WEX Inc. (NYSE:WEX) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its stake in shares of WEX Inc. (NYSE:WEX) by 6.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 414,323 shares of the business services provider’s stock after selling 26,717 shares during the period. Primecap Management Co. CA owned approximately 1.01% of WEX worth $73,393,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of WEX during the 4th quarter valued at about $89,745,000. Kodai Capital Management LP acquired a new stake in shares of WEX during the 4th quarter valued at about $49,750,000. Wellington Management Group LLP grew its position 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 valued at $607,482,000 after acquiring an additional 179,813 shares during the period. Dimensional Fund Advisors LP grew its position 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 valued at $87,772,000 after acquiring an additional 126,663 shares during the period. Finally, Vanguard Group Inc. grew its position 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 valued at $816,919,000 after acquiring an additional 67,893 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

WEX Trading Up 1.7 %

WEX opened at $202.80 on Wednesday. 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 company’s 50 day simple moving average is $183.83 and its two-hundred day simple moving average is $199.21. WEX Inc. has a 1-year low of $161.95 and a 1-year high of $244.04. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 1.19 and a beta of 1.54.

WEX (NYSE:WEX) last released its earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share 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 business had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. Analysts expect that WEX Inc. will post 13.75 EPS for the current fiscal year.

Insider Activity

In other news, COO Robert Joseph Deshaies sold 1,651 shares of WEX stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the sale, the chief operating officer now owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Robert Joseph Deshaies sold 1,651 shares of WEX stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the sale, the chief operating officer now owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jagtar Narula sold 540 shares of WEX stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00. Following the sale, the chief financial officer now directly owns 8,168 shares in the company, valued at approximately $1,470,240. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,985 shares of company stock valued at $1,094,907. 1.10% of the stock is currently owned by company 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.