American International Group Inc. increased its position in shares of WEX Inc (NYSE:WEX) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,641 shares of the business services provider’s stock after buying an additional 1,013 shares during the quarter. American International Group Inc.’s holdings in WEX were worth $11,671,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of WEX by 13.3% during the third quarter. JPMorgan Chase & Co. now owns 3,993,322 shares of the business services provider’s stock worth $452,522,000 after acquiring an additional 468,452 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in WEX by 7.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 206,735 shares of the business services provider’s stock worth $23,200,000 after acquiring an additional 15,109 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in WEX by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,917 shares of the business services provider’s stock worth $5,935,000 after acquiring an additional 1,211 shares in the last quarter. Crestwood Capital Management L.P. acquired a new position in WEX during the 3rd quarter worth $8,484,000. Finally, Janney Capital Management LLC grew its holdings in WEX by 45.8% during the 3rd quarter. Janney Capital Management LLC now owns 3,611 shares of the business services provider’s stock worth $405,000 after acquiring an additional 1,134 shares in the last quarter.
Several brokerages have weighed in on WEX. Mizuho reissued a “buy” rating and set a $185.00 price objective on shares of WEX in a report on Friday. Barclays reissued an “equal weight” rating and set a $170.00 price objective (up from $163.00) on shares of WEX in a report on Thursday. Wells Fargo & Co set a $160.00 price objective on shares of WEX and gave the stock a “hold” rating in a report on Thursday. Morgan Stanley reissued an “equal weight” rating and set a $159.00 price objective (up from $149.00) on shares of WEX in a report on Thursday. Finally, SunTrust Banks set a $175.00 price objective on shares of WEX and gave the stock a “buy” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $149.36.
In related news, insider Scott Robert Phillips sold 20,000 shares of WEX stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $127.68, for a total value of $2,553,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 9.00% of the company’s stock.
WEX Inc (NYSE WEX) opened at $154.57 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.71 and a quick ratio of 0.69. WEX Inc has a 52-week low of $97.26 and a 52-week high of $159.65. The stock has a market cap of $6,627.11, a PE ratio of 41.55, a PEG ratio of 1.57 and a beta of 1.91.
WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, February 21st. The business services provider reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.16. WEX had a net margin of 12.82% and a return on equity of 13.01%. The company had revenue of $331.30 million for the quarter, compared to the consensus estimate of $327.19 million. During the same period last year, the firm posted $1.28 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. research analysts anticipate that WEX Inc will post 6.83 earnings per share for the current year.
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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