Penserra Capital Management LLC reduced its position in shares of Wex Inc. (NYSE:WEX) by 22.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,820 shares of the company’s stock after selling 524 shares during the period. Penserra Capital Management LLC’s holdings in Wex were worth $196,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. LS Investment Advisors LLC raised its position in Wex by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock worth $207,000 after buying an additional 993 shares during the period. Raymond James Trust N.A. purchased a new position in Wex during the third quarter worth approximately $211,000. CrestPoint Capital Management LLC purchased a new position in Wex during the third quarter worth approximately $216,000. Glenmede Trust Co. NA raised its position in Wex by 3.1% in the second quarter. Glenmede Trust Co. NA now owns 2,481 shares of the company’s stock worth $219,000 after buying an additional 74 shares during the period. Finally, Huntington National Bank raised its position in Wex by 31.1% in the second quarter. Huntington National Bank now owns 2,680 shares of the company’s stock worth $238,000 after buying an additional 635 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Wex Inc. (NYSE:WEX) traded up 0.02% during midday trading on Friday, reaching $109.06. 69,988 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $105.45 and a 200-day moving average price of $97.92. The stock has a market cap of $4.66 billion, a P/E ratio of 56.89 and a beta of 1.85. Wex Inc. has a 52-week low of $54.42 and a 52-week high of $114.59.
Wex (NYSE:WEX) last released its earnings results on Thursday, October 27th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.13 by $0.12. Wex had a net margin of 8.11% and a return on equity of 13.70%. The firm had revenue of $287.80 million for the quarter, compared to analyst estimates of $279.28 million. During the same period last year, the firm earned $1.29 EPS. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. Analysts forecast that Wex Inc. will post $4.56 earnings per share for the current year.
A number of equities analysts have commented on WEX shares. Deutsche Bank AG boosted their price target on shares of Wex from $83.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, July 28th. Morgan Stanley boosted their price target on shares of Wex from $94.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. upgraded shares of Wex from an “underperform” rating to an “outperform” rating and boosted their price target for the company from $97.00 to $115.00 in a research report on Thursday, September 1st. Zacks Investment Research lowered shares of Wex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 7th. Finally, Jefferies Group reiterated a “buy” rating and set a $114.00 target price on shares of Wex in a research report on Tuesday, September 13th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $99.50.
In other Wex news, SVP George W. Hogan sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $103.88, for a total value of $202,566.00. Following the transaction, the senior vice president now directly owns 12,824 shares of the company’s stock, valued at approximately $1,332,157.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael E. Dubyak sold 5,500 shares of Wex stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $99.52, for a total transaction of $547,360.00. Following the sale, the director now directly owns 55,416 shares in the company, valued at $5,515,000.32. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company 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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