Oak Ridge Investments LLC lessened its position in shares of WEX Inc. (NYSE:WEX) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 293,491 shares of the business services provider’s stock after selling 10,862 shares during the period. Oak Ridge Investments LLC owned approximately 0.68% of WEX worth $30,602,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WEX. Capstone Asset Management Co. grew its position in WEX by 8.5% during the first quarter. Capstone Asset Management Co. now owns 3,441 shares of the business services provider’s stock valued at $356,000 after acquiring an additional 270 shares during the period. Glen Harbor Capital Management LLC grew its position in WEX by 6.1% during the first quarter. Glen Harbor Capital Management LLC now owns 1,120 shares of the business services provider’s stock valued at $116,000 after acquiring an additional 64 shares during the period. Oregon Public Employees Retirement Fund grew its position in WEX by 2.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,472 shares of the business services provider’s stock valued at $1,394,000 after acquiring an additional 346 shares during the period. Great West Life Assurance Co. Can grew its position in WEX by 8.2% during the first quarter. Great West Life Assurance Co. Can now owns 23,620 shares of the business services provider’s stock valued at $2,444,000 after acquiring an additional 1,796 shares during the period. Finally, State Treasurer State of Michigan grew its position in WEX by 0.6% during the first quarter. State Treasurer State of Michigan now owns 15,600 shares of the business services provider’s stock valued at $1,615,000 after acquiring an additional 100 shares during the period.

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Shares of WEX Inc. (NYSE:WEX) traded up 2.43% on Monday, hitting $110.94. The company’s stock had a trading volume of 134,388 shares. The stock’s 50 day moving average price is $106.42 and its 200 day moving average price is $105.16. WEX Inc. has a 52 week low of $97.26 and a 52 week high of $122.91. The stock has a market capitalization of $4.76 billion, a P/E ratio of 66.91 and a beta of 1.80.

WEX (NYSE:WEX) last posted its earnings results on Thursday, July 27th. The business services provider reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.11. The firm 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%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 earnings per share. On average, analysts forecast that WEX Inc. will post $5.27 earnings per share for the current fiscal year.

WEX has been the subject of a number of research reports. Deutsche Bank AG raised WEX from a “hold” rating to a “buy” rating and boosted their price target for the company from $116.00 to $125.00 in a research report on Monday, June 5th. BidaskClub downgraded WEX from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Mizuho initiated coverage on WEX in a research report on Tuesday, June 27th. They set a “buy” rating and a $115.00 price target for the company. Jefferies Group LLC reissued a “buy” rating and set a $135.00 price target on shares of WEX in a research report on Monday, May 15th. Finally, Barclays PLC reissued a “hold” rating and set a $118.00 price target on shares of WEX in a research report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. WEX currently has a consensus rating of “Buy” and a consensus target price of $121.50.

In other WEX news, SVP George W. Hogan sold 4,500 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $110.00, for a total transaction of $495,000.00. Following the transaction, the senior vice president now directly owns 15,615 shares of the company’s stock, valued at $1,717,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Neary sold 2,390,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $102.25, for a total transaction of $244,377,500.00. The disclosure for this sale can be found here. Insiders have sold 2,396,500 shares of company stock worth $245,082,500 over the last three months. Company insiders own 0.86% of the company’s stock.

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)

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