WEX Inc. (WEX) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in WEX Inc. (NYSE:WEX) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,800 shares of the business services provider’s stock after acquiring an additional 1,999 shares during the quarter. New York State Common Retirement Fund owned approximately 0.20% of WEX worth $8,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. World Asset Management Inc increased its holdings in shares of WEX by 0.4% in the 2nd quarter. World Asset Management Inc now owns 2,732 shares of the business services provider’s stock valued at $285,000 after acquiring an additional 12 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of WEX by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,634 shares of the business services provider’s stock valued at $587,000 after acquiring an additional 16 shares during the last quarter. Diversified Trust Co increased its holdings in shares of WEX by 0.5% in the 2nd quarter. Diversified Trust Co now owns 5,175 shares of the business services provider’s stock valued at $540,000 after acquiring an additional 25 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of WEX by 0.8% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 6,681 shares of the business services provider’s stock valued at $592,000 after acquiring an additional 53 shares during the last quarter. Finally, First Bank & Trust increased its holdings in shares of WEX by 5.1% in the 2nd quarter. First Bank & Trust now owns 1,686 shares of the business services provider’s stock valued at $176,000 after acquiring an additional 82 shares during the last quarter.

WEX Inc. (WEX) opened at 116.12 on Monday. WEX Inc. has a 52 week low of $97.26 and a 52 week high of $122.91. The company’s 50-day moving average price is $109.66 and its 200-day moving average price is $105.73. The company has a market capitalization of $4.98 billion, a P/E ratio of 70.04 and a beta of 1.79.

WEX (NYSE:WEX) last issued its earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, topping 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 business had revenue of $303.90 million during the quarter, compared to analysts’ expectations of $293.91 million. During the same period in the prior year, the firm posted $1.08 EPS. WEX’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, equities analysts forecast that WEX Inc. will post $5.28 EPS for the current fiscal year.

WEX announced that its board has authorized a share buyback plan on Tuesday, September 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded WEX from a “hold” rating to a “sell” rating in a report on Thursday, September 28th. Goldman Sachs Group, Inc. (The) upgraded WEX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $114.00 to $126.00 in a report on Monday, September 11th. Credit Suisse Group restated an “outperform” rating on shares of WEX in a research note on Tuesday, September 5th. BidaskClub upgraded WEX from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Raymond James Financial, Inc. initiated coverage on WEX in a research note on Friday, August 25th. They set an “outperform” rating and a $115.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $121.91.

TRADEMARK VIOLATION NOTICE: “WEX Inc. (WEX) Shares Bought by New York State Common Retirement Fund” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/09/wex-inc-wex-shares-bought-by-new-york-state-common-retirement-fund.html.

In related news, Director James Neary sold 2,390,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $102.25, for a total transaction of $244,377,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Melissa D. Smith sold 3,333 shares of the firm’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $115.00, for a total val

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. World Asset Management Inc increased its holdings in shares of WEX by 0.4% in the 2nd quarter. World Asset Management Inc now owns 2,732 shares of the business services provider’s stock valued at $285,000 after acquiring an additional 12 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of WEX by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,634 shares of the business services provider’s stock valued at $587,000 after acquiring an additional 16 shares during the last quarter. Diversified Trust Co increased its holdings in shares of WEX by 0.5% in the 2nd quarter. Diversified Trust Co now owns 5,175 shares of the business services provider’s stock valued at $540,000 after acquiring an additional 25 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of WEX by 0.8% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 6,681 shares of the business services provider’s stock valued at $592,000 after acquiring an additional 53 shares during the last quarter. Finally, First Bank & Trust increased its holdings in shares of WEX by 5.1% in the 2nd quarter. First Bank & Trust now owns 1,686 shares of the business services provider’s stock valued at $176,000 after acquiring an additional 82 shares during the last quarter.

WEX Inc. (WEX) opened at 116.12 on Monday. WEX Inc. has a 52 week low of $97.26 and a 52 week high of $122.91. The company’s 50-day moving average price is $109.66 and its 200-day moving average price is $105.73. The company has a market capitalization of $4.98 billion, a P/E ratio of 70.04 and a beta of 1.79.

WEX (NYSE:WEX) last issued its earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, topping 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 business had revenue of $303.90 million during the quarter, compared to analysts’ expectations of $293.91 million. During the same period in the prior year, the firm posted $1.08 EPS. WEX’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, equities analysts forecast that WEX Inc. will post $5.28 EPS for the current fiscal year.

WEX announced that its board has authorized a share buyback plan on Tuesday, September 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded WEX from a “hold” rating to a “sell” rating in a report on Thursday, September 28th. Goldman Sachs Group, Inc. (The) upgraded WEX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $114.00 to $126.00 in a report on Monday, September 11th. Credit Suisse Group restated an “outperform” rating on shares of WEX in a research note on Tuesday, September 5th. BidaskClub upgraded WEX from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Raymond James Financial, Inc. initiated coverage on WEX in a research note on Friday, August 25th. They set an “outperform” rating and a $115.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $121.91.

TRADEMARK VIOLATION NOTICE: “WEX Inc. (WEX) Shares Bought by New York State Common Retirement Fund” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/09/wex-inc-wex-shares-bought-by-new-york-state-common-retirement-fund.html.

In related news, Director James Neary sold 2,390,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $102.25, for a total transaction of $244,377,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Melissa D. Smith sold 3,333 shares of the firm’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $115.00, for a total value of $383,295.00. Following the sale, the chief executive officer now directly owns 67,047 shares of the company’s stock, valued at $7,710,405. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,400,333 shares of company stock valued at $245,543,295. 0.86% of the stock is currently owned by insiders.

WEX 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.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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