WEX Inc. (NYSE:WEX) Shares Bought by Long Road Investment Counsel LLC

Long Road Investment Counsel LLC grew its holdings in shares of WEX Inc. (NYSE:WEX) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,699 shares of the business services provider’s stock after purchasing an additional 100 shares during the quarter. WEX makes up about 2.1% of Long Road Investment Counsel LLC’s portfolio, making the stock its 15th biggest holding. Long Road Investment Counsel LLC owned approximately 0.06% of WEX worth $4,729,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of WEX during the 4th quarter worth $89,745,000. Kodai Capital Management LP purchased a new position in shares of WEX during the 4th quarter worth $49,750,000. Wellington Management Group LLP raised its holdings in shares of WEX by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after acquiring an additional 179,813 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of WEX by 34.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock worth $87,772,000 after acquiring an additional 126,663 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of WEX by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock worth $816,919,000 after acquiring an additional 67,893 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Up 0.5 %

Shares of NYSE:WEX opened at $207.11 on Friday. 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 $8.68 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.54. The firm’s 50-day moving average is $185.29 and its two-hundred day moving average is $199.00. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Keefe, Bruyette & Woods reduced their price objective on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. reduced their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Finally, William Blair upgraded shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.58.

Insider Transactions at WEX

In other news, CFO Jagtar Narula sold 540 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 7,628 shares of the company’s stock, valued at $1,449,320. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Jagtar Narula sold 540 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 7,628 shares of the company’s stock, valued at $1,449,320. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert Joseph Deshaies sold 1,651 shares of the company’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 value of $299,937.17. Following the completion of the transaction, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at $1,409,214.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,985 shares of company stock valued at $1,094,907. 1.10% of the stock is currently owned by corporate insiders.

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.