Burney Co. Raises Stock Position in WEX Inc. (NYSE:WEX)

Burney Co. grew its holdings in shares of WEX Inc. (NYSE:WEX) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,802 shares of the business services provider’s stock after buying an additional 382 shares during the quarter. Burney Co.’s holdings in WEX were worth $2,976,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Rise Advisors LLC purchased a new stake in shares of WEX in the first quarter valued at $29,000. GAMMA Investing LLC bought a new stake in WEX in the fourth quarter worth about $27,000. Principal Securities Inc. purchased a new position in shares of WEX during the fourth quarter valued at approximately $31,000. Covestor Ltd grew its stake in shares of WEX by 233.9% during 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, Blue Trust Inc. raised its holdings in shares of 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 buying an additional 187 shares during the period. Institutional investors own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

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

WEX Stock Up 2.0 %

Shares of NYSE:WEX traded up $3.70 on Thursday, reaching $190.87. The company had a trading volume of 157,715 shares, compared to its average volume of 332,939. The firm has a market capitalization of $8.00 billion, a PE ratio of 30.94, a PEG ratio of 1.11 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 52-week low of $161.95 and a 52-week high of $244.04. The firm’s 50 day simple moving average is $179.18 and its 200-day simple moving average is $201.95.

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

Insider Transactions at WEX

In related news, COO Robert Joseph Deshaies sold 1,651 shares of the 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 approximately $1,409,214.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Melanie J. Tinto sold 1,564 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total transaction of $289,402.56. Following the sale, the insider now directly owns 8,461 shares of the company’s stock, valued at $1,565,623.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert Joseph Deshaies sold 1,651 shares of WEX stock in a transaction dated 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 owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. The disclosure for this sale can be found here. Insiders sold 5,477 shares of company stock valued at $993,307 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

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.