Hermes Investment Management Ltd. increased its position in shares of WEX Inc (NYSE:WEX) by 1.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 524,042 shares of the business services provider’s stock after buying an additional 7,373 shares during the period. Hermes Investment Management Ltd. owned about 1.23% of WEX worth $54,238,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in WEX by 41.2% in the third quarter. US Bancorp DE now owns 959 shares of the business services provider’s stock worth $104,000 after buying an additional 280 shares during the last quarter. Tyers Asset Management LLC bought a new position in WEX during the fourth quarter worth $162,000. First Bank & Trust bought a new position in WEX during the fourth quarter worth $174,000. Huntington National Bank boosted its position in WEX by 35.9% in the first quarter. Huntington National Bank now owns 1,684 shares of the business services provider’s stock worth $174,000 after buying an additional 445 shares during the last quarter. Finally, Clark Capital Management Group Inc. bought a new position in WEX during the fourth quarter worth $201,000. Hedge funds and other institutional investors own 95.09% of the company’s stock.
Shares of WEX Inc (NYSE:WEX) traded down 1.24% during midday trading on Friday, hitting $104.53. 375,855 shares of the stock were exchanged. The firm has a 50-day moving average of $104.43 and a 200-day moving average of $108.98. The company has a market capitalization of $4.47 billion, a P/E ratio of 70.63 and a beta of 1.90. WEX Inc has a 1-year low of $80.67 and a 1-year high of $122.91.
WEX (NYSE:WEX) last issued its earnings results on Monday, February 13th. The business services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.02. The firm earned $290.80 million during the quarter, compared to analyst estimates of $279.89 million. WEX had a net margin of 5.95% and a return on equity of 13.93%. The business’s revenue was up 36.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 earnings per share. On average, equities analysts expect that WEX Inc will post $5.33 EPS for the current year.
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A number of brokerages recently commented on WEX. Zacks Investment Research upgraded shares of WEX from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a research note on Tuesday, January 31st. TheStreet upgraded shares of WEX from a “hold” rating to a “buy” rating in a research note on Tuesday, December 27th. Finally, Barclays PLC dropped their price target on shares of WEX from $116.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, February 14th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $110.45.
In related news, Director Michael E. Dubyak sold 5,500 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $109.94, for a total value of $604,670.00. Following the completion of the sale, the director now directly owns 44,416 shares of the company’s stock, valued at $4,883,095.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is 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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