WEX Inc. (WEX) Shares Bought by Northwestern Mutual Investment Management Company LLC

Northwestern Mutual Investment Management Company LLC boosted its position in WEX Inc. (NYSE:WEX) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,681 shares of the business services provider’s stock after acquiring an additional 53 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in WEX were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WEX. BlackRock Inc. increased its stake in WEX by 15,129.9% in the first quarter. BlackRock Inc. now owns 3,044,752 shares of the business services provider’s stock valued at $315,131,000 after acquiring an additional 3,024,760 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of WEX by 53.8% during the first quarter. JPMorgan Chase & Co. now owns 2,823,182 shares of the business services provider’s stock valued at $292,200,000 after buying an additional 986,969 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of WEX by 22.9% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 917,182 shares of the business services provider’s stock valued at $99,679,000 after buying an additional 170,819 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of WEX by 12.1% during the second quarter. Neuberger Berman Group LLC now owns 1,537,401 shares of the business services provider’s stock valued at $160,305,000 after buying an additional 165,575 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of WEX by 4.7% during the first quarter. Vanguard Group Inc. now owns 3,075,394 shares of the business services provider’s stock valued at $318,303,000 after buying an additional 137,427 shares during the last quarter.

Shares of WEX Inc. (NYSE WEX) opened at 110.83 on Tuesday. The firm has a 50-day moving average of $106.42 and a 200 day moving average of $105.11. WEX Inc. has a one year low of $97.26 and a one year high of $122.91. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 66.85 and a beta of 1.80.

WEX (NYSE:WEX) last issued its earnings results on Thursday, July 27th. The business services provider reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.11. The business had revenue of $303.90 million for the quarter, compared to the consensus estimate of $293.91 million. WEX had a net margin of 6.09% and a return on equity of 13.03%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 EPS. On average, equities research analysts predict that WEX Inc. will post $5.27 EPS for the current year.

A number of research analysts have recently issued reports on WEX shares. Zacks Investment Research raised WEX from a “sell” rating to a “hold” rating and set a $124.00 price objective on the stock in a research note on Friday, July 14th. Barclays PLC reiterated a “hold” rating and set a $118.00 target price on shares of WEX in a report on Wednesday, August 2nd. BidaskClub upgraded shares of WEX from a “hold” rating to a “buy” rating in a report on Monday, July 24th. TheStreet lowered shares of WEX from a “b-” rating to a “c+” rating in a report on Monday, August 14th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of WEX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $114.00 to $126.00 in a report on Monday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. WEX currently has a consensus rating of “Buy” and a consensus price target of $121.91.

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In other news, SVP George W. Hogan sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $110.00, for a total value of $495,000.00. Following the completion of the sale, the senior vice president now owns 15,615 shares of the company’s stock, valued at approximately $1,717,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Neary sold 2,390,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $102.25, for a total transaction of $244,377,500.00. The disclosure for this sale can be found here. Insiders sold a total of 2,396,500 shares of company stock worth $245,082,500 over the last 90 days. Insiders own 0.86% of the company’s stock.

WEX Profile

WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.

Institutional Ownership by Quarter for WEX (NYSE:WEX)

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