Amalgamated Bank Trims Stock Holdings in WEX Inc. (NYSE:WEX)

Amalgamated Bank decreased its holdings in WEX Inc. (NYSE:WEXGet Rating) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,674 shares of the business services provider’s stock after selling 389 shares during the period. Amalgamated Bank owned 0.07% of WEX worth $5,831,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. CWM LLC boosted its position in shares of WEX by 276.7% in the first quarter. CWM LLC now owns 162 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Core Alternative Capital bought a new position in shares of WEX in the first quarter valued at approximately $31,000. Lazard Asset Management LLC bought a new position in shares of WEX in the first quarter valued at approximately $44,000. Okabena Investment Services Inc. bought a new position in shares of WEX in the fourth quarter valued at approximately $54,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of WEX by 111.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider’s stock valued at $170,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 99.50% of the company’s stock.

Wall Street Analyst Weigh In

WEX has been the subject of a number of analyst reports. Evercore ISI restated an “outperform” rating and issued a $230.00 price objective on shares of WEX in a research report on Thursday, June 2nd. Citigroup upgraded shares of WEX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $190.00 to $210.00 in a research report on Thursday, June 9th. Barclays cut their price objective on shares of WEX from $220.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday. Wells Fargo & Company dropped their target price on shares of WEX from $210.00 to $194.00 and set an “overweight” rating for the company in a research report on Thursday, September 8th. Finally, Mizuho lifted their target price on shares of WEX from $212.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.40.

WEX Stock Down 1.0 %

Shares of NYSE WEX opened at $146.39 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.52. WEX Inc. has a 52 week low of $123.01 and a 52 week high of $197.70. The firm’s fifty day moving average is $161.54 and its 200 day moving average is $163.78. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 0.66 and a beta of 1.55.

WEX (NYSE:WEXGet Rating) last issued its earnings results on Thursday, July 28th. The business services provider reported $3.28 EPS for the quarter, topping the consensus estimate of $3.03 by $0.25. The company had revenue of $598.20 million for the quarter, compared to the consensus estimate of $571.33 million. WEX had a net margin of 9.23% and a return on equity of 24.68%. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.93 earnings per share. On average, equities research analysts expect that WEX Inc. will post 11.81 earnings per share for the current year.

Insider Buying and Selling at WEX

In other WEX news, CAO Jennifer Kimball sold 764 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $169.35, for a total transaction of $129,383.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Jennifer Kimball sold 764 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $169.35, for a total value of $129,383.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Melanie J. Tinto sold 766 shares of the company’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $165.69, for a total transaction of $126,918.54. Following the completion of the sale, the insider now directly owns 6,353 shares in the company, valued at $1,052,628.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,730 shares of company stock valued at $460,494. 1.00% of the stock is currently owned by company insiders.

WEX Company Profile

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WEX Inc provides financial technology services in the United States and internationally. 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 processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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