WEX Inc. (NYSE:WEX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in WEX Inc. (NYSE:WEX) by 10.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 7,865 shares of the business services provider’s stock after selling 918 shares during the period. Victory Capital Management Inc.’s holdings in WEX were worth $1,650,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WEX. Rice Hall James & Associates LLC raised its stake in WEX by 672.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 154,033 shares of the business services provider’s stock valued at $32,305,000 after acquiring an additional 134,099 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in WEX by 34.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock valued at $87,772,000 after buying an additional 126,663 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of WEX by 328.6% during the third quarter. New York State Common Retirement Fund now owns 127,570 shares of the business services provider’s stock valued at $26,755,000 after acquiring an additional 97,807 shares during the last quarter. Distillate Capital Partners LLC purchased a new position in shares of WEX during the second quarter valued at approximately $13,950,000. Finally, HM Payson & Co. lifted its stake in shares of WEX by 61.3% during the 3rd quarter. HM Payson & Co. now owns 149,341 shares of the business services provider’s stock worth $31,321,000 after purchasing an additional 56,775 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Bank of America boosted their target price on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company cut their target price on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Jefferies Financial Group upped their price target on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

WEX Trading Up 1.5 %

Shares of NYSE WEX opened at $188.15 on Tuesday. WEX Inc. has a 12-month low of $165.51 and a 12-month high of $244.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The stock’s 50 day simple moving average is $196.01 and its 200 day simple moving average is $187.80. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 1.47 and a beta of 1.57.

WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.82 by $0.53. The company had revenue of $665.50 million during the quarter, compared to analyst estimates of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.44 EPS. Equities research analysts expect that WEX Inc. will post 13.1 EPS for the current year.

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.