Mutual of America Capital Management LLC Sells 1,472 Shares of WEX Inc. (NYSE:WEX)

Mutual of America Capital Management LLC trimmed its position in WEX Inc. (NYSE:WEX) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,992 shares of the business services provider’s stock after selling 1,472 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of WEX worth $4,250,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of WEX in the first quarter worth about $29,000. Principal Securities Inc. bought a new stake in shares of WEX in the fourth quarter worth about $31,000. International Assets Investment Management LLC bought a new stake in shares of WEX in the second quarter worth about $33,000. Blue Trust Inc. grew its position in WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after acquiring an additional 187 shares in the last quarter. Finally, Covestor Ltd grew its position in WEX by 233.9% in the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after acquiring an additional 131 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the sale, the insider now owns 5,584 shares in the company, valued at approximately $964,524.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Ann Elena Drew sold 1,182 shares of WEX stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the transaction, the insider now directly owns 5,584 shares of the company’s stock, valued at $964,524.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jagtar Narula sold 540 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $180.00, for a total value of $97,200.00. Following the sale, the chief financial officer now owns 8,168 shares of the company’s stock, valued at approximately $1,470,240. The disclosure for this sale can be found here. Insiders have sold a total of 5,985 shares of company stock worth $1,094,907 in the last three months. Corporate insiders own 1.10% of the company’s stock.

WEX Stock Up 0.5 %

Shares of NYSE WEX opened at $207.11 on Monday. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 1.19 and a beta of 1.54. The stock has a 50 day moving average price of $185.29 and a 200 day moving average price of $198.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03.

WEX (NYSE:WEX) last posted 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. The business had revenue of $673.50 million for the quarter, compared to the consensus estimate of $677.44 million. WEX had a return on equity of 31.05% and a net margin of 9.32%. Sell-side analysts expect that WEX Inc. will post 13.75 earnings per share for the current year.

Wall Street Analyst Weigh In

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

WEX 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.