1,131 Shares in WEX Inc (WEX) Acquired by HPM Partners LLC
HPM Partners LLC acquired a new position in WEX Inc (NYSE:WEX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,131 shares of the business services provider’s stock, valued at approximately $215,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Cutler Group LP increased its holdings in shares of WEX by 133.3% in the 2nd quarter. Cutler Group LP now owns 700 shares of the business services provider’s stock worth $133,000 after acquiring an additional 400 shares during the period. NumerixS Investment Technologies Inc increased its holdings in shares of WEX by 150.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,000 shares of the business services provider’s stock worth $191,000 after acquiring an additional 600 shares during the period. Winslow Evans & Crocker Inc. acquired a new stake in shares of WEX in the 2nd quarter worth about $206,000. Hartford Investment Management Co. acquired a new stake in shares of WEX in the 2nd quarter worth about $214,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of WEX in the 1st quarter worth about $258,000. 99.12% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of WEX from a “hold” rating to a “buy” rating and set a $211.00 price objective on the stock in a report on Saturday. SunTrust Banks reaffirmed a “buy” rating and issued a $215.00 price objective on shares of WEX in a report on Friday, August 3rd. Morgan Stanley raised their target price on shares of WEX from $188.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, August 3rd. Citigroup raised their target price on shares of WEX from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Finally, Wolfe Research started coverage on shares of WEX in a research note on Tuesday, July 17th. They set a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $194.80.
WEX (NYSE:WEX) last released its earnings results on Thursday, August 2nd. The business services provider reported $2.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.04. The firm had revenue of $370.88 million for 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 quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the company earned $1.26 EPS. Research analysts expect that WEX Inc will post 7.54 earnings per share for the current fiscal year.
In other news, CEO Melissa D. Smith sold 5,000 shares of WEX stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $190.00, for a total value of $950,000.00. Following the transaction, the chief executive officer now owns 72,544 shares of the company’s stock, valued at approximately $13,783,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hilary A. Rapkin sold 3,723 shares of WEX stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $188.57, for a total transaction of $702,046.11. Following the completion of the transaction, the insider now directly owns 12,544 shares in the company, valued at approximately $2,365,422.08. The disclosure for this sale can be found here. Insiders sold a total of 18,335 shares of company stock worth $3,461,862 in the last ninety days. Corporate insiders own 4.57% of the company’s stock.
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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