Amalgamated Bank Sells 652 Shares of WEX Inc. (NYSE:WEX)

Amalgamated Bank decreased its position in WEX Inc. (NYSE:WEX) by 2.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,951 shares of the business services provider’s stock after selling 652 shares during the period. Amalgamated Bank owned approximately 0.06% of WEX worth $4,420,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. 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 acquiring an additional 179,813 shares in the last quarter. Kodai Capital Management LP acquired a new stake in WEX during the 4th quarter worth approximately $49,750,000. Westfield Capital Management Co. LP lifted its stake in WEX by 13.3% in the first quarter. Westfield Capital Management Co. LP now owns 258,384 shares of the business services provider’s stock valued at $61,374,000 after buying an additional 30,306 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of WEX by 229.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,164 shares of the business services provider’s stock valued at $989,000 after buying an additional 2,901 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of WEX by 5.6% during 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 acquiring an additional 48,182 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Performance

NYSE WEX opened at $207.11 on Friday. The firm has a market capitalization of $8.68 billion, a P/E ratio of 33.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.54. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The firm’s fifty day moving average price is $185.29 and its two-hundred day moving average price is $199.00. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04.

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

Insider Transactions 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 transaction of $204,166.86. Following the transaction, the insider now directly owns 5,584 shares of the company’s stock, valued at approximately $964,524.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Ann Elena Drew sold 1,182 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the transaction, the insider now owns 5,584 shares in the company, valued at approximately $964,524.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jagtar Narula sold 540 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00. Following the completion of the transaction, the chief financial officer now directly owns 8,168 shares in the company, valued at $1,470,240. The disclosure for this sale can be found here. In the last three months, insiders sold 5,985 shares of company stock worth $1,094,907. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.