WEX Inc (WEX) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its position in shares of WEX Inc (NYSE:WEX) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 156,863 shares of the business services provider’s stock after selling 2,477 shares during the quarter. Bank of Montreal Can’s holdings in WEX were worth $31,491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WEX. Cutler Group LP boosted its stake in shares of WEX by 133.3% during the 2nd quarter. Cutler Group LP now owns 700 shares of the business services provider’s stock valued at $133,000 after buying an additional 400 shares during the period. NumerixS Investment Technologies Inc boosted its stake in shares of WEX by 150.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,000 shares of the business services provider’s stock valued at $191,000 after buying an additional 600 shares during the period. Winslow Evans & Crocker Inc. acquired a new stake in shares of WEX during the 2nd quarter valued at $206,000. Hartford Investment Management Co. acquired a new stake in shares of WEX during the 2nd quarter valued at $214,000. Finally, HPM Partners LLC acquired a new stake in shares of WEX during the 2nd quarter valued at $215,000. Hedge funds and other institutional investors own 99.32% of the company’s stock.

WEX stock opened at $185.87 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.44 and a quick ratio of 1.44. WEX Inc has a 1 year low of $118.40 and a 1 year high of $203.49. The firm has a market capitalization of $8.25 billion, a P/E ratio of 39.55, a price-to-earnings-growth ratio of 1.69 and a beta of 1.71.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, August 2nd. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. WEX had a net margin of 14.61% and a return on equity of 15.61%. The business had revenue of $370.88 million during the quarter, compared to analyst estimates of $366.21 million. During the same quarter in the previous year, the business earned $1.26 EPS. WEX’s quarterly revenue was up 22.0% compared to the same quarter last year. Equities analysts forecast that WEX Inc will post 7.57 earnings per share for the current year.

In related news, CEO Melissa D. Smith sold 5,000 shares of WEX stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $190.00, for a total value of $950,000.00. Following the completion of the sale, the chief executive officer now owns 72,544 shares of the company’s stock, valued at approximately $13,783,360. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Hilary A. Rapkin sold 3,723 shares of WEX stock in a transaction on Monday, August 6th. The shares were sold at an average price of $188.57, for a total transaction of $702,046.11. Following the completion of the sale, the insider now directly owns 12,544 shares of the company’s stock, valued at approximately $2,365,422.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,335 shares of company stock valued at $3,461,862. 4.57% of the stock is owned by company insiders.

WEX has been the subject of a number of research reports. Morgan Stanley lifted their target price on shares of WEX from $188.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, August 3rd. SunTrust Banks reissued a “buy” rating and set a $215.00 target price on shares of WEX in a research note on Friday, August 3rd. Citigroup lifted their target price on shares of WEX from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Deutsche Bank lifted their target price on shares of WEX to $230.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. Finally, Wolfe Research initiated coverage on shares of WEX in a research note on Tuesday, July 17th. They set a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $194.80.

WEX Profile

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 and processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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