American Century Companies Inc. Has $1.85 Million Stock Position in WEX Inc. (NYSE:WEX)

American Century Companies Inc. grew its position in WEX Inc. (NYSE:WEX) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,425 shares of the business services provider’s stock after acquiring an additional 68 shares during the period. American Century Companies Inc.’s holdings in WEX were worth $1,847,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of WEX by 1.6% in 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 buying an additional 67,893 shares during the period. Wellington Management Group LLP raised its holdings in WEX by 6.1% in 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. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in WEX by 5.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock valued at $173,561,000 after acquiring an additional 48,182 shares during the period. Bessemer Group Inc. grew its position in shares of WEX by 0.6% during the 1st quarter. Bessemer Group Inc. now owns 735,313 shares of the business services provider’s stock worth $174,660,000 after purchasing an additional 4,262 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of WEX by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 378,969 shares of the business services provider’s stock worth $67,131,000 after purchasing an additional 17,989 shares in the last quarter. Institutional investors own 97.47% of the company’s stock.

Insider Buying and Selling at WEX

In related news, CFO Jagtar Narula sold 508 shares of the business’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 $1,424,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Jagtar Narula sold 508 shares of the company’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 $1,424,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert Joseph Deshaies sold 1,651 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 5,985 shares of company stock valued at $1,094,907 in the last three months. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WEX. Keefe, Bruyette & Woods cut their target price on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. JPMorgan Chase & Co. cut their price target on shares of 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 lowered their price objective on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report 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 equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.58.

WEX Stock Performance

Shares of WEX stock opened at $209.10 on Friday. The firm has a market capitalization of $8.76 billion, a P/E ratio of 34.00, a PEG ratio of 1.25 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. The company has a 50 day moving average price of $187.34 and a 200 day moving average price of $198.48. WEX Inc. has a 52 week low of $161.95 and a 52 week high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 EPS 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 analysts’ expectations of $677.44 million. Sell-side analysts expect that WEX Inc. will post 13.75 EPS for the current 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.