Amalgamated Bank Sells 652 Shares of WEX Inc. (NYSE:WEX)

Amalgamated Bank reduced its position in WEX Inc. (NYSE:WEX) by 2.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 24,951 shares of the business services provider’s stock after selling 652 shares during the quarter. Amalgamated Bank’s holdings in WEX were worth $4,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in WEX. Dimensional Fund Advisors LP increased its stake in WEX by 34.3% in the second quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock valued at $87,772,000 after acquiring an additional 126,663 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in shares of WEX by 27.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 66,936 shares of the business services provider’s stock valued at $11,857,000 after purchasing an additional 14,444 shares in the last quarter. Retirement Planning Co of New England Inc. increased its stake in shares of WEX by 8.9% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 1,671 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 136 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of WEX by 1.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 50,370 shares of the business services provider’s stock worth $8,922,000 after buying an additional 603 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of WEX by 3.0% during the 2nd quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider’s stock worth $71,275,000 after buying an additional 11,821 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. William Blair upgraded shares of WEX to a “strong-buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods cut their target price on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Finally, Wells Fargo & Company lowered their price target on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.58.

WEX Stock Up 0.5 %

Shares of WEX opened at $207.11 on Friday. The stock’s 50-day moving average price is $185.29 and its two-hundred day moving average price is $199.00. WEX Inc. has a 12 month low of $161.95 and a 12 month high of $244.04. The company has a market capitalization of $8.68 billion, a PE ratio of 33.68, a PEG ratio of 1.19 and a beta of 1.54. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66.

WEX (NYSE:WEX) last announced its earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.20 by $0.09. WEX had a return on equity of 31.05% and a net margin of 9.32%. The business had revenue of $673.50 million for the quarter, compared to analysts’ expectations of $677.44 million. On average, analysts anticipate that WEX Inc. will post 13.75 EPS for the current year.

Insider Transactions at WEX

In related news, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the transaction, the chief operating officer now owns 7,757 shares in the company, valued at $1,409,214.19. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, COO Robert Joseph Deshaies sold 1,651 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the sale, the chief operating officer now owns 7,757 shares of the company’s stock, valued at $1,409,214.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. The disclosure for this sale can be found here. Insiders sold a total of 5,985 shares of company stock worth $1,094,907 over the last three months. 1.10% of the stock is owned by company insiders.

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.