Raymond James Trust N.A. bought a new stake in shares of WEX Inc. (NYSE:WEX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,943 shares of the business services provider’s stock, valued at approximately $202,000.

A number of other hedge funds also recently bought and sold shares of WEX. BlackRock Inc. grew its holdings in WEX by 15,129.9% during the 1st quarter. BlackRock Inc. now owns 3,044,752 shares of the business services provider’s stock valued at $315,131,000 after buying an additional 3,024,760 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in WEX by 24.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,524,870 shares of the business services provider’s stock valued at $367,539,000 after buying an additional 701,688 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in WEX by 15.9% during the 2nd quarter. TimesSquare Capital Management LLC now owns 1,653,414 shares of the business services provider’s stock valued at $172,401,000 after buying an additional 227,320 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in WEX by 22.9% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 917,182 shares of the business services provider’s stock valued at $99,679,000 after buying an additional 170,819 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in WEX by 12.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,537,401 shares of the business services provider’s stock valued at $160,305,000 after buying an additional 165,575 shares in the last quarter.

In related news, Director James Neary sold 2,390,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $102.25, for a total transaction of $244,377,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP George W. Hogan sold 4,500 shares of the stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $110.00, for a total value of $495,000.00. Following the sale, the senior vice president now owns 15,615 shares of the company’s stock, valued at approximately $1,717,650. The disclosure for this sale can be found here. Insiders have sold 2,396,500 shares of company stock valued at $245,082,500 in the last quarter. 0.86% of the stock is currently owned by company insiders.

A number of research firms have weighed in on WEX. Goldman Sachs Group, Inc. (The) raised WEX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $114.00 to $126.00 in a report on Monday, September 11th. Credit Suisse Group reaffirmed an “outperform” rating on shares of WEX in a report on Tuesday, September 5th. BidaskClub raised WEX from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Raymond James Financial, Inc. began coverage on WEX in a report on Friday, August 25th. They set an “outperform” rating and a $115.00 target price for the company. Finally, TheStreet lowered WEX from a “b-” rating to a “c+” rating in a report on Monday, August 14th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $121.91.

Shares of WEX Inc. (NYSE WEX) opened at 111.93 on Friday. The stock’s 50 day moving average price is $106.23 and its 200-day moving average price is $105.10. WEX Inc. has a 12 month low of $97.26 and a 12 month high of $122.91. The company has a market cap of $4.80 billion, a P/E ratio of 67.51 and a beta of 1.80.

WEX (NYSE:WEX) last released its earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. WEX had a return on equity of 13.03% and a net margin of 6.09%. The firm had revenue of $303.90 million during the quarter, compared to analysts’ expectations of $293.91 million. During the same quarter last year, the business posted $1.08 earnings per share. The firm’s revenue was up 29.9% on a year-over-year basis. Equities research analysts expect that WEX Inc. will post $5.27 earnings per share for the current year.

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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.

Institutional Ownership by Quarter for WEX (NYSE:WEX)

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