Intech Investment Management LLC Makes New $827,000 Investment in WEX Inc. (NYSE:WEX)

Intech Investment Management LLC acquired a new stake in WEX Inc. (NYSE:WEX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,668 shares of the business services provider’s stock, valued at approximately $827,000.

Several other institutional investors also recently modified their holdings of WEX. Rise Advisors LLC acquired a new stake in WEX in the 1st quarter valued at about $29,000. International Assets Investment Management LLC bought a new stake in WEX in the second quarter valued at approximately $33,000. Blue Trust Inc. lifted its position 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 valued at $40,000 after buying an additional 187 shares during the last quarter. Covestor Ltd boosted its stake in shares of WEX by 233.9% during the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after acquiring an additional 131 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in shares of WEX during the 1st quarter worth approximately $60,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling at WEX

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

WEX Stock Down 2.4 %

WEX stock opened at $204.72 on Thursday. The company has a market cap of $8.41 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 1.24 and a beta of 1.54. The company has a quick ratio of 1.03, a current 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 business has a 50-day simple moving average of $186.45 and a 200 day simple moving average of $198.58.

WEX (NYSE:WEX) last issued its quarterly 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. The company had revenue of $673.50 million during the quarter, compared to the consensus estimate of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. Sell-side analysts anticipate that WEX Inc. will post 13.75 EPS for the current fiscal year.

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.