Retirement Planning Co of New England Inc. Raises Stock Holdings in WEX Inc. (NYSE:WEX)

Retirement Planning Co of New England Inc. raised its position in shares of WEX Inc. (NYSE:WEX) by 8.9% during the 2nd quarter, Holdings Channel reports. The firm owned 1,671 shares of the business services provider’s stock after buying an additional 136 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in WEX were worth $296,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in WEX during the first quarter valued at approximately $29,000. Principal Securities Inc. acquired a new position in WEX in the 4th quarter worth about $31,000. International Assets Investment Management LLC purchased a new position in WEX during the second quarter worth approximately $33,000. Blue Trust Inc. grew its holdings in WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 187 shares during the period. Finally, Covestor Ltd grew its holdings in WEX by 233.9% in the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 131 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Price Performance

WEX stock opened at $198.71 on Friday. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $8.16 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 1.15 and a beta of 1.54. The business has a 50 day simple moving average of $182.92 and a 200-day simple moving average of $199.75.

WEX (NYSE:WEX) last issued its earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share (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 company had revenue of $673.50 million during the quarter, compared to analysts’ expectations of $677.44 million. Equities research analysts anticipate that WEX Inc. will post 13.75 earnings per share for the current fiscal year.

Insider Activity at WEX

In other WEX news, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $190.00, for a total value of $102,600.00. Following the transaction, the chief financial officer now directly owns 7,628 shares in the company, valued at approximately $1,449,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at approximately $1,409,214.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jagtar Narula sold 540 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $190.00, for a total transaction of $102,600.00. Following the transaction, the chief financial officer now directly owns 7,628 shares of the company’s stock, valued at approximately $1,449,320. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,477 shares of company stock valued at $993,307. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

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

WEX Company 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.