Wells Fargo & Company MN Has $120.03 Million Position in WEX Inc. (WEX)

Wells Fargo & Company MN trimmed its stake in shares of WEX Inc. (NYSE:WEX) by 6.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,151,173 shares of the business services provider’s stock after selling 75,153 shares during the period. Wells Fargo & Company MN owned about 2.68% of WEX worth $120,034,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. TimesSquare Capital Management LLC grew its holdings in WEX by 15.9% during the second quarter. TimesSquare Capital Management LLC now owns 1,653,414 shares of the business services provider’s stock worth $172,401,000 after acquiring an additional 227,320 shares during the period. AMG National Trust Bank grew its holdings in WEX by 8.4% during the second quarter. AMG National Trust Bank now owns 7,286 shares of the business services provider’s stock worth $760,000 after acquiring an additional 566 shares during the period. Fiduciary Trust Co. acquired a new stake in WEX during the second quarter worth about $192,000. Atlantic Trust Group LLC grew its holdings in WEX by 7.2% during the second quarter. Atlantic Trust Group LLC now owns 90,012 shares of the business services provider’s stock worth $9,386,000 after acquiring an additional 6,071 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its holdings in WEX by 0.8% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,681 shares of the business services provider’s stock worth $592,000 after acquiring an additional 53 shares during the period.

In other WEX news, SVP George W. Hogan sold 4,500 shares of the business’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 transaction of $495,000.00. Following the transaction, the senior vice president now owns 15,615 shares in the company, valued at approximately $1,717,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Hilary A. Rapkin sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $105.00, for a total value of $210,000.00. Following the transaction, the senior vice president now owns 15,424 shares in the company, valued at approximately $1,619,520. The disclosure for this sale can be found here. Insiders have sold a total of 2,396,500 shares of company stock worth $245,082,500 in the last quarter. 0.86% of the stock is currently owned by insiders.

WEX Inc. (NYSE:WEX) opened at 108.31 on Monday. The firm’s 50-day moving average price is $106.62 and its 200-day moving average price is $105.26. WEX Inc. has a 12 month low of $97.26 and a 12 month high of $122.91. The stock has a market cap of $4.65 billion, a P/E ratio of 65.33 and a beta of 1.80.

WEX (NYSE:WEX) last released its earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $293.91 million. During the same quarter in the previous year, the firm posted $1.08 EPS. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. On average, analysts predict that WEX Inc. will post $5.27 earnings per share for the current year.

Several analysts recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of WEX in a report on Wednesday, July 12th. BidaskClub raised WEX from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Raymond James Financial, Inc. assumed coverage on WEX in a report on Friday, August 25th. They set an “outperform” rating and a $115.00 target price on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $135.00 target price on shares of WEX in a report on Monday, May 15th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $120.00 target price on shares of WEX in a report on Thursday, August 10th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. WEX presently has an average rating of “Buy” and a consensus price target 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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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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