Bank of Montreal Can Acquires 676 Shares of WEX Inc. (NYSE:WEX)
Bank of Montreal Can increased its position in shares of WEX Inc. (NYSE:WEX) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,193 shares of the business services provider’s stock after buying an additional 676 shares during the period. Bank of Montreal Can owned approximately 0.24% of WEX worth $10,864,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in WEX during the fourth quarter worth $240,000. Dimensional Fund Advisors LP raised its stake in WEX by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 317,777 shares of the business services provider’s stock worth $35,465,000 after buying an additional 10,920 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in WEX during the fourth quarter worth $2,122,000. Guggenheim Capital LLC raised its stake in WEX by 161.5% in the fourth quarter. Guggenheim Capital LLC now owns 12,441 shares of the business services provider’s stock worth $1,388,000 after buying an additional 7,684 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in WEX by 8.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,510 shares of the business services provider’s stock worth $727,000 after buying an additional 510 shares during the last quarter.
Shares of WEX Inc. (WEX) traded down 0.29% during mid-day trading on Friday, reaching $102.88. 347,766 shares of the company were exchanged. WEX Inc. has a 12 month low of $96.40 and a 12 month high of $122.91. The stock has a 50 day moving average price of $107.57 and a 200-day moving average price of $106.01. The stock has a market capitalization of $4.41 billion, a P/E ratio of 62.05 and a beta of 1.80.
WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $303.90 million for the quarter, compared to analysts’ expectations of $293.91 million. During the same period in the previous year, the company posted $1.08 EPS. WEX’s revenue was up 29.9% compared to the same quarter last year. Analysts predict that WEX Inc. will post $5.27 earnings per share for the current year.
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A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of WEX from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Barclays PLC increased their price objective on shares of WEX from $115.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. Zacks Investment Research upgraded shares of WEX from a “sell” rating to a “hold” rating and set a $124.00 price objective on the stock in a research note on Friday, July 14th. William Blair reiterated an “outperform” rating on shares of WEX in a research note on Wednesday, July 12th. Finally, Credit Suisse Group upgraded shares of WEX from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 27th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $121.50.
In other news, SVP George W. Hogan sold 4,500 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $110.00, for a total transaction of $495,000.00. Following the transaction, the senior vice president now directly owns 15,615 shares of the company’s stock, valued at approximately $1,717,650. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Neary sold 2,390,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $102.25, for a total transaction of $244,377,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,396,500 shares of company stock worth $245,082,500. Corporate insiders own 0.86% of the company’s stock.
WEX Company Profile
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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