Bank of Montreal Can acquired a new stake in shares of Wex Inc. (NYSE:WEX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 155,998 shares of the company’s stock, valued at approximately $13,832,000.
Several other large investors also recently added to or reduced their stakes in WEX. LS Investment Advisors LLC raised its stake in Wex by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock valued at $207,000 after buying an additional 993 shares in the last quarter. Capstone Asset Management Co. raised its stake in Wex by 3.5% in the second quarter. Capstone Asset Management Co. now owns 3,274 shares of the company’s stock valued at $290,000 after buying an additional 110 shares in the last quarter. Oakbrook Investments LLC raised its stake in Wex by 17.9% in the second quarter. Oakbrook Investments LLC now owns 3,950 shares of the company’s stock valued at $350,000 after buying an additional 600 shares in the last quarter. Rafferty Asset Management LLC raised its stake in Wex by 49.5% in the first quarter. Rafferty Asset Management LLC now owns 5,107 shares of the company’s stock valued at $426,000 after buying an additional 1,691 shares in the last quarter. Finally, Parametrica Management Ltd bought a new stake in Wex during the second quarter valued at $449,000. Institutional investors own 93.03% of the company’s stock.
Shares of Wex Inc. (NYSE:WEX) traded up 0.79% during mid-day trading on Friday, reaching $108.09. The company had a trading volume of 319,911 shares. The stock has a 50 day moving average of $101.95 and a 200-day moving average of $92.49. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 47.41 and a beta of 1.89. Wex Inc. has a one year low of $54.42 and a one year high of $108.86.
Wex (NYSE:WEX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $233.90 million for the quarter, compared to analysts’ expectations of $221.64 million. Wex had a net margin of 10.10% and a return on equity of 14.77%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. Equities analysts predict that Wex Inc. will post $4.31 EPS for the current year.
A number of equities research analysts recently commented on WEX shares. TheStreet lowered Wex from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Credit Agricole SA upgraded Wex from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $97.00 to $115.00 in a research report on Thursday, September 1st. Zacks Investment Research upgraded Wex from a “hold” rating to a “strong-buy” rating and set a $107.00 price target on the stock in a research report on Tuesday, July 12th. SunTrust Banks Inc. started coverage on Wex in a research report on Friday, June 24th. They set a “neutral” rating and a $100.00 price target on the stock. Finally, Morgan Stanley increased their price target on Wex from $94.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Wex has an average rating of “Hold” and an average target price of $95.13.
In other Wex news, SVP Stephen R. Crowley sold 1,808 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $90.95, for a total transaction of $164,437.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Melissa D. Smith sold 5,910 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $93.03, for a total transaction of $549,807.30. Following the sale, the chief executive officer now directly owns 55,820 shares in the company, valued at approximately $5,192,934.60. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.
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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