Teachers Advisors LLC trimmed its holdings in WEX Inc. (NYSE:WEX) by 32.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,614 shares of the business services provider’s stock after selling 20,777 shares during the period. Teachers Advisors LLC owned about 0.10% of WEX worth $4,443,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of WEX. UBS Asset Management Americas Inc. grew its stake in WEX by 23.4% in the first quarter. UBS Asset Management Americas Inc. now owns 23,782 shares of the business services provider’s stock valued at $2,461,000 after acquiring an additional 4,510 shares during the period. Ameriprise Financial Inc. boosted its position in shares of WEX by 3.4% during the first quarter. Ameriprise Financial Inc. now owns 108,832 shares of the business services provider’s stock worth $11,265,000 after buying an additional 3,624 shares during the period. Prudential Financial Inc. boosted its position in shares of WEX by 5.9% during the first quarter. Prudential Financial Inc. now owns 23,963 shares of the business services provider’s stock worth $2,480,000 after buying an additional 1,325 shares during the period. Alliancebernstein L.P. boosted its position in shares of WEX by 2.7% during the first quarter. Alliancebernstein L.P. now owns 25,395 shares of the business services provider’s stock worth $2,628,000 after buying an additional 670 shares during the period. Finally, AXA boosted its position in shares of WEX by 3.3% during the first quarter. AXA now owns 12,400 shares of the business services provider’s stock worth $1,283,000 after buying an additional 400 shares during the period.
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In other WEX news, SVP Hilary A. Rapkin sold 2,500 shares of WEX stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $115.00, for a total transaction of $287,500.00. Following the completion of the transaction, the senior vice president now owns 15,224 shares in the company, valued at approximately $1,750,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Melissa D. Smith sold 3,333 shares of WEX stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $115.00, for a total value of $383,295.00. Following the transaction, the chief executive officer now owns 67,047 shares of the company’s stock, valued at approximately $7,710,405. The disclosure for this sale can be found here. Insiders have sold a total of 2,395,833 shares of company stock valued at $245,048,295 in the last quarter. Company insiders own 0.86% of the company’s stock.
Several research analysts have recently weighed in on the company. Barclays PLC upped their price objective on WEX from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Zacks Investment Research cut WEX from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. BidaskClub raised WEX from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Credit Suisse Group reaffirmed an “outperform” rating on shares of WEX in a research report on Tuesday, September 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of WEX in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. WEX presently has a consensus rating of “Buy” and an average target price of $122.45.
WEX Inc. (WEX) opened at 119.85 on Friday. WEX Inc. has a 12 month low of $97.26 and a 12 month high of $122.91. The firm has a market capitalization of $5.14 billion, a PE ratio of 72.29 and a beta of 1.79. The company’s 50-day moving average price is $111.40 and its 200 day moving average price is $106.20.
WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $303.90 million during the quarter, compared to the consensus estimate of $293.91 million. WEX had a return on equity of 13.03% and a net margin of 6.09%. The company’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 EPS. On average, equities research analysts predict that WEX Inc. will post $5.28 earnings per share for the current year.
WEX declared that its board has initiated a share repurchase plan on Tuesday, September 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
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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