Janney Capital Management LLC Increases Stake in WEX Inc. (WEX)
Janney Capital Management LLC increased its position in WEX Inc. (NYSE:WEX) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,477 shares of the business services provider’s stock after buying an additional 205 shares during the period. Janney Capital Management LLC’s holdings in WEX were worth $258,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of WEX. Diversified Trust Co increased its position in shares of WEX by 0.5% in the second quarter. Diversified Trust Co now owns 5,175 shares of the business services provider’s stock worth $540,000 after buying an additional 25 shares during the period. First Bank & Trust increased its stake in WEX by 2.6% in the first quarter. First Bank & Trust now owns 1,604 shares of the business services provider’s stock valued at $166,000 after buying an additional 41 shares during the period. Whittier Trust Co. increased its stake in WEX by 5.9% in the first quarter. Whittier Trust Co. now owns 1,027 shares of the business services provider’s stock valued at $106,000 after buying an additional 57 shares during the period. Glen Harbor Capital Management LLC increased its stake 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 valued at $116,000 after buying an additional 64 shares during the period. Finally, Tyers Asset Management LLC increased its stake 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 valued at $159,000 after buying an additional 88 shares during the period.
Shares of WEX Inc. (NYSE WEX) traded up 1.49% during midday trading on Friday, hitting $103.39. The stock had a trading volume of 370,452 shares. WEX Inc. has a 12 month low of $93.89 and a 12 month high of $122.91. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 62.36 and a beta of 1.80. The stock’s 50 day moving average price is $107.66 and its 200 day moving average price is $106.47.
WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.11. WEX had a return on equity of 13.03% and a net margin of 6.09%. The firm had revenue of $303.90 million for the quarter, compared to analysts’ expectations of $293.91 million. During the same period in the previous year, the firm earned $1.08 EPS. The business’s quarterly revenue was up 29.9% on a year-over-year basis. On average, equities analysts forecast that WEX Inc. will post $5.27 EPS for the current fiscal year.
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Several equities research analysts have commented on the stock. BidaskClub raised shares of WEX from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Barclays PLC upped their price objective on shares of WEX from $115.00 to $119.00 and gave the company an “equal weight” rating in a report on Tuesday, July 18th. Zacks Investment Research raised shares of WEX from a “sell” rating to a “hold” rating and set a $124.00 price objective on the stock in a report on Friday, July 14th. William Blair reaffirmed an “outperform” rating on shares of WEX in a report on Wednesday, July 12th. Finally, Credit Suisse Group raised shares of WEX from a “neutral” rating to an “outperform” rating in a report on Thursday, April 27th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $120.56.
In other news, SVP George W. Hogan sold 4,500 shares of WEX stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $110.00, for a total transaction of $495,000.00. Following the transaction, the senior vice president now directly owns 15,615 shares of the company’s stock, valued at approximately $1,717,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Hilary A. Rapkin sold 2,000 shares of WEX stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the transaction, the senior vice president now directly owns 15,424 shares in the company, valued at $1,619,520. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.
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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