LS Investment Advisors LLC Increases Position in WEX Inc. (NYSE:WEX)
LS Investment Advisors LLC boosted its stake in shares of WEX Inc. (NYSE:WEX) by 18.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,022 shares of the business services provider’s stock after buying an additional 464 shares during the period. LS Investment Advisors LLC’s holdings in WEX were worth $315,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of WEX. Vanguard Group Inc. raised its position in WEX by 4.7% in the first quarter. Vanguard Group Inc. now owns 3,075,394 shares of the business services provider’s stock valued at $318,303,000 after buying an additional 137,427 shares during the last quarter. BlackRock Inc. increased its stake in shares of WEX by 15,129.9% in the first quarter. BlackRock Inc. now owns 3,044,752 shares of the business services provider’s stock valued at $315,131,000 after buying an additional 3,024,760 shares during the period. JPMorgan Chase & Co. increased its stake in shares of WEX by 53.8% in the first quarter. JPMorgan Chase & Co. now owns 2,823,182 shares of the business services provider’s stock valued at $292,200,000 after buying an additional 986,969 shares during the period. Janus Capital Management LLC increased its stake in shares of WEX by 0.9% in the first quarter. Janus Capital Management LLC now owns 2,779,833 shares of the business services provider’s stock valued at $287,713,000 after buying an additional 25,708 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in shares of WEX by 7.7% in the first quarter. Champlain Investment Partners LLC now owns 1,693,835 shares of the business services provider’s stock valued at $175,312,000 after buying an additional 121,155 shares during the period.
Shares of WEX Inc. (NYSE WEX) traded down 0.716% during mid-day trading on Thursday, reaching $106.085. The company had a trading volume of 55,066 shares. WEX Inc. has a 12-month low of $89.89 and a 12-month high of $122.91. The firm has a 50-day moving average of $107.84 and a 200-day moving average of $106.99. The company has a market capitalization of $4.55 billion, a P/E ratio of 63.984 and a beta of 1.80.
WEX (NYSE:WEX) last released its earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. WEX had a net margin of 6.09% and a return on equity of 13.03%. The firm had revenue of $303.90 million during the quarter, compared to analyst estimates of $293.91 million. During the same period last year, the business earned $1.08 earnings per share. The business’s revenue was up 29.9% on a year-over-year basis. On average, equities analysts anticipate that WEX Inc. will post $5.27 earnings per share for the current fiscal year.
Several brokerages have issued reports on WEX. BidaskClub upgraded WEX from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Barclays PLC increased their price target on WEX from $115.00 to $119.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. Zacks Investment Research raised WEX from a “sell” rating to a “hold” rating and set a $124.00 price target for the company in a research report on Friday, July 14th. William Blair reissued an “outperform” rating on shares of WEX in a research report on Wednesday, July 12th. Finally, Credit Suisse Group raised WEX from a “neutral” rating to an “outperform” rating in a research report on Thursday, April 27th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. WEX currently has an average rating of “Buy” and an average price target of $120.56.
In other WEX news, SVP George W. Hogan sold 4,500 shares of WEX stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 15,615 shares of the company’s stock, valued at approximately $1,717,650. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Hilary A. Rapkin sold 2,000 shares of WEX stock in a transaction that occurred on Monday, June 26th. The stock was 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 directly owns 15,424 shares of the company’s stock, valued at approximately $1,619,520. The disclosure for this sale can be found here. 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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