NGAM Advisors L.P. Buys 704 Shares of WEX Inc. (NYSE:WEX)
NGAM Advisors L.P. increased its stake in shares of WEX Inc. (NYSE:WEX) by 1.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 44,920 shares of the business services provider’s stock after buying an additional 704 shares during the period. NGAM Advisors L.P. owned 0.10% of WEX worth $4,683,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in WEX by 4.7% in the first quarter. Vanguard Group Inc. now owns 3,075,394 shares of the business services provider’s stock worth $318,303,000 after buying an additional 137,427 shares during the last quarter. BlackRock Inc. boosted its stake in WEX by 15,129.9% in the first quarter. BlackRock Inc. now owns 3,044,752 shares of the business services provider’s stock worth $315,131,000 after buying an additional 3,024,760 shares during the last quarter. JPMorgan Chase & Co. boosted 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 worth $292,200,000 after buying an additional 986,969 shares during the last quarter. Janus Capital Management LLC boosted its stake in WEX by 0.9% in the first quarter. Janus Capital Management LLC now owns 2,779,833 shares of the business services provider’s stock worth $287,713,000 after buying an additional 25,708 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in WEX by 7.7% in the first quarter. Champlain Investment Partners LLC now owns 1,693,835 shares of the business services provider’s stock worth $175,312,000 after buying an additional 121,155 shares during the last quarter.
WEX Inc. (WEX) opened at 104.41 on Monday. WEX Inc. has a 52 week low of $90.84 and a 52 week high of $122.91. The company has a 50-day moving average price of $107.84 and a 200-day moving average price of $106.99. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 62.97 and a beta of 1.80.
WEX (NYSE:WEX) last issued its earnings results on Thursday, July 27th. The business services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The firm had revenue of $303.90 million during 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%. The company’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Equities research analysts anticipate that WEX Inc. will post $5.27 EPS for the current year.
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A number of research firms have recently weighed in on WEX. William Blair reissued an “outperform” rating on shares of WEX in a research report on Wednesday, July 12th. Jefferies Group LLC reissued a “buy” rating and issued a $135.00 price objective on shares of WEX in a research report on Monday, May 15th. Credit Suisse Group raised WEX from a “neutral” rating to an “outperform” rating in a research report on Thursday, April 27th. Mizuho began coverage on WEX in a research report on Tuesday, June 27th. They issued a “buy” rating and a $115.00 price objective for the company. Finally, BidaskClub cut WEX from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. WEX presently has a consensus rating of “Buy” and an average price target of $120.56.
In other WEX news, SVP George W. Hogan sold 4,500 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were 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 owns 15,615 shares in the company, valued at $1,717,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Hilary A. Rapkin sold 2,000 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $105.00, for a total transaction of $210,000.00. Following the completion of the transaction, the senior vice president now owns 15,424 shares of the company’s stock, valued at approximately $1,619,520. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.
WEX Company Profile
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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