Stephens Inc. AR raised its stake in shares of WEX Inc (NYSE:WEX) by 3.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 11,544 shares of the business services provider’s stock after purchasing an additional 389 shares during the period. Stephens Inc. AR’s holdings in WEX were worth $2,216,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of WEX. Ffcm LLC raised its holdings in WEX by 50.0% in the 4th quarter. Ffcm LLC now owns 210 shares of the business services provider’s stock worth $29,000 after acquiring an additional 70 shares during the period. Ipswich Investment Management Co. Inc. bought a new position in shares of WEX during the 4th quarter worth about $32,000. Advisory Services Network LLC increased its holdings in shares of WEX by 79.2% during the 4th quarter. Advisory Services Network LLC now owns 405 shares of the business services provider’s stock worth $57,000 after purchasing an additional 179 shares during the period. Enlightenment Research LLC bought a new position in shares of WEX during the 4th quarter worth about $98,000. Finally, Mondrian Capital Management LLC bought a new position in shares of WEX during the 4th quarter worth about $140,000. 99.70% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of WEX from $222.00 to $238.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Zacks Investment Research upgraded shares of WEX from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. William Blair restated an “outperform” rating on shares of WEX in a report on Tuesday, April 30th. Robert W. Baird assumed coverage on shares of WEX in a report on Thursday, April 4th. They set a “neutral” rating and a $220.00 price objective on the stock. Finally, BTIG Research set a $225.00 price objective on shares of WEX and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $203.67.
In other WEX news, insider David G. Cooper sold 167 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $186.05, for a total value of $31,070.35. Following the transaction, the insider now directly owns 14,674 shares in the company, valued at $2,730,097.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nicola S. Morris sold 992 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $184.05, for a total transaction of $182,577.60. Following the completion of the transaction, the insider now owns 11,848 shares in the company, valued at $2,180,624.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,569 shares of company stock worth $7,496,575. 4.57% of the stock is owned by company insiders.
Shares of WEX stock opened at $199.79 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.47 and a debt-to-equity ratio of 1.55. WEX Inc has a twelve month low of $131.35 and a twelve month high of $212.13. The stock has a market cap of $8.56 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.53 and a beta of 1.53.
WEX (NYSE:WEX) last issued its earnings results on Thursday, May 2nd. The business services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.19. WEX had a net margin of 8.84% and a return on equity of 17.88%. The business had revenue of $381.90 million for the quarter, compared to analyst estimates of $379.57 million. During the same period in the previous year, the business earned $1.81 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. Research analysts forecast that WEX Inc will post 8.64 earnings per share for the current year.
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.
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