Blue Trust Inc. Has $88,000 Stake in WEX Inc. (NYSE:WEX)

Blue Trust Inc. increased its position in shares of WEX Inc. (NYSE:WEX) by 83.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 418 shares of the business services provider’s stock after purchasing an additional 190 shares during the period. Blue Trust Inc.’s holdings in WEX were worth $88,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Westfield Capital Management Co. LP lifted its holdings in shares of WEX by 13.3% during the first quarter. Westfield Capital Management Co. LP now owns 258,384 shares of the business services provider’s stock worth $61,374,000 after buying an additional 30,306 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in WEX by 229.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,164 shares of the business services provider’s stock worth $989,000 after purchasing an additional 2,901 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in WEX by 5.6% in 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 purchasing an additional 48,182 shares in the last quarter. Sei Investments Co. boosted its holdings in WEX by 60.0% in the 1st quarter. Sei Investments Co. now owns 44,981 shares of the business services provider’s stock valued at $10,684,000 after purchasing an additional 16,860 shares during the period. Finally, Swedbank AB acquired a new position in shares of WEX during the 2nd quarter worth approximately $6,253,000. 97.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ann Elena Drew sold 1,182 shares of WEX stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the sale, the insider now directly owns 5,584 shares of the company’s stock, valued at approximately $964,524.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Ann Elena Drew sold 1,182 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were 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 of the company’s stock, valued at approximately $964,524.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,341 shares of company stock valued at $605,704 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on WEX. Keefe, Bruyette & Woods cut their price target on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Bank of America upped their target price on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price target on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Jefferies Financial Group upped their price objective on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company decreased their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $235.91.

WEX Price Performance

WEX stock opened at $173.31 on Wednesday. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 1.24 and a beta of 1.55. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50 day simple moving average of $199.64 and a 200 day simple moving average of $193.52. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04.

WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. During the same period in the prior year, the business earned $3.44 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts anticipate that WEX Inc. will post 13.65 EPS for the current fiscal year.

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.