WEX Inc. (WEX) Position Maintained by CrestPoint Capital Management LLC

CrestPoint Capital Management LLC continued to hold its stake in WEX Inc. (NYSE:WEX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,100 shares of the business services provider’s stock at the end of the second quarter. CrestPoint Capital Management LLC’s holdings in WEX were worth $219,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Clinton Group Inc. acquired a new stake in WEX during the first quarter valued at about $8,833,000. Huntington National Bank boosted its stake in WEX by 35.9% in the first quarter. Huntington National Bank now owns 1,684 shares of the business services provider’s stock valued at $174,000 after buying an additional 445 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in WEX by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 317,777 shares of the business services provider’s stock valued at $35,465,000 after buying an additional 10,920 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in WEX by 53.8% in 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. Finally, Quadrature Capital Ltd acquired a new stake in WEX during the fourth quarter valued at about $657,000.

Shares of WEX Inc. (NYSE WEX) opened at 113.56 on Friday. The firm’s 50-day moving average price is $106.23 and its 200 day moving average price is $107.15. The company has a market capitalization of $4.87 billion, a PE ratio of 71.20 and a beta of 1.80. WEX Inc. has a 52-week low of $89.89 and a 52-week high of $122.91.

WEX (NYSE:WEX) last issued its earnings results on Thursday, April 27th. The business services provider reported $1.13 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.13. The business had revenue of $291.36 million for the quarter, compared to the consensus estimate of $281.68 million. WEX had a net margin of 6.07% and a return on equity of 13.31%. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. On average, equities analysts forecast that WEX Inc. will post $5.33 earnings per share for the current year.

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Several analysts recently issued reports on WEX shares. Credit Suisse Group raised WEX from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 27th. Zacks Investment Research cut WEX from a “hold” rating to a “sell” rating in a research note on Friday, April 7th. Deutsche Bank AG raised WEX from a “hold” rating to a “buy” rating and raised their target price for the stock from $116.00 to $125.00 in a research note on Monday, June 5th. Jefferies Group LLC reissued a “buy” rating and issued a $135.00 target price on shares of WEX in a research note on Monday, May 15th. Finally, BidaskClub cut WEX from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $118.10.

In other WEX news, SVP George W. Hogan sold 4,500 shares of the company’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $110.00, for a total value of $495,000.00. Following the transaction, the senior vice president now directly owns 15,615 shares in the company, valued at approximately $1,717,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott Robert Phillips sold 22,135 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $99.90, for a total transaction of $2,211,286.50. The disclosure for this sale can be found here. Insiders sold a total of 28,635 shares of company stock worth $2,916,287 over the last 90 days. Insiders own 0.86% of the company’s stock.

WEX Company 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.

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