Emerald Advisers LLC Makes New $473,000 Investment in WEX Inc (NYSE:WEX)
Emerald Advisers LLC purchased a new position in WEX Inc (NYSE:WEX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,274 shares of the business services provider’s stock, valued at approximately $473,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Atlantic Trust LLC boosted its stake in shares of WEX by 40.8% in the second quarter. Atlantic Trust LLC now owns 169 shares of the business services provider’s stock worth $35,000 after acquiring an additional 49 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of WEX by 20.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 302 shares of the business services provider’s stock worth $58,000 after acquiring an additional 52 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of WEX in the first quarter worth about $96,000. Tortoise Index Solutions LLC bought a new position in shares of WEX in the first quarter worth about $121,000. Finally, Machina Capital S.A.S. boosted its stake in shares of WEX by 591.1% in the second quarter. Machina Capital S.A.S. now owns 698 shares of the business services provider’s stock worth $145,000 after acquiring an additional 597 shares during the period. Institutional investors and hedge funds own 98.79% of the company’s stock.
A number of research firms have recently weighed in on WEX. ValuEngine lowered WEX from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BTIG Research upped their price objective on WEX from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Goldman Sachs Group raised WEX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $193.00 to $225.00 in a research note on Wednesday, June 5th. Deutsche Bank upped their price objective on WEX from $209.00 to $223.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Barclays dropped their price objective on WEX from $260.00 to $253.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $223.00.
Shares of WEX stock opened at $195.57 on Thursday. The company’s 50 day moving average price is $210.15. WEX Inc has a 12 month low of $131.35 and a 12 month high of $221.66. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.62 and a beta of 1.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.39 and a current ratio of 1.42.
WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.20. WEX had a return on equity of 17.88% and a net margin of 6.84%. The company had revenue of $441.81 million during the quarter, compared to analyst estimates of $440.49 million. During the same period in the prior year, the company earned $2.07 earnings per share. The firm’s revenue was up 19.2% on a year-over-year basis. On average, sell-side analysts predict that WEX Inc will post 8.39 earnings per share for the current year.
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.
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