Trexquant Investment LP acquired a new stake in WEX Inc. (NYSE:WEX) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,300 shares of the business services provider’s stock, valued at approximately $240,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. World Asset Management Inc boosted its position in WEX by 0.4% in the second quarter. World Asset Management Inc now owns 2,732 shares of the business services provider’s stock valued at $285,000 after buying an additional 12 shares during the period. Diversified Trust Co boosted its position in WEX by 0.5% in the second quarter. Diversified Trust Co now owns 5,175 shares of the business services provider’s stock valued at $540,000 after buying an additional 25 shares during the period. 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 valued at $166,000 after buying an additional 41 shares during the period. 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 valued at $106,000 after buying an additional 57 shares during the period. Finally, 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 valued at $116,000 after buying an additional 64 shares during the period.

Shares of WEX Inc. (WEX) opened at 102.94 on Tuesday. The company has a market cap of $4.42 billion, a PE ratio of 62.09 and a beta of 1.80. The firm’s 50 day moving average is $107.53 and its 200 day moving average is $105.82. WEX Inc. has a 12 month low of $97.26 and a 12 month high of $122.91.

WEX (NYSE:WEX) last announced its earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. WEX had a net margin of 6.09% and a return on equity of 13.03%. The business 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. WEX’s quarterly revenue was up 29.9% on a year-over-year basis. On average, equities analysts predict that WEX Inc. will post $5.27 earnings per share for the current year.

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Several research analysts recently weighed in on the stock. BidaskClub upgraded shares of WEX from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $120.00 target price on shares of WEX in a research report on Thursday, August 10th. Keefe, Bruyette & Woods set a $130.00 target price on shares of WEX and gave the company a “buy” rating in a research report on Sunday, August 13th. Jefferies Group LLC reiterated a “buy” rating and set a $135.00 target price on shares of WEX in a research report on Friday, May 5th. Finally, Zacks Investment Research cut shares of WEX from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $121.50.

In other WEX news, SVP George W. Hogan sold 4,500 shares of WEX stock in a transaction 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 completion of the sale, the senior vice president now directly owns 15,615 shares of the company’s stock, valued at $1,717,650. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Neary sold 2,390,000 shares of WEX stock in a transaction on Monday, August 14th. The shares were sold at an average price of $102.25, for a total transaction of $244,377,500.00. The disclosure for this sale can be found here. Insiders have sold 2,396,500 shares of company stock valued at $245,082,500 in the last three months. 0.86% of the stock is owned by insiders.

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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