Raymond James & Associates Has $3.66 Million Holdings in WEX Inc (NYSE:WEX)

Raymond James & Associates lifted its holdings in WEX Inc (NYSE:WEX) by 75.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,052 shares of the business services provider’s stock after acquiring an additional 8,223 shares during the quarter. Raymond James & Associates’ holdings in WEX were worth $3,658,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Ffcm LLC increased its position in WEX by 50.0% during the fourth quarter. Ffcm LLC now owns 210 shares of the business services provider’s stock worth $29,000 after purchasing an additional 70 shares during the last quarter. Advisory Services Network LLC increased its position in WEX by 79.2% during the fourth quarter. Advisory Services Network LLC now owns 405 shares of the business services provider’s stock worth $57,000 after purchasing an additional 179 shares during the last quarter. Enlightenment Research LLC acquired a new stake in WEX during the fourth quarter worth about $98,000. Bremer Trust National Association acquired a new stake in WEX during the fourth quarter worth about $140,000. Finally, Pearl River Capital LLC increased its position in WEX by 2,760.9% during the first quarter. Pearl River Capital LLC now owns 1,316 shares of the business services provider’s stock worth $252,000 after purchasing an additional 1,270 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

In other WEX news, Director Michael E. Dubyak sold 15,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $200.00, for a total value of $3,000,000.00. Following the transaction, the director now directly owns 43,008 shares in the company, valued at approximately $8,601,600. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael E. Dubyak sold 1,048 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $204.31, for a total transaction of $214,116.88. Following the completion of the transaction, the director now owns 33,484 shares in the company, valued at $6,841,116.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,267 shares of company stock worth $10,935,178. Corporate insiders own 1.12% of the company’s stock.

WEX traded up $4.29 during trading on Friday, hitting $208.10. The stock had a trading volume of 403,487 shares, compared to its average volume of 342,192. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 1.57 and a beta of 1.55. The business has a 50-day moving average of $200.11. WEX Inc has a twelve month low of $131.35 and a twelve month high of $212.13.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.19. WEX had a net margin of 8.84% and a return on equity of 17.88%. The business had revenue of $381.90 million for the quarter, compared to analysts’ expectations of $379.57 million. During the same period in the prior year, the company posted $1.81 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, analysts predict that WEX Inc will post 8.62 earnings per share for the current year.

Several equities research analysts recently issued reports on the stock. ValuEngine cut shares of WEX from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. Zacks Investment Research upgraded shares of WEX from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Barclays lifted their price target on shares of WEX from $222.00 to $238.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Robert W. Baird began coverage on shares of WEX in a research report on Thursday, April 4th. They set a “neutral” rating and a $220.00 price target for the company. Finally, Deutsche Bank lifted their price target on shares of WEX from $209.00 to $223.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. WEX has a consensus rating of “Buy” and an average price target of $212.46.

About WEX

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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