Capstone Asset Management Co. Has $379,000 Stake in WEX Inc. (NYSE:WEX)

Capstone Asset Management Co. boosted its stake in shares of WEX Inc. (NYSE:WEX) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,631 shares of the business services provider’s stock after buying an additional 190 shares during the period. Capstone Asset Management Co.’s holdings in WEX were worth $379,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WEX. First Bank & Trust boosted its position in WEX by 2.6% in the first quarter. First Bank & Trust now owns 1,604 shares of the business services provider’s stock worth $166,000 after buying an additional 41 shares during the last quarter. Whittier Trust Co. boosted its position in WEX by 5.9% in the first quarter. Whittier Trust Co. now owns 1,027 shares of the business services provider’s stock worth $106,000 after buying an additional 57 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in WEX by 6.1% in the first quarter. Glen Harbor Capital Management LLC now owns 1,120 shares of the business services provider’s stock worth $116,000 after buying an additional 64 shares during the last quarter. Tyers Asset Management LLC boosted its position in WEX by 6.1% in the first quarter. Tyers Asset Management LLC now owns 1,540 shares of the business services provider’s stock worth $159,000 after buying an additional 88 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in WEX by 2.8% in the first quarter. Teacher Retirement System of Texas now owns 3,438 shares of the business services provider’s stock worth $356,000 after buying an additional 94 shares during the last quarter.

Shares of WEX Inc. (NYSE:WEX) opened at 102.88 on Friday. WEX Inc. has a 12-month low of $96.40 and a 12-month high of $122.91. The company has a market capitalization of $4.41 billion, a PE ratio of 62.05 and a beta of 1.80. The stock has a 50 day moving average of $107.57 and a 200-day moving average of $106.01.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.11. The company had revenue of $303.90 million for the quarter, compared to analyst estimates of $293.91 million. WEX had a net margin of 6.09% and a return on equity of 13.03%. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. Analysts predict that WEX Inc. will post $5.27 earnings per share for the current fiscal year.

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A number of research analysts have recently commented on WEX shares. Zacks Investment Research cut shares of WEX from a “hold” rating to a “sell” rating in a report on Thursday, April 27th. Credit Suisse Group upgraded shares of WEX from a “neutral” rating to an “outperform” rating in a report on Thursday, April 27th. Jefferies Group LLC restated a “buy” rating and issued a $135.00 price target on shares of WEX in a report on Friday, May 5th. Deutsche Bank AG upgraded shares of WEX from a “hold” rating to a “buy” rating and upped their price target for the stock from $116.00 to $125.00 in a report on Monday, June 5th. Finally, Mizuho began coverage on shares of WEX in a report on Tuesday, June 27th. They set a “buy” rating and a $115.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. WEX presently has a consensus rating of “Buy” and a consensus price target of $121.50.

In other news, Director James Neary sold 2,390,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $102.25, for a total transaction of $244,377,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP George W. Hogan sold 4,500 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $110.00, for a total value of $495,000.00. Following the transaction, the senior vice president now directly owns 15,615 shares of the company’s stock, valued at $1,717,650. The disclosure for this sale can be found here. Insiders have sold 2,396,500 shares of company stock worth $245,082,500 over the last quarter. Insiders own 0.86% of the company’s stock.

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.

Institutional Ownership by Quarter for WEX (NYSE:WEX)

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