Diversified Trust Co Has $540,000 Stake in WEX Inc. (WEX)
Diversified Trust Co boosted its stake in WEX Inc. (NYSE:WEX) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,175 shares of the business services provider’s stock after buying an additional 25 shares during the period. Diversified Trust Co’s holdings in WEX were worth $540,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of WEX during the fourth quarter valued at about $240,000. Dimensional Fund Advisors LP increased its stake in shares of WEX by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 317,777 shares of the business services provider’s stock valued at $35,465,000 after buying an additional 10,920 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of WEX during the fourth quarter valued at about $2,122,000. Guggenheim Capital LLC increased its stake in shares of WEX by 161.5% in the fourth quarter. Guggenheim Capital LLC now owns 12,441 shares of the business services provider’s stock valued at $1,388,000 after buying an additional 7,684 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of WEX by 8.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,510 shares of the business services provider’s stock valued at $727,000 after buying an additional 510 shares during the last quarter.
Shares of WEX Inc. (NYSE:WEX) traded up 0.97% during trading on Thursday, reaching $113.10. 82,575 shares of the company traded hands. The firm’s 50 day moving average price is $105.90 and its 200-day moving average price is $107.10. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 70.91 and a beta of 1.80. WEX Inc. has a 52 week low of $89.89 and a 52 week high of $122.91.
WEX (NYSE:WEX) last released its earnings results on Thursday, April 27th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.13. The company had revenue of $291.36 million for the quarter, compared to analyst estimates of $281.68 million. WEX had a net margin of 6.07% and a return on equity of 13.31%. The firm’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Equities analysts anticipate that WEX Inc. will post $5.33 EPS for the current fiscal year.
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WEX has been the subject of several analyst reports. Zacks Investment Research downgraded shares of WEX from a “hold” rating to a “sell” rating in a research note on Friday, April 7th. Credit Suisse Group raised shares of WEX from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 27th. Jefferies Group LLC reissued a “buy” rating and issued a $135.00 price objective on shares of WEX in a research note on Friday, May 5th. Deutsche Bank AG raised shares of WEX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $116.00 to $125.00 in a research note on Monday, June 5th. Finally, TheStreet raised shares of WEX from a “c” rating to a “b-” rating in a research note on Monday, June 5th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. WEX currently has an average rating of “Buy” and a consensus price target of $118.10.
In other news, SVP George W. Hogan sold 4,500 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $110.00, for a total value of $495,000.00. Following the sale, the senior vice president now directly owns 15,615 shares in the company, valued at approximately $1,717,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hilary A. Rapkin sold 2,000 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $105.00, for a total transaction of $210,000.00. Following the completion of the sale, the senior vice president now owns 15,424 shares in the company, valued at $1,619,520. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,635 shares of company stock worth $2,916,287. 0.86% of the stock is owned by company insiders.
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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