Stephens Investment Management Group LLC trimmed its holdings in shares of WEX Inc (NYSE:WEX) by 10.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 295,923 shares of the business services provider’s stock after selling 34,455 shares during the period. WEX comprises approximately 1.2% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 19th biggest position. Stephens Investment Management Group LLC owned approximately 0.68% of WEX worth $61,582,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of WEX. Atlantic Trust LLC boosted its stake in WEX by 40.8% in the 2nd quarter. Atlantic Trust LLC now owns 169 shares of the business services provider’s stock worth $35,000 after purchasing an additional 49 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in WEX by 20.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 302 shares of the business services provider’s stock worth $58,000 after purchasing an additional 52 shares during the period. Rockefeller Capital Management L.P. acquired a new position in WEX in the 1st quarter worth approximately $96,000. Advisory Services Network LLC boosted its stake in WEX by 30.6% in the 2nd quarter. Advisory Services Network LLC now owns 529 shares of the business services provider’s stock worth $110,000 after purchasing an additional 124 shares during the period. Finally, Tortoise Index Solutions LLC acquired a new position in WEX in the 1st quarter worth approximately $121,000. Hedge funds and other institutional investors own 98.79% of the company’s stock.
WEX has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price objective on shares of WEX from $210.00 to $230.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Deutsche Bank increased their target price on shares of WEX from $209.00 to $223.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. TheStreet downgraded shares of WEX from a “b” rating to a “c+” rating in a research report on Monday, August 5th. Zacks Investment Research upgraded shares of WEX from a “hold” rating to a “buy” rating and set a $214.00 target price for the company in a research report on Saturday, June 15th. Finally, Barclays cut their target price on shares of WEX from $260.00 to $253.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $223.00.
WEX (NYSE:WEX) last released its earnings results on Thursday, August 1st. The business services provider reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.20. The company had revenue of $441.81 million during the quarter, compared to the consensus estimate of $440.49 million. WEX had a net margin of 6.84% and a return on equity of 17.88%. The company’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.07 EPS. As a group, equities research analysts predict that WEX Inc will post 8.39 EPS for the current year.
In other news, insider Scott Robert Phillips sold 8,298 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total transaction of $1,701,090.00. Following the transaction, the insider now owns 9,850 shares in the company, valued at approximately $2,019,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael E. Dubyak sold 1,048 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $204.31, for a total transaction of $214,116.88. Following the transaction, the director now owns 33,484 shares in the company, valued at approximately $6,841,116.04. The disclosure for this sale can be found here. Insiders have sold a total of 14,346 shares of company stock worth $2,940,207 in the last 90 days. 1.12% of the stock is owned by insiders.
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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