Montag & Caldwell LLC Has $636,000 Position in WEX Inc. (NYSE:WEX)

Montag & Caldwell LLC boosted its holdings in WEX Inc. (NYSE:WEX) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,280 shares of the business services provider’s stock after purchasing an additional 115 shares during the quarter. Montag & Caldwell LLC’s holdings in WEX were worth $636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quantitative Systematic Strategies LLC acquired a new stake in WEX in the 2nd quarter valued at $696,000. Deutsche Bank AG grew its position in WEX by 7.2% in the 2nd quarter. Deutsche Bank AG now owns 27,398 shares of the business services provider’s stock valued at $5,312,000 after purchasing an additional 1,847 shares during the period. Psagot Investment House Ltd. acquired a new stake in WEX in the 2nd quarter valued at $1,179,000. Westpac Banking Corp boosted its holdings in WEX by 16.5% during the 2nd quarter. Westpac Banking Corp now owns 36,029 shares of the business services provider’s stock worth $6,986,000 after acquiring an additional 5,100 shares during the last quarter. Finally, JustInvest LLC boosted its holdings in WEX by 37.3% during the 2nd quarter. JustInvest LLC now owns 1,576 shares of the business services provider’s stock worth $306,000 after acquiring an additional 428 shares during the last quarter.

WEX traded down $0.71 during midday trading on Tuesday, hitting $165.26. The stock had a trading volume of 8,154 shares, compared to its average volume of 343,038. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.16 and a current ratio of 1.16. WEX Inc. has a 1 year low of $122.64 and a 1 year high of $234.64. The business has a fifty day moving average of $181.51 and a 200 day moving average of $197.81. The company has a market cap of $7.40 billion, a P/E ratio of -21.81, a price-to-earnings-growth ratio of 0.87 and a beta of 1.94.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, July 29th. The business services provider reported $2.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.56. WEX had a positive return on equity of 13.31% and a negative net margin of 20.38%. On average, equities research analysts anticipate that WEX Inc. will post 7.29 earnings per share for the current year.

A number of research firms have issued reports on WEX. Morgan Stanley cut their price objective on shares of WEX from $200.00 to $195.00 and set an “equal weight” rating on the stock in a report on Friday, July 30th. Mizuho lifted their target price on WEX from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, August 2nd. Cowen lowered their target price on WEX from $260.00 to $240.00 and set an “outperform” rating on the stock in a research note on Friday, July 30th. Credit Suisse Group began coverage on WEX in a research note on Tuesday, July 6th. They issued a “hold” rating and a $210.00 price objective on the stock. Finally, Barclays lowered their price objective on WEX from $270.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 2nd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, WEX presently has a consensus rating of “Buy” and an average price target of $228.42.

WEX Company Profile

WEX Inc provides financial technology services in North 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. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; premium fleet services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

Read More: Capital Gains

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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