Mutual of America Capital Management LLC Lowers Stake in WEX Inc. (NYSE:WEX)

Mutual of America Capital Management LLC lowered its stake in WEX Inc. (NYSE:WEX) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,205 shares of the business services provider’s stock after selling 1,787 shares during the period. Mutual of America Capital Management LLC’s holdings in WEX were worth $4,657,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WEX. Natixis Advisors LLC lifted its stake in shares of WEX by 300.4% in the 3rd quarter. Natixis Advisors LLC now owns 68,539 shares of the business services provider’s stock worth $14,375,000 after acquiring an additional 51,423 shares during the period. Zions Bancorporation N.A. lifted its position in WEX by 18.0% in the third quarter. Zions Bancorporation N.A. now owns 12,333 shares of the business services provider’s stock valued at $2,587,000 after purchasing an additional 1,877 shares during the period. KBC Group NV boosted its holdings in WEX by 13.0% in the 3rd quarter. KBC Group NV now owns 1,187 shares of the business services provider’s stock valued at $249,000 after purchasing an additional 137 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in WEX by 290.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 14,280 shares of the business services provider’s stock worth $2,995,000 after purchasing an additional 10,625 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of WEX by 2.0% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 34,770 shares of the business services provider’s stock worth $7,292,000 after buying an additional 678 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Insider Buying and Selling

In other WEX news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total value 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 trade was a 6.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. William Blair raised shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. JPMorgan Chase & Co. decreased their price objective 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. Finally, Bank of America increased their target price on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Six investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

WEX Stock Up 1.1 %

Shares of NYSE:WEX opened at $180.31 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $7.17 billion, a P/E ratio of 22.88, a P/E/G ratio of 1.40 and a beta of 1.57. WEX Inc. has a 52-week low of $165.51 and a 52-week high of $244.04. The stock’s fifty day simple moving average is $196.51 and its 200-day simple moving average is $188.33.

WEX (NYSE:WEX) last released its earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.44 EPS. As a group, equities research analysts forecast that WEX Inc. will post 13.2 earnings per share for the current fiscal 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.