WEX Inc. (WEX) Holdings Boosted by American Century Companies Inc.
American Century Companies Inc. grew its stake in shares of WEX Inc. (NYSE:WEX) by 6.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,476 shares of the business services provider’s stock after buying an additional 369 shares during the period. American Century Companies Inc.’s holdings in WEX were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Virginia Retirement Systems ET AL boosted its holdings in WEX by 7.4% during the second quarter. Virginia Retirement Systems ET AL now owns 13,100 shares of the business services provider’s stock worth $1,366,000 after buying an additional 900 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in WEX by 1.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 45,991 shares of the business services provider’s stock worth $4,795,000 after buying an additional 843 shares during the last quarter. Marshall Wace North America L.P. bought a new position in WEX during the second quarter worth about $1,411,000. BB&T Securities LLC bought a new position in WEX during the second quarter worth about $244,000. Finally, Blair William & Co. IL boosted its holdings in WEX by 1.4% during the second quarter. Blair William & Co. IL now owns 349,140 shares of the business services provider’s stock worth $36,405,000 after buying an additional 4,961 shares during the last quarter.
Shares of WEX Inc. (WEX) opened at 109.71 on Tuesday. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 66.17 and a beta of 1.80. The company has a 50-day moving average price of $106.17 and a 200-day moving average price of $105.09. WEX Inc. has a 12 month low of $97.26 and a 12 month high of $122.91.
WEX (NYSE:WEX) last announced its earnings results on Thursday, July 27th. The business services provider reported $1.26 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $293.91 million. During the same quarter in the prior year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. Analysts forecast that WEX Inc. will post $5.27 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on the company. Goldman Sachs Group, Inc. (The) raised WEX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $114.00 to $126.00 in a research report on Monday, September 11th. Credit Suisse Group reaffirmed an “outperform” rating on shares of WEX in a research report on Tuesday, September 5th. BidaskClub raised WEX from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Raymond James Financial, Inc. assumed coverage on WEX in a research report on Friday, August 25th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, TheStreet lowered WEX from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. WEX currently has an average rating of “Buy” and a consensus target price of $121.91.
In related news, Director James Neary sold 2,390,000 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP George W. Hogan sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $110.00, for a total value of $495,000.00. Following the transaction, the senior vice president now directly owns 15,615 shares in the company, valued at $1,717,650. 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. 0.86% of the stock is owned by company insiders.
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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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