First Bank & Trust Buys 82 Shares of WEX Inc. (WEX)

First Bank & Trust boosted its stake in shares of WEX Inc. (NYSE:WEX) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,686 shares of the business services provider’s stock after buying an additional 82 shares during the period. First Bank & Trust’s holdings in WEX were worth $176,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. World Asset Management Inc increased its stake 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 increased its stake 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. 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.

WEX Inc. (WEX) traded down 0.66% on Thursday, hitting $103.08. The stock had a trading volume of 309,740 shares. The firm has a market cap of $4.42 billion, a PE ratio of 62.17 and a beta of 1.80. WEX Inc. has a 52-week low of $94.84 and a 52-week high of $122.91. The company has a 50-day moving average price of $107.67 and a 200 day moving average price of $106.11.

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, topping the Zacks’ consensus estimate of $1.15 by $0.11. The firm had revenue of $303.90 million during the quarter, compared to analysts’ expectations of $293.91 million. WEX had a return on equity of 13.03% and a net margin of 6.09%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. Equities analysts forecast that WEX Inc. will post $5.27 earnings per share for the current fiscal year.

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Several research firms have commented on WEX. TheStreet downgraded WEX from a “b-” rating to a “c+” rating in a report on Monday. Keefe, Bruyette & Woods set a $130.00 target price on WEX and gave the stock a “buy” rating in a report on Sunday. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $120.00 target price on shares of WEX in a report on Thursday, August 10th. Barclays PLC reissued a “hold” rating and issued a $118.00 target price on shares of WEX in a report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded WEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. WEX has a consensus rating of “Buy” and an average target price of $121.50.

In other WEX news, Director James Neary sold 2,390,000 shares of WEX stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $102.25, for a total transaction of $244,377,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $495,000.00. Following the sale, the senior vice president now directly owns 15,615 shares of the company’s stock, valued at approximately $1,717,650. The disclosure for this sale can be found here. Insiders sold a total of 2,396,500 shares of company stock valued at $245,082,500 in the last three months. Insiders own 0.86% of the company’s stock.

About WEX

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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