Atlantic Trust Group LLC Raises Holdings in WEX Inc. (WEX)
Atlantic Trust Group LLC grew its holdings in shares of WEX Inc. (NYSE:WEX) by 7.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,012 shares of the business services provider’s stock after purchasing an additional 6,071 shares during the quarter. Atlantic Trust Group LLC owned about 0.21% of WEX worth $9,386,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of WEX. FNY Partners Fund LP bought a new position in WEX during the first quarter worth about $103,000. Glen Harbor Capital Management LLC boosted its position in WEX by 6.1% during the first quarter. Glen Harbor Capital Management LLC now owns 1,120 shares of the business services provider’s stock worth $116,000 after purchasing an additional 64 shares during the period. Tyers Asset Management LLC boosted its position in WEX by 6.1% during the first quarter. Tyers Asset Management LLC now owns 1,540 shares of the business services provider’s stock worth $159,000 after purchasing an additional 88 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in WEX by 32.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,688 shares of the business services provider’s stock worth $175,000 after purchasing an additional 410 shares during the period. Finally, First Bank & Trust boosted its position in WEX by 5.1% during the second quarter. First Bank & Trust now owns 1,686 shares of the business services provider’s stock worth $176,000 after purchasing an additional 82 shares during the period.
Shares of WEX Inc. (NYSE:WEX) opened at 105.88 on Thursday. The stock has a 50 day moving average of $106.90 and a 200-day moving average of $105.22. WEX Inc. has a one year low of $97.26 and a one year high of $122.91. The stock has a market capitalization of $4.54 billion, a P/E ratio of 63.86 and a beta of 1.80.
WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. WEX had a return on equity of 13.03% and a net margin of 6.09%. The company had revenue of $303.90 million during the quarter, compared to analysts’ expectations of $293.91 million. During the same period last year, the business posted $1.08 earnings per share. The firm’s revenue was up 29.9% compared to the same quarter last year. Equities analysts forecast that WEX Inc. will post $5.27 earnings per share for the current year.
In other WEX news, Director James Neary sold 2,390,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $102.25, for a total value of $244,377,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP George W. Hogan sold 4,500 shares of the stock in a transaction dated 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 $1,717,650. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,396,500 shares of company stock valued at $245,082,500. 0.86% of the stock is currently owned by company insiders.
A number of equities analysts have weighed in on WEX shares. Jefferies Group LLC reiterated a “buy” rating and set a $135.00 target price on shares of WEX in a research report on Monday, May 15th. Deutsche Bank AG upgraded shares of WEX from a “hold” rating to a “buy” rating and increased their target price for the stock from $116.00 to $125.00 in a research report on Monday, June 5th. TheStreet upgraded shares of WEX from a “c” rating to a “b-” rating in a research report on Monday, June 5th. BidaskClub lowered shares of WEX from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Mizuho started coverage on shares of WEX in a research report on Tuesday, June 27th. They set a “buy” rating and a $115.00 target price for the company. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $121.50.
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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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