Allianz Asset Management GmbH Grows Stake in WEX Inc (WEX)

Allianz Asset Management GmbH lifted its position in shares of WEX Inc (NYSE:WEX) by 115.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,597 shares of the business services provider’s stock after purchasing an additional 36,827 shares during the period. Allianz Asset Management GmbH owned about 0.16% of WEX worth $13,771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of WEX by 6.8% during the third quarter. BlackRock Inc. now owns 3,720,426 shares of the business services provider’s stock worth $746,912,000 after purchasing an additional 236,285 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of WEX by 2.6% during the third quarter. William Blair Investment Management LLC now owns 1,054,791 shares of the business services provider’s stock worth $211,760,000 after purchasing an additional 26,661 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of WEX by 1.6% during the third quarter. Frontier Capital Management Co. LLC now owns 882,349 shares of the business services provider’s stock worth $177,140,000 after purchasing an additional 13,890 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of WEX by 31.6% during the third quarter. Victory Capital Management Inc. now owns 658,395 shares of the business services provider’s stock worth $132,180,000 after purchasing an additional 158,212 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of WEX by 5.5% during the third quarter. Bank of New York Mellon Corp now owns 446,851 shares of the business services provider’s stock worth $89,710,000 after purchasing an additional 23,169 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

WEX stock opened at $153.48 on Monday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $6.62 billion, a P/E ratio of 32.66, a P/E/G ratio of 1.35 and a beta of 1.69. WEX Inc has a one year low of $128.00 and a one year high of $203.49.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, October 31st. The business services provider reported $2.19 EPS for the quarter, topping the Zacks’ consensus estimate of $2.12 by $0.07. The company had revenue of $382.70 million for the quarter, compared to analyst estimates of $375.15 million. WEX had a return on equity of 16.92% and a net margin of 15.63%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 earnings per share. Equities analysts predict that WEX Inc will post 7.59 earnings per share for the current fiscal year.

WEX has been the topic of a number of recent analyst reports. Wells Fargo & Co raised WEX from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $190.00 to $200.00 in a research note on Thursday, November 1st. ValuEngine lowered WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Barclays initiated coverage on WEX in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $211.00 price objective on the stock. Zacks Investment Research raised WEX from a “hold” rating to a “buy” rating and set a $211.00 price objective on the stock in a research note on Saturday, October 13th. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $186.00 price objective on shares of WEX in a research note on Wednesday, November 21st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $198.50.

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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 and processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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