Healthcare of Ontario Pension Plan Trust Fund Makes New $7.14 Million Investment in WEX Inc. (NYSE:WEX)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of WEX Inc. (NYSE:WEX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 40,300 shares of the business services provider’s stock, valued at approximately $7,139,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.10% of WEX at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in WEX by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after acquiring an additional 179,813 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in WEX by 13.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 258,384 shares of the business services provider’s stock worth $61,374,000 after acquiring an additional 30,306 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in WEX by 229.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,164 shares of the business services provider’s stock worth $989,000 after acquiring an additional 2,901 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in WEX by 5.6% during the 2nd 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 acquiring an additional 48,182 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in WEX by 60.0% during the 1st quarter. Sei Investments Co. now owns 44,981 shares of the business services provider’s stock worth $10,684,000 after acquiring an additional 16,860 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

WEX Stock Up 1.9 %

Shares of NYSE WEX opened at $210.02 on Friday. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 1.22 and a beta of 1.55. The business has a 50-day moving average of $190.14 and a 200-day moving average of $197.61. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. WEX Inc. has a 12 month low of $161.95 and a 12 month high of $244.04.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on WEX shares. Wells Fargo & Company lowered their target price 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. JPMorgan Chase & Co. lowered their target price on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods lowered their target price on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Finally, William Blair upgraded WEX to a “strong-buy” rating in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $239.58.

Insider Activity at WEX

In related news, insider Ann Elena Drew sold 1,182 shares of the company’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 transaction of $204,166.86. Following the completion of the transaction, the insider now owns 5,584 shares in the company, valued at $964,524.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other WEX news, insider Ann Elena Drew sold 1,182 shares of the stock in a transaction 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 transaction, the insider now owns 5,584 shares in the company, valued at approximately $964,524.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jagtar Narula sold 508 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the transaction, the chief financial officer now owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,985 shares of company stock worth $1,094,907 over the last quarter. 1.10% of the stock is owned by corporate insiders.

WEX Company Profile

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.