World Asset Management Inc purchased a new position in shares of Wex Inc. (NYSE:WEX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,504 shares of the company’s stock, valued at approximately $271,000.
Other large investors also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Wex during the second quarter worth $9,257,000. Bank of Montreal Can bought a new stake in shares of Wex during the second quarter worth $13,832,000. RS Investment Management Co. LLC bought a new stake in shares of Wex during the second quarter worth $26,645,000. BlackRock Advisors LLC boosted its stake in shares of Wex by 10.1% in the second quarter. BlackRock Advisors LLC now owns 21,192 shares of the company’s stock worth $1,879,000 after buying an additional 1,945 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Wex by 132.7% in the second quarter. BNP Paribas Arbitrage SA now owns 18,689 shares of the company’s stock worth $1,657,000 after buying an additional 10,659 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.
Shares of Wex Inc. (NYSE:WEX) traded up 0.02% on Friday, reaching $109.06. 70,188 shares of the company were exchanged. The stock has a market capitalization of $4.66 billion, a PE ratio of 56.89 and a beta of 1.85. Wex Inc. has a 1-year low of $54.42 and a 1-year high of $114.59. The company has a 50-day moving average price of $105.51 and a 200 day moving average price of $98.06.
Wex (NYSE:WEX) last released its earnings results on Thursday, October 27th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.12. The company had revenue of $287.80 million for the quarter, compared to analyst estimates of $279.28 million. Wex had a net margin of 8.11% and a return on equity of 13.70%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 EPS. On average, analysts forecast that Wex Inc. will post $4.56 EPS for the current fiscal year.
WEX has been the subject of a number of recent analyst reports. upgraded shares of Wex from an “underperform” rating to an “outperform” rating and lifted their price target for the company from $97.00 to $115.00 in a research report on Thursday, September 1st. Jefferies Group reiterated a “buy” rating and set a $127.00 price target on shares of Wex in a research report on Sunday, October 23rd. Zacks Investment Research upgraded shares of Wex from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Thursday, September 29th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $120.00 price target (up from $101.00) on shares of Wex in a research report on Tuesday, November 1st. Finally, Credit Suisse Group AG cut shares of Wex from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $108.00 to $113.00 in a report on Monday, October 31st. They noted that the move was a valuation call. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Wex 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 company’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 in the company, valued at approximately $1,332,157.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael E. Dubyak sold 5,500 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $99.52, for a total transaction of $547,360.00. Following the completion of the transaction, the director now 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.