. now owns 157,880 shares of the business services provider’s stock valued at $16,341,000 after buying an additional 3,641 shares during the period. Finally, Sei Investments Co. increased its position in shares of WEX by 18.2% in the first quarter. Sei Investments Co. now owns 140,924 shares of the business services provider’s stock valued at $14,586,000 after buying an additional 21,665 shares during the period.

Shares of WEX Inc. (NYSE:WEX) opened at 102.88 on Friday. WEX Inc. has a 12-month low of $96.40 and a 12-month high of $122.91. The firm has a market capitalization of $4.41 billion, a PE ratio of 62.05 and a beta of 1.80. The company has a 50-day moving average of $107.57 and a 200 day moving average of $106.01.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. The business had revenue of $303.90 million for the quarter, compared to the consensus estimate of $293.91 million. WEX had a net margin of 6.09% and a return on equity of 13.03%. WEX’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter last year, the company posted $1.08 earnings per share. On average, analysts predict that WEX Inc. will post $5.27 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This story was first posted by Community Financial News and is the property of of Community Financial News. If you are reading this story on another site, it was illegally copied and reposted in violation of United States and international trademark & copyright legislation. The original version of this story can be accessed at https://www.com-unik.info/2017/08/19/wex-inc-nysewex-position-cut-by-teachers-advisors-llc-updated-updated.html.

WEX has been the subject of several analyst reports. Credit Suisse Group upgraded shares of WEX from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 27th. Deutsche Bank AG upgraded shares of WEX from a “hold” rating to a “buy” rating and upped their target price for the company from $116.00 to $125.00 in a research note on Monday, June 5th. BidaskClub downgraded shares of WEX from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Jefferies Group LLC restated a “buy” rating and issued a $135.00 target price on shares of WEX in a research note on Monday, May 15th. Finally, Barclays PLC restated a “hold” rating and issued a $118.00 target price on shares of WEX in a research note on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. WEX currently has a consensus rating of “Buy” and an average target price of $121.50.

In other news, SVP Hilary A. Rapkin sold 2,000 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the sale, the senior vice president now owns 15,424 shares in the company, valued at $1,619,520. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP George W. Hogan sold 4,500 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $110.00, for a total value of $495,000.00. Following the completion of the transaction, the senior vice president now directly owns 15,615 shares of the company’s stock, valued at $1,717,650. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,396,500 shares of company stock worth $245,082,500. 0.86% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for WEX (NYSE:WEX)

What are top analysts saying about WEX Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for WEX Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit