SG Americas Securities LLC Makes New $390,000 Investment in WEX Inc. (NYSE:WEX)

SG Americas Securities LLC purchased a new stake in shares of WEX Inc. (NYSE:WEX) during the second quarter, HoldingsChannel.com reports. The fund purchased 2,201 shares of the business services provider’s stock, valued at approximately $390,000.

Other large investors have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in WEX in the first quarter worth approximately $29,000. GAMMA Investing LLC bought a new stake in shares of WEX in the fourth quarter worth $27,000. Principal Securities Inc. bought a new stake in shares of WEX in the fourth quarter worth $31,000. Covestor Ltd increased its position in 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 acquiring an additional 131 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in WEX in the first quarter valued at about $60,000. 97.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $190.00, for a total value of $102,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,628 shares of the company’s stock, valued at $1,449,320. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Melanie J. Tinto sold 1,564 shares of WEX stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the completion of the transaction, 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 SEC, which is accessible through the SEC website. Also, CFO Jagtar Narula sold 540 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $190.00, for a total transaction of $102,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,628 shares in the company, valued at approximately $1,449,320. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,826 shares of company stock worth $693,369. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. William Blair upgraded shares of WEX to a “strong-buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. decreased their target price on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased 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, Keefe, Bruyette & Woods lowered their target price on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $239.58.

WEX Trading Up 1.0 %

Shares of WEX stock opened at $181.61 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 1.06 and a beta of 1.54. The company’s 50-day moving average price is $177.62 and its 200-day moving average price is $202.59. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04.

WEX (NYSE:WEX) last posted its earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, beating 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 company had revenue of $673.50 million for the quarter, compared to analysts’ expectations of $677.44 million. As a group, equities analysts predict that WEX Inc. will post 13.73 earnings per share 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.