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

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

Several other large investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in WEX by 0.7% during the second quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock worth $1,847,000 after buying an additional 68 shares during the period. Ballentine Partners LLC raised its holdings in shares of WEX by 3.3% in the 2nd quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock worth $396,000 after purchasing an additional 72 shares during the period. Cozad Asset Management Inc. raised its holdings in shares of WEX by 2.1% in the 1st quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider’s stock worth $1,148,000 after purchasing an additional 100 shares during the period. Long Road Investment Counsel LLC raised its holdings in shares of WEX by 0.4% in the 2nd quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider’s stock worth $4,729,000 after purchasing an additional 100 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of WEX by 8.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,292 shares of the business services provider’s stock worth $229,000 after purchasing an additional 102 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Price Performance

Shares of NYSE WEX opened at $209.58 on Tuesday. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The business has a 50 day moving average price of $187.85 and a two-hundred day moving average price of $197.82. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. The firm has a market cap of $8.61 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.54.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.09. WEX had a return on equity of 31.05% and a net margin of 9.32%. The firm had revenue of $673.50 million during the quarter, compared to analyst estimates of $677.44 million. Sell-side analysts expect that WEX Inc. will post 13.75 earnings per share for the current fiscal year.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction that occurred 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 owns 7,120 shares in the company, valued at approximately $1,424,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other WEX news, CFO Jagtar Narula sold 508 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ann Elena Drew sold 1,182 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $172.73, for a total value of $204,166.86. Following the transaction, the insider now directly owns 5,584 shares in the company, valued at approximately $964,524.32. The disclosure for this sale can be found here. Insiders sold a total of 5,985 shares of company stock worth $1,094,907 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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