Montag & Caldwell LLC Has $508,000 Position in WEX Inc. (WEX)
Montag & Caldwell LLC decreased its position in shares of WEX Inc. (NYSE:WEX) by 50.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,871 shares of the business services provider’s stock after selling 4,887 shares during the period. Montag & Caldwell LLC’s holdings in WEX were worth $508,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Whittier Trust Co. increased 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 period. Janney Capital Management LLC bought a new position in WEX during the first quarter worth about $235,000. Glen Harbor Capital Management LLC increased 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 period. BTIM Corp. bought a new position in WEX during the first quarter worth about $13,981,000. Finally, Hermes Investment Management Ltd. increased its position in WEX by 1.4% in the first quarter. Hermes Investment Management Ltd. now owns 524,042 shares of the business services provider’s stock worth $54,238,000 after buying an additional 7,373 shares during the period.
Shares of WEX Inc. (WEX) traded up 0.447% during trading on Friday, hitting $102.325. The stock had a trading volume of 18,583 shares. WEX Inc. has a 52-week low of $93.57 and a 52-week high of $122.91. The firm has a market cap of $4.39 billion, a PE ratio of 61.716 and a beta of 1.80. The stock has a 50 day moving average of $107.62 and a 200 day moving average of $106.57.
WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. WEX had a net margin of 6.09% and a return on equity of 13.03%. The company had revenue of $303.90 million during the quarter, compared to the consensus estimate of $293.91 million. During the same quarter last year, the firm earned $1.08 earnings per share. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, equities analysts anticipate that WEX Inc. will post $5.27 EPS for the current year.
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A number of equities analysts have issued reports on the company. BidaskClub upgraded WEX from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Barclays PLC lifted their price target on WEX from $115.00 to $119.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. Zacks Investment Research upgraded WEX from a “sell” rating to a “hold” rating and set a $124.00 price target for the company in a research note on Friday, July 14th. William Blair reiterated an “outperform” rating on shares of WEX in a research note on Wednesday, July 12th. Finally, Credit Suisse Group upgraded WEX from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 27th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $120.56.
In related news, SVP George W. Hogan sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $110.00, for a total value of $495,000.00. Following the sale, the senior vice president now owns 15,615 shares in the company, valued at $1,717,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Hilary A. Rapkin sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. Following the completion of the sale, the senior vice president now owns 15,424 shares in the company, valued at approximately $1,619,520. The disclosure for this sale can be found here. Company 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.
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