Wendell David Associates Inc. Increases Stake in WEX Inc (NYSE:WEX)

Wendell David Associates Inc. boosted its position in WEX Inc (NYSE:WEX) by 7.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,480 shares of the business services provider’s stock after acquiring an additional 1,590 shares during the period. Wendell David Associates Inc. owned 0.05% of WEX worth $4,316,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc boosted its stake in WEX by 3.0% in the 3rd quarter. Vanguard Group Inc now owns 3,840,898 shares of the business services provider’s stock worth $771,098,000 after buying an additional 111,362 shares during the last quarter. BlackRock Inc. boosted its stake in WEX by 2.3% in the 4th quarter. BlackRock Inc. now owns 3,807,299 shares of the business services provider’s stock worth $533,248,000 after buying an additional 86,873 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in WEX by 14.5% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,204,643 shares of the business services provider’s stock worth $231,279,000 after buying an additional 152,398 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in WEX by 6.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 942,937 shares of the business services provider’s stock worth $132,068,000 after buying an additional 60,588 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of WEX by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 470,830 shares of the business services provider’s stock worth $65,944,000 after purchasing an additional 23,979 shares during the period. 99.63% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Nicola S. Morris sold 992 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $184.05, for a total value of $182,577.60. Following the sale, the insider now owns 11,848 shares of the company’s stock, valued at approximately $2,180,624.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Melissa D. Smith sold 5,000 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $200.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 75,783 shares in the company, valued at approximately $15,156,600. The disclosure for this sale can be found here. Insiders have sold a total of 11,244 shares of company stock valued at $2,204,713 in the last quarter. 4.57% of the stock is currently owned by insiders.

NYSE:WEX opened at $208.09 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.19. WEX Inc has a 12-month low of $131.35 and a 12-month high of $212.13. The company has a market cap of $9.09 billion, a P/E ratio of 27.24, a P/E/G ratio of 1.66 and a beta of 1.53.

WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.19. WEX had a return on equity of 18.30% and a net margin of 11.18%. The company had revenue of $381.90 million during the quarter, compared to analyst estimates of $379.57 million. During the same quarter in the previous year, the firm posted $1.81 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts expect that WEX Inc will post 8.46 EPS for the current fiscal year.

A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded WEX from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. William Blair restated an “outperform” rating on shares of WEX in a report on Tuesday. Robert W. Baird assumed coverage on WEX in a report on Thursday, April 4th. They issued a “neutral” rating and a $220.00 price objective on the stock. BTIG Research set a $225.00 price objective on WEX and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Morgan Stanley raised their price objective on WEX from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $201.42.

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WEX Profile

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 processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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