Eukles Asset Management lifted its stake in shares of WEX Inc (NYSE:WEX) by 3.8% in the 1st quarter, HoldingsChannel reports. The fund owned 2,038 shares of the business services provider’s stock after acquiring an additional 74 shares during the period. Eukles Asset Management’s holdings in WEX were worth $391,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in WEX. Ffcm LLC boosted its stake in WEX by 50.0% during the 4th quarter. Ffcm LLC now owns 210 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 70 shares during the period. Ipswich Investment Management Co. Inc. bought a new stake in WEX during the 4th quarter valued at approximately $32,000. Advisory Services Network LLC boosted its stake in WEX by 79.2% during the 4th quarter. Advisory Services Network LLC now owns 405 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 179 shares during the period. Enlightenment Research LLC bought a new stake in WEX during the 4th quarter valued at approximately $98,000. Finally, Bremer Trust National Association bought a new stake in WEX during the 4th quarter valued at approximately $140,000. Institutional investors own 99.48% of the company’s stock.
In other WEX news, insider David G. Cooper sold 167 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $186.05, for a total value of $31,070.35. Following the transaction, the insider now directly owns 14,674 shares in the company, valued at approximately $2,730,097.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Melissa D. Smith sold 5,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $195.00, for a total value of $975,000.00. Following the completion of the transaction, the chief executive officer now owns 80,783 shares in the company, valued at $15,752,685. The disclosure for this sale can be found here. Insiders sold a total of 11,244 shares of company stock worth $2,204,713 over the last quarter. Corporate insiders own 4.57% of the company’s stock.
NYSE WEX traded up $1.31 during trading hours on Tuesday, reaching $206.28. 3,901 shares of the company’s stock were exchanged, compared to its average volume of 371,168. The firm has a market cap of $8.73 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 1.59 and a beta of 1.52. WEX Inc has a one year low of $131.35 and a one year high of $205.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.47 and a quick ratio of 1.47.
WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, March 20th. The business services provider reported $1.94 EPS for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.01. The business had revenue of $381.20 million for the quarter, compared to analyst estimates of $372.57 million. WEX had a return on equity of 18.30% and a net margin of 11.18%. WEX’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.49 EPS. As a group, equities analysts expect that WEX Inc will post 8.46 earnings per share for the current year.
Several analysts recently weighed in on WEX shares. BTIG Research started coverage on WEX in a research note on Thursday, January 17th. They set a “buy” rating and a $198.00 target price for the company. Zacks Investment Research raised WEX from a “sell” rating to a “hold” rating in a report on Saturday, January 12th. ValuEngine raised WEX from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $180.00 price target (down previously from $200.00) on shares of WEX in a report on Wednesday, January 16th. Finally, Wolfe Research raised WEX from a “market perform” rating to an “outperform” rating in a report on Friday, January 4th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $201.42.
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.
Further Reading: Convertible Shares
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