WEX Inc. (NYSE:WEX) Stake Lifted by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC lifted its holdings in WEX Inc. (NYSE:WEX) by 27.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,936 shares of the business services provider’s stock after purchasing an additional 14,444 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in WEX were worth $11,857,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Rise Advisors LLC purchased a new stake in shares of WEX during the first quarter valued at $29,000. Principal Securities Inc. acquired a new position in shares of WEX during the 4th quarter valued at about $31,000. International Assets Investment Management LLC bought a new stake in WEX during the 2nd quarter valued at approximately $33,000. Covestor Ltd boosted its stake in WEX by 233.9% during the 1st 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. Finally, Blue Trust Inc. boosted its stake in WEX by 456.1% during the 2nd 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. Institutional investors and hedge funds own 97.47% of the company’s stock.

Insider Activity at WEX

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

WEX Stock Up 2.6 %

WEX stock opened at $198.71 on Monday. The stock has a market capitalization of $8.16 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 1.15 and a beta of 1.54. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. WEX Inc. has a 12 month low of $161.95 and a 12 month high of $244.04. The firm has a 50-day moving average price of $182.92 and a 200-day moving average price of $199.47.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.09. The business had revenue of $673.50 million during the quarter, compared to analyst estimates of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. As a group, equities research analysts anticipate that WEX Inc. will post 13.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WEX has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price objective on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. William Blair upgraded WEX to a “strong-buy” rating in a research report on Friday, July 26th. Wells Fargo & Company reduced their price objective on WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods cut their target price on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Six 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.58.

About WEX

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.