Champlain Investment Partners Lowers stake in WEX Inc (WEX)

WEX Inc (WEX) : Champlain Investment Partners reduced its stake in WEX Inc by 5.97% during the most recent quarter end. The investment management company now holds a total of 1,550,010 shares of WEX Inc which is valued at $135 Million after selling 98,345 shares in WEX Inc , the firm said in a disclosure report filed with the SEC on May 11, 2016.WEX Inc makes up approximately 2.45% of Champlain Investment Partners’s portfolio.

Other Hedge Funds, Including , Timessquare Capital Management boosted its stake in WEX in the latest quarter, The investment management firm added 134,035 additional shares and now holds a total of 1,331,154 shares of WEX Inc which is valued at $115.9 Million. WEX Inc makes up approx 0.76% of Timessquare Capital Management’s portfolio.Mutual Of America Capital Management boosted its stake in WEX in the latest quarter, The investment management firm added 108 additional shares and now holds a total of 26,395 shares of WEX Inc which is valued at $2.3 Million. WEX Inc makes up approx 0.05% of Mutual Of America Capital Management’s portfolio.Penserra Capital Management boosted its stake in WEX in the latest quarter, The investment management firm added 39 additional shares and now holds a total of 2,211 shares of WEX Inc which is valued at $192,534. WEX Inc makes up approx 0.03% of Penserra Capital Management’s portfolio.Municipal Employees’ Retirement System Of Michigan boosted its stake in WEX in the latest quarter, The investment management firm added 510 additional shares and now holds a total of 12,880 shares of WEX Inc which is valued at $1.2 Million. WEX Inc makes up approx 0.08% of Municipal Employees’ Retirement System Of Michigan’s portfolio.

WEX Inc opened for trading at $87.51 and hit $89.045 on the upside on Monday, eventually ending the session at $88.66, with a gain of 1.81% or 1.58 points. The heightened volatility saw the trading volume jump to 3,11,847 shares. Company has a market cap of $3,431 M.

On the company’s financial health, WEX Inc reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.86. The company had revenue of $205.90 million for the quarter, compared to analysts expectations of $199.87 million. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS.

Many Wall Street Analysts have commented on WEX Inc. WEX Inc was Upgraded by JP Morgan to ” Neutral” on Apr 29, 2016. Company shares were Reiterated by Barclays on Apr 28, 2016 to “Underweight”, Firm has raised the Price Target to $ 80 from a previous price target of $66 .WEX Inc was Downgraded by Wells Fargo to ” Market Perform” on Apr 28, 2016.

WEX Inc. is a provider of corporate payment solutions. The Company operates in two segments: Fleet Payment Solutions and Other Payment Solutions. The Company’s Fleet Payment Solutions segment provides customers with fleet vehicle payment processing services for commercial and Government fleets. Its Other Payment Solutions segment comprises its virtual healthcare paycard and prepaid products. The Company’s United States operations include the Company and its wholly owned subsidiaries WEX Bank FleetOne and Evolution1. Its international operations include its wholly owned subsidiaries WEX Fuel Cards Australia WEX Prepaid Cards Australia WEX New Zealand WEX Europe Limited UNIK S.A. and WEX Europe Services Limited and its subsidiaries.

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