UBS Asset Management Americas Inc. cut its position in Wex Inc. (NYSE:WEX) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,612 shares of the company’s stock after selling 986 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.08% of Wex worth $2,714,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Atlanta Capital Management Co. L L C increased its position in Wex by 34.0% in the first quarter. Atlanta Capital Management Co. L L C now owns 2,047,845 shares of the company’s stock worth $170,708,000 after buying an additional 519,530 shares in the last quarter. JPMorgan Chase & Co. increased its position in Wex by 58.3% in the second quarter. JPMorgan Chase & Co. now owns 1,399,456 shares of the company’s stock worth $124,090,000 after buying an additional 515,569 shares in the last quarter. RS Investment Management Co. LLC purchased a new position in Wex during the second quarter worth approximately $26,645,000. Bank of Montreal Can purchased a new position in Wex during the second quarter worth approximately $13,832,000. Finally, TimesSquare Capital Management LLC increased its position in Wex by 11.2% in the first quarter. TimesSquare Capital Management LLC now owns 1,331,154 shares of the company’s stock worth $110,965,000 after buying an additional 134,035 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.
Shares of Wex Inc. (NYSE:WEX) traded down 0.447% on Thursday, hitting $105.795. The company’s stock had a trading volume of 120,237 shares. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 46.401 and a beta of 1.92. Wex Inc. has a 52 week low of $54.42 and a 52 week high of $108.86. The stock’s 50-day moving average price is $102.95 and its 200-day moving average price is $93.16.
Wex (NYSE:WEX) last released its earnings results on Wednesday, July 27th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The firm earned $233.90 million during the quarter, compared to the consensus estimate of $221.64 million. Wex had a return on equity of 14.77% and a net margin of 10.10%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. Equities analysts expect that Wex Inc. will post $4.31 earnings per share for the current fiscal year.
Several equities analysts have commented on WEX shares. Credit Agricole SA upgraded Wex from an “underperform” rating to an “outperform” rating and increased their price target for the company from $97.00 to $115.00 in a report on Thursday, September 1st. Zacks Investment Research downgraded Wex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 7th. SunTrust Banks Inc. started coverage on Wex in a report on Friday, June 24th. They set a “neutral” rating and a $100.00 price target on the stock. Barclays PLC upgraded Wex from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $80.00 to $98.00 in a report on Thursday, July 7th. Finally, TheStreet downgraded Wex from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $95.13.
In related news, SVP Stephen R. Crowley sold 1,808 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $90.95, for a total transaction of $164,437.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Melissa D. Smith sold 5,910 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $93.03, for a total value of $549,807.30. Following the sale, the chief executive officer now owns 55,820 shares of the company’s stock, valued at $5,192,934.60. 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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