December 1, 2016 - By Linda Rogers · 0 Comments
Wex Inc (NYSE:WEX) institutional sentiment decreased to 1.16 in 2016 Q2. Its down -0.35, from 1.51 in 2016Q1. The ratio dived, as 112 funds opened new or increased stock positions, while 74 cut down and sold equity positions in Wex Inc. The funds in our partner’s database now have: 39.12 million shares, up from 39.04 million shares in 2016Q1. Also, the number of funds holding Wex Inc in their top 10 stock positions decreased from 3 to 2 for a decrease of 1. Sold All: 16 Reduced: 58 Increased: 87 New Position: 25.
WEX Inc. is a provider of corporate payment solutions. The company has a market cap of $4.92 billion. The Firm operates through three divisions: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. It has a 57.69 P/E ratio. The Fleet Solutions segment provides clients with payment and transaction processing services designed for the needs of commercial and government fleets.
The stock closed at $110.51 during the last session. It is down 17.58% since April 28, 2016 and is uptrending. It has outperformed by 11.65% the S&P500.
Analysts await WEX Inc (NYSE:WEX) to report earnings on February, 13. They expect $1.16 earnings per share, up 4.50% or $0.05 from last year’s $1.11 per share. WEX’s profit will be $51.64 million for 23.82 P/E if the $1.16 EPS becomes a reality. After $1.18 actual earnings per share reported by WEX Inc for the previous quarter, Wall Street now forecasts -1.69% negative EPS growth.
According to Zacks Investment Research, “WEX Inc. provides physical, digital and virtual corporate card payment solutions. The Company operates in two segments: Fleet Payment Solutions and Other Payment Solutions. The Fleet Payment Solutions segment provides customers with fleet vehicle payment processing services. The Other Payment Solutions segment provides customers with payment processing solutions for their corporate purchasing and transaction monitoring needs through its corporate purchase card, its prepaid and gift card products and services. WEX Inc., formerly known as Wright Express Corporation, is headquartered in South Portland, Maine.”
Partners Group Holding Ag holds 4.33% of its portfolio in WEX Inc for 207,453 shares. Daruma Capital Management Llc owns 573,098 shares or 3.32% of their US portfolio. Moreover, Champlain Investment Partners Llc has 2.38% invested in the company for 1.56 million shares. The Massachusetts-based Loring Wolcott & Coolidge Fiduciary Advisors Llp Ma has invested 1.48% in the stock. Atlanta Capital Management Co L L C, a Georgia-based fund reported 2.03 million shares.#img1#
Ratings analysis reveals 25% of WEX’s analysts are positive. Out of 16 Wall Street analysts rating WEX, 4 give it “Buy”, 1 “Sell” rating, while 11 recommend “Hold”. The lowest target is $2 while the high is $120. The stock’s average target of $79.15 is -28.38% below today’s ($110.51) share price. WEX was included in 34 notes of analysts from August 14, 2015. The stock of WEX Inc (NYSE:WEX) has “Outperform” rating given on Thursday, September 1 by CLSA. The firm has “Outperform” rating given on Friday, December 11 by Credit Suisse. SunTrust initiated the stock with “Neutral” rating in Friday, June 24 report. Barclays Capital initiated WEX Inc (NYSE:WEX) on Wednesday, August 19 with “Equal Weight” rating. The company was initiated on Friday, June 24 by Suntrust Robinson. The firm earned “Sell” rating on Tuesday, September 1 by Zacks. The company was downgraded on Thursday, April 28 by Wells Fargo. The rating was maintained by Deutsche Bank on Monday, September 21 with “Hold”. The firm has “Neutral” rating by Credit Suisse given on Monday, October 31. The rating was upgraded by Wells Fargo to “Outperform” on Friday, January 22.
WEX Inc., incorporated on June 18, 1999, is a well-known provider of corporate payment solutions. The Firm operates through three divisions: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides clients with payment and transaction processing services designed for the needs of commercial and government fleets. This segment also provides information management services to these fleet customers. The Travel and Corporate Solutions segment focuses on the complex payment environment of business-to-business payments, providing clients with payment processing solutions for their corporate payment and transaction monitoring needs. The Health and Employee Benefit Solutions segment provides healthcare payment products and software as a service (SaaS) consumer directed platforms, as well as payroll related benefits to clients in Brazil. The United States activities include the Company and its subsidiaries WEX Bank, WEX FleetOne, Evolution1 and Benaissance. The Company’s international activities include its subsidiaries, WEX Fuel Cards Australia, WEX Prepaid Cards Australia, WEX New Zealand, WEX Europe Limited, UNIK S.A., and an equity position in WEX Europe Services Limited and its subsidiaries.
More recent WEX Inc (NYSE:WEX) news were published by: Businesswire.com which released: “WEX Inc. Reports First Quarter 2016 Financial Results” on April 27, 2016. Also Businesswire.com published the news titled: “WEX Inc. and ExxonMobil Extend North American Fleet Card Contract for 10 More …” on October 27, 2016. Businesswire.com‘s news article titled: “WEX Inc. Reports Second Quarter 2016 Financial Results” with publication date: July 27, 2016 was also an interesting one.
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By Linda Rogers