Algert Global LLC Boosts Position in WEX Inc. (NYSE:WEX)

Algert Global LLC increased its holdings in shares of WEX Inc. (NYSE:WEX) by 12.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,640 shares of the business services provider’s stock after purchasing an additional 2,294 shares during the quarter. Algert Global LLC owned approximately 0.05% of WEX worth $3,656,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WEX. Rise Advisors LLC purchased a new stake in WEX during the first quarter worth approximately $29,000. International Assets Investment Management LLC purchased a new stake in WEX during the second quarter worth approximately $33,000. Blue Trust Inc. lifted its stake in WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after purchasing an additional 187 shares during the last quarter. Covestor Ltd lifted its stake in WEX by 233.9% in the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after buying an additional 131 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in WEX in the first quarter valued at approximately $60,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Trading Up 0.2 %

Shares of WEX stock opened at $209.58 on Tuesday. 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 $8.61 billion, a PE ratio of 34.08, a P/E/G ratio of 1.24 and a beta of 1.54. WEX Inc. has a 1-year low of $161.95 and a 1-year high of $244.04. The business’s fifty day moving average price is $187.85 and its 200 day moving average price is $197.82.

WEX (NYSE:WEX) last posted its earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.09. The company had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. WEX had a return on equity of 31.05% and a net margin of 9.32%. As a group, sell-side analysts forecast that WEX Inc. will post 13.75 EPS for the current fiscal year.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Robert Joseph Deshaies sold 1,651 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value of $299,937.17. Following the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,985 shares of company stock valued at $1,094,907. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WEX shares. 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 note on Tuesday, August 20th. William Blair upgraded WEX to a “strong-buy” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods reduced their price objective on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Finally, 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 note 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $239.58.

WEX Company 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.