513 Shares in WEX Inc (WEX) Acquired by TRUE Private Wealth Advisors
TRUE Private Wealth Advisors acquired a new position in WEX Inc (NYSE:WEX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 513 shares of the business services provider’s stock, valued at approximately $103,000.
Several other hedge funds and other institutional investors have also bought and sold shares of WEX. Millennium Management LLC raised its position in shares of WEX by 305.9% in the second quarter. Millennium Management LLC now owns 349,272 shares of the business services provider’s stock valued at $66,529,000 after purchasing an additional 263,217 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of WEX in the second quarter valued at approximately $34,029,000. Frontier Capital Management Co. LLC raised its position in shares of WEX by 18.8% in the second quarter. Frontier Capital Management Co. LLC now owns 868,459 shares of the business services provider’s stock valued at $165,424,000 after purchasing an additional 137,732 shares during the period. BlackRock Inc. raised its position in shares of WEX by 3.8% in the second quarter. BlackRock Inc. now owns 3,484,141 shares of the business services provider’s stock valued at $663,658,000 after purchasing an additional 128,910 shares during the period. Finally, Virginia Retirement Systems ET AL raised its position in shares of WEX by 1,603.3% in the second quarter. Virginia Retirement Systems ET AL now owns 102,200 shares of the business services provider’s stock valued at $19,467,000 after purchasing an additional 96,200 shares during the period. 99.32% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on WEX. Zacks Investment Research raised shares of WEX from a “hold” rating to a “buy” rating and set a $211.00 price target on the stock in a research report on Saturday, October 13th. Morgan Stanley boosted their price target on shares of WEX from $172.00 to $188.00 and gave the company a “hold” rating in a research report on Thursday, July 19th. SunTrust Banks reissued a “buy” rating and issued a $215.00 price target on shares of WEX in a research report on Friday, August 3rd. Citigroup boosted their price target on shares of WEX from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Finally, Wolfe Research began coverage on shares of WEX in a research report on Tuesday, July 17th. They issued a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $194.80.
Shares of NYSE:WEX opened at $185.87 on Monday. The company has a market cap of $8.01 billion, a P/E ratio of 39.55, a PEG ratio of 1.64 and a beta of 1.71. WEX Inc has a 12 month low of $118.40 and a 12 month high of $203.49. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.44 and a quick ratio of 1.44.
WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, August 2nd. The business services provider reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. The company had revenue of $370.88 million during the quarter, compared to analysts’ expectations of $366.21 million. WEX had a net margin of 14.61% and a return on equity of 15.61%. WEX’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share. As a group, equities research analysts anticipate that WEX Inc will post 7.57 earnings per share for the current year.
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.
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