Migdal Insurance & Financial Holdings Ltd. Sells 813 Shares of WEX Inc (WEX)

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Migdal Insurance & Financial Holdings Ltd. decreased its holdings in WEX Inc (NYSE:WEX) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,079 shares of the business services provider’s stock after selling 813 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in WEX were worth $1,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in WEX by 14.5% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,204,643 shares of the business services provider’s stock valued at $231,279,000 after acquiring an additional 152,398 shares in the last quarter. Ipswich Investment Management Co. Inc. acquired a new stake in WEX in the fourth quarter valued at approximately $32,000. Advisors Capital Management LLC acquired a new stake in WEX in the fourth quarter valued at approximately $363,000. Texas Permanent School Fund raised its holdings in WEX by 4.0% in the fourth quarter. Texas Permanent School Fund now owns 28,206 shares of the business services provider’s stock valued at $3,951,000 after acquiring an additional 1,092 shares in the last quarter. Finally, Morgan Stanley raised its holdings in WEX by 41.1% in the third quarter. Morgan Stanley now owns 68,827 shares of the business services provider’s stock valued at $13,818,000 after acquiring an additional 20,040 shares in the last quarter. 99.63% of the stock is owned by institutional investors and hedge funds.

Several analysts recently weighed in on WEX shares. ValuEngine raised shares of WEX from a “hold” rating to a “buy” rating in a report on Friday, February 8th. BTIG Research started coverage on shares of WEX in a report on Thursday, January 17th. They issued a “buy” rating and a $198.00 target price on the stock. SunTrust Banks raised their target price on shares of WEX from $170.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Mizuho raised their target price on shares of WEX from $190.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Morgan Stanley raised their target price on shares of WEX from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. WEX presently has a consensus rating of “Buy” and an average price target of $201.42.

In other WEX news, insider David G. Cooper sold 167 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $186.05, for a total transaction of $31,070.35. Following the sale, the insider now owns 14,674 shares of the company’s stock, valued at $2,730,097.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Melissa D. Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $195.00, for a total transaction of $975,000.00. Following the sale, the chief executive officer now directly owns 80,783 shares in the company, valued at approximately $15,752,685. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,244 shares of company stock worth $2,204,713. 4.57% of the stock is owned by corporate insiders.

WEX stock traded up $1.56 during midday trading on Friday, reaching $205.80. 1,361 shares of the company were exchanged, compared to its average volume of 362,563. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.19. WEX Inc has a 1-year low of $131.35 and a 1-year high of $212.13. The stock has a market cap of $9.09 billion, a P/E ratio of 26.95, a PEG ratio of 1.66 and a beta of 1.53.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.53. WEX had a net margin of 11.18% and a return on equity of 18.30%. The company had revenue of $381.90 million for the quarter, compared to analysts’ expectations of $379.57 million. During the same quarter last year, the company earned $1.81 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts predict that WEX Inc will post 8.46 earnings per share for the current year.

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WEX Profile

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. 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.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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