Lombard Odier Asset Management Europe Ltd Makes New $1.33 Million Investment in WEX Inc. (NYSE:WEX)

Lombard Odier Asset Management Europe Ltd purchased a new position in WEX Inc. (NYSE:WEX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,500 shares of the business services provider’s stock, valued at approximately $1,329,000.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in WEX by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock worth $816,919,000 after buying an additional 67,893 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of WEX by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after purchasing an additional 179,813 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of WEX by 5.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock worth $173,561,000 after purchasing an additional 48,182 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of WEX by 0.6% in the first quarter. Bessemer Group Inc. now owns 735,313 shares of the business services provider’s stock worth $174,660,000 after purchasing an additional 4,262 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of WEX by 34.3% in the second quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock worth $87,772,000 after purchasing an additional 126,663 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Up 0.4 %

Shares of NYSE:WEX opened at $208.02 on Tuesday. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04. The business has a 50 day simple moving average of $185.75 and a two-hundred day simple moving average of $198.67. The firm has a market capitalization of $8.72 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 1.19 and a beta of 1.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03.

WEX (NYSE:WEX) last announced its earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.09. The business had revenue of $673.50 million during the quarter, compared to analyst estimates of $677.44 million. WEX had a return on equity of 31.05% and a net margin of 9.32%. On average, equities analysts predict that WEX Inc. will post 13.75 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WEX. Keefe, Bruyette & Woods reduced their target price on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. William Blair raised WEX to a “strong-buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. reduced their price objective on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company reduced their price objective on WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $239.58.

Insider Activity at WEX

In related news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the sale, the insider now owns 5,584 shares in the company, valued at $964,524.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the sale, the chief operating officer now owns 7,757 shares in the company, valued at $1,409,214.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the sale, the insider now owns 5,584 shares of the company’s stock, valued at approximately $964,524.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,985 shares of company stock worth $1,094,907. Company insiders own 1.10% of the company’s stock.

About WEX

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.