WEX Inc (NYSE:WEX) Shares Acquired by Tower Research Capital LLC TRC

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Tower Research Capital LLC TRC raised its stake in shares of WEX Inc (NYSE:WEX) by 199.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 698 shares of the business services provider’s stock after acquiring an additional 465 shares during the period. Tower Research Capital LLC TRC’s holdings in WEX were worth $73,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of WEX by 3.9% during the first quarter. Wellington Management Group LLP now owns 4,098,464 shares of the business services provider’s stock valued at $428,493,000 after acquiring an additional 154,807 shares during the last quarter. BlackRock Inc. increased its position in shares of WEX by 0.3% during the first quarter. BlackRock Inc. now owns 3,918,428 shares of the business services provider’s stock valued at $409,670,000 after acquiring an additional 11,480 shares during the last quarter. Atlanta Capital Management Co. L L C increased its position in shares of WEX by 14.4% during the first quarter. Atlanta Capital Management Co. L L C now owns 2,539,215 shares of the business services provider’s stock valued at $265,475,000 after acquiring an additional 319,752 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of WEX by 42.4% during the first quarter. JPMorgan Chase & Co. now owns 1,528,613 shares of the business services provider’s stock valued at $159,817,000 after acquiring an additional 455,271 shares during the last quarter. Finally, State Street Corp increased its position in shares of WEX by 2.0% during the first quarter. State Street Corp now owns 1,033,137 shares of the business services provider’s stock valued at $108,014,000 after acquiring an additional 20,187 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

WEX has been the subject of a number of recent analyst reports. Deutsche Bank lifted their price target on shares of WEX from $150.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Robert W. Baird raised their price objective on shares of WEX from $132.00 to $152.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Citigroup lowered shares of WEX from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $195.00 in a research note on Tuesday, March 3rd. Barclays raised their price objective on shares of WEX from $135.00 to $147.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, SunTrust Banks raised their price objective on shares of WEX from $100.00 to $150.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. WEX presently has a consensus rating of “Hold” and an average price target of $199.69.

In other news, CFO Roberto Simon sold 9,251 shares of WEX stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $118.70, for a total value of $1,098,093.70. Following the transaction, the chief financial officer now directly owns 10,878 shares of the company’s stock, valued at approximately $1,291,218.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joel Alan Dearborn, Jr. sold 1,950 shares of WEX stock in a transaction on Monday, June 1st. The shares were sold at an average price of $154.00, for a total transaction of $300,300.00. Following the completion of the transaction, the insider now directly owns 3,439 shares in the company, valued at $529,606. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.

WEX stock opened at $162.66 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.42. WEX Inc has a twelve month low of $71.12 and a twelve month high of $236.51. The company’s 50 day moving average is $152.59 and its two-hundred day moving average is $167.61. The stock has a market cap of $6.77 billion, a P/E ratio of 107.01, a PEG ratio of 3.06 and a beta of 1.91.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, May 7th. The business services provider reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.24). WEX had a return on equity of 19.68% and a net margin of 3.76%. The company had revenue of $431.70 million for the quarter, compared to analyst estimates of $427.21 million. During the same period in the previous year, the business posted $1.72 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities research analysts predict that WEX Inc will post 6.35 earnings per share for the current year.

WEX Company Profile

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 processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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