Townsquare Capital LLC Buys 793 Shares of WEX Inc. (NYSE:WEX)

Townsquare Capital LLC boosted its position in WEX Inc. (NYSE:WEX) by 22.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,296 shares of the business services provider’s stock after purchasing an additional 793 shares during the quarter. Townsquare Capital LLC’s holdings in WEX were worth $901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rice Hall James & Associates LLC boosted its position in shares of WEX by 672.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 154,033 shares of the business services provider’s stock valued at $32,305,000 after acquiring an additional 134,099 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in WEX by 34.3% in the second quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock valued at $87,772,000 after purchasing an additional 126,663 shares in the last quarter. FMR LLC lifted its holdings in shares of WEX by 8.8% during the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock worth $326,237,000 after acquiring an additional 125,262 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of WEX by 328.6% in the third quarter. New York State Common Retirement Fund now owns 127,570 shares of the business services provider’s stock worth $26,755,000 after buying an additional 97,807 shares during the period. Finally, Distillate Capital Partners LLC bought a new position in WEX during the 2nd quarter worth approximately $13,950,000. Hedge funds and other 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 WEX stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This trade represents a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

WEX has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price objective on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Jefferies Financial Group boosted their price target on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird cut their price objective on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Bank of America upped their target price on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, 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. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $235.91.

WEX Stock Performance

Shares of NYSE:WEX opened at $189.31 on Tuesday. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 1.49 and a beta of 1.57. The firm’s 50-day moving average is $194.12 and its 200 day moving average is $187.10. WEX Inc. has a 12 month low of $165.51 and a 12 month high of $244.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87.

WEX (NYSE:WEX) last issued its earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $3.82 by $0.53. The business 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 company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $3.44 earnings per share. Research analysts predict that WEX Inc. will post 13.1 EPS for the current year.

WEX 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.