Jupiter Asset Management Ltd. Has $11.83 Million Stake in WEX Inc (WEX)
Jupiter Asset Management Ltd. lifted its stake in shares of WEX Inc (NYSE:WEX) by 172.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,565 shares of the business services provider’s stock after acquiring an additional 37,736 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.14% of WEX worth $11,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. TRUE Private Wealth Advisors acquired a new stake in WEX in the third quarter valued at approximately $103,000. Cutler Group LP grew its stake in WEX by 133.3% in the second quarter. Cutler Group LP now owns 700 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 400 shares during the period. Parallel Advisors LLC acquired a new stake in WEX in the third quarter valued at approximately $166,000. NumerixS Investment Technologies Inc grew its stake in WEX by 150.0% in the second quarter. NumerixS Investment Technologies Inc now owns 1,000 shares of the business services provider’s stock valued at $191,000 after acquiring an additional 600 shares during the period. Finally, Hartford Investment Management Co. acquired a new stake in WEX in the second quarter valued at approximately $214,000. Institutional investors own 99.04% of the company’s stock.
A number of equities research analysts have commented on the company. Wells Fargo & Co raised WEX from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $190.00 to $200.00 in a research note on Thursday, November 1st. Zacks Investment Research raised WEX from a “hold” rating to a “buy” rating and set a $211.00 price objective for the company in a research note on Saturday, October 13th. Morgan Stanley raised their price objective on WEX from $188.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, August 3rd. Barclays assumed coverage on WEX in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $211.00 price objective for the company. Finally, SunTrust Banks reissued a “buy” rating and issued a $215.00 price objective on shares of WEX in a research note on Friday, August 3rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $202.90.
WEX (NYSE:WEX) last announced its earnings results on Wednesday, October 31st. The business services provider reported $2.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.12 by $0.07. The company had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $375.15 million. WEX had a return on equity of 16.92% and a net margin of 15.63%. WEX’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.43 earnings per share. As a group, research analysts predict that WEX Inc will post 7.59 EPS for the current year.
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.
Further Reading: Trading Strategy Methods and Types
Want to see what other hedge funds are holding WEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEX Inc (NYSE:WEX).
Receive News & Ratings for WEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEX and related companies with MarketBeat.com's FREE daily email newsletter.