Eagle Asset Management Inc. Purchases 58,270 Shares of WEX Inc (NYSE:WEX)

Eagle Asset Management Inc. boosted its position in shares of WEX Inc (NYSE:WEX) by 26.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 278,172 shares of the business services provider’s stock after buying an additional 58,270 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.64% of WEX worth $56,210,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in WEX by 5.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,896 shares of the business services provider’s stock valued at $585,000 after buying an additional 145 shares during the last quarter. Retirement Systems of Alabama raised its holdings in WEX by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 56,255 shares of the business services provider’s stock valued at $11,707,000 after buying an additional 145 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in WEX by 3.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 2,095 shares of the business services provider’s stock valued at $436,000 after buying an additional 79 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in WEX by 6.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 8,681 shares of the business services provider’s stock worth $1,807,000 after purchasing an additional 549 shares in the last quarter. Finally, 361 Capital LLC bought a new position in WEX in the 2nd quarter worth $1,084,000. Institutional investors own 99.47% of the company’s stock.

In related news, CEO Melissa D. Smith sold 15,556 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $209.99, for a total transaction of $3,266,604.44. Following the sale, the chief executive officer now directly owns 78,839 shares of the company’s stock, valued at approximately $16,555,401.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Robert Phillips sold 15,973 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $208.44, for a total transaction of $3,329,412.12. Following the sale, the insider now directly owns 9,850 shares in the company, valued at $2,053,134. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Several research analysts have commented on WEX shares. Citigroup upped their price objective on shares of WEX from $235.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, September 9th. SunTrust Banks decreased their price objective on shares of WEX from $240.00 to $220.00 and set a “buy” rating for the company in a report on Friday, November 1st. Raymond James started coverage on shares of WEX in a report on Monday, September 30th. They issued a “market perform” rating and a $260.00 price objective for the company. TheStreet lowered shares of WEX from a “b” rating to a “c+” rating in a report on Monday, August 5th. Finally, Wolfe Research set a $240.00 price objective on shares of WEX and gave the stock a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $227.33.

NYSE:WEX opened at $196.30 on Friday. WEX Inc has a 1-year low of $131.35 and a 1-year high of $221.66. The firm’s 50-day moving average price is $200.71 and its 200-day moving average price is $204.01. The company has a market capitalization of $8.49 billion, a PE ratio of 25.69, a P/E/G ratio of 1.61 and a beta of 1.54. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.30 and a quick ratio of 1.42.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, October 31st. The business services provider reported $2.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.35 by $0.24. WEX had a net margin of 3.95% and a return on equity of 18.86%. The company had revenue of $459.96 million for the quarter, compared to the consensus estimate of $460.00 million. During the same period in the prior year, the firm posted $2.23 EPS. WEX’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities analysts anticipate that WEX Inc will post 8.38 EPS for the current fiscal year.

WEX Company Profile

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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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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