Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $124.65 Million Stock Holdings in WEX Inc. (NYSE:WEX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in WEX Inc. (NYSE:WEX - Free Report) by 10.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 793,857 shares of the business services provider's stock after selling 89,638 shares during the period. WEX comprises 1.2% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings, making the stock its 27th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 2.32% of WEX worth $124,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of WEX by 105.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider's stock valued at $358,812,000 after buying an additional 1,052,087 shares during the last quarter. Earnest Partners LLC raised its stake in WEX by 1.0% in the 4th quarter. Earnest Partners LLC now owns 872,734 shares of the business services provider's stock valued at $153,008,000 after acquiring an additional 8,780 shares during the period. Lyrical Asset Management LP lifted its holdings in WEX by 0.4% during the 4th quarter. Lyrical Asset Management LP now owns 823,434 shares of the business services provider's stock valued at $144,364,000 after purchasing an additional 3,190 shares during the last quarter. River Road Asset Management LLC lifted its holdings in WEX by 0.7% during the 4th quarter. River Road Asset Management LLC now owns 725,842 shares of the business services provider's stock valued at $127,255,000 after purchasing an additional 5,377 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in WEX by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 602,693 shares of the business services provider's stock worth $105,653,000 after purchasing an additional 18,331 shares during the period. Institutional investors own 97.47% of the company's stock.

Insider Activity at WEX

In other WEX news, CAO Jennifer Kimball sold 1,400 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $131.08, for a total value of $183,512.00. Following the sale, the chief accounting officer now owns 3,177 shares of the company's stock, valued at approximately $416,441.16. This trade represents a 30.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Melissa D. Smith acquired 3,721 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were acquired at an average price of $134.57 per share, with a total value of $500,734.97. Following the completion of the transaction, the chief executive officer now owns 101,182 shares in the company, valued at $13,616,061.74. The trade was a 3.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

WEX Trading Up 3.3%

Shares of NYSE:WEX opened at $149.48 on Friday. The business's 50 day simple moving average is $134.42 and its 200 day simple moving average is $151.94. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $217.47. The company has a debt-to-equity ratio of 5.06, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $5.12 billion, a P/E ratio of 19.26, a P/E/G ratio of 2.85 and a beta of 1.22.

WEX (NYSE:WEX - Get Free Report) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.11. The company had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. WEX had a return on equity of 37.90% and a net margin of 12.07%. WEX's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.46 EPS. On average, research analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WEX has been the topic of several research analyst reports. Oppenheimer assumed coverage on shares of WEX in a research report on Thursday, May 15th. They issued a "market perform" rating on the stock. Jefferies Financial Group upped their price target on shares of WEX from $130.00 to $135.00 and gave the company a "hold" rating in a research note on Tuesday, May 27th. UBS Group cut their price objective on shares of WEX from $172.00 to $138.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, Wells Fargo & Company reduced their price objective on WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $176.90.

WEX Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation 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 offerings.

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