Arizona State Retirement System boosted its holdings in WEX Inc. (NYSE:WEX – Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,631 shares of the business services provider’s stock after purchasing an additional 167 shares during the quarter. Arizona State Retirement System’s holdings in WEX were worth $2,323,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of WEX. Vanguard Group Inc. raised its holdings in shares of WEX by 3.2% in the first quarter. Vanguard Group Inc. now owns 4,196,239 shares of the business services provider’s stock valued at $748,819,000 after buying an additional 131,664 shares during the last quarter. BlackRock Inc. lifted its position in WEX by 1.2% during the 1st quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock worth $732,950,000 after acquiring an additional 49,480 shares during the period. Wellington Management Group LLP grew its stake in shares of WEX by 4.2% in the 1st quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider’s stock valued at $731,925,000 after purchasing an additional 164,902 shares during the last quarter. Morgan Stanley increased its holdings in shares of WEX by 342.4% in the fourth quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock valued at $337,102,000 after purchasing an additional 1,594,294 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of WEX by 0.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,297,572 shares of the business services provider’s stock worth $212,349,000 after purchasing an additional 9,178 shares during the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.
Insider Activity
In related news, COO Robert Joseph Deshaies sold 750 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $172.25, for a total value of $129,187.50. Following the completion of the transaction, the chief operating officer now owns 7,181 shares of the company’s stock, valued at approximately $1,236,927.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Robert Joseph Deshaies sold 750 shares of WEX stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $172.25, for a total transaction of $129,187.50. Following the completion of the sale, the chief operating officer now directly owns 7,181 shares in the company, valued at $1,236,927.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jennifer Kimball sold 939 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $176.08, for a total transaction of $165,339.12. Following the transaction, the chief accounting officer now directly owns 512 shares in the company, valued at approximately $90,152.96. The disclosure for this sale can be found here. Insiders have sold 43,896 shares of company stock worth $8,494,961 over the last three months. 1.10% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
WEX Price Performance
Shares of NYSE WEX opened at $195.37 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.58. The company’s 50-day moving average price is $178.78 and its 200 day moving average price is $180.37. WEX Inc. has a 52 week low of $125.00 and a 52 week high of $204.05. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 58.49, a PEG ratio of 1.66 and a beta of 1.60.
WEX (NYSE:WEX – Get Free Report) last released its quarterly earnings results on Thursday, April 27th. The business services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. WEX had a net margin of 6.00% and a return on equity of 32.29%. The business had revenue of $612.00 million for the quarter, compared to analyst estimates of $602.98 million. As a group, research analysts forecast that WEX Inc. will post 12.31 earnings per share for the current fiscal year.
WEX Company Profile
WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account 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 tools to fleets to manage expenses and capital requirements.
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