Mutual of America Capital Management LLC Decreases Holdings in WEX Inc. (NYSE:WEX)

Mutual of America Capital Management LLC decreased its position in shares of WEX Inc. (NYSE:WEX) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,992 shares of the business services provider’s stock after selling 1,472 shares during the period. Mutual of America Capital Management LLC’s holdings in WEX were worth $4,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WEX. Norges Bank purchased a new stake in WEX during the fourth quarter valued at approximately $89,745,000. Kodai Capital Management LP purchased a new stake in WEX during the fourth quarter valued at approximately $49,750,000. Wellington Management Group LLP lifted its position in WEX by 6.1% during the fourth 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 last quarter. Dimensional Fund Advisors LP lifted its position in WEX by 34.3% during 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 acquiring an additional 126,663 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in WEX by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock valued at $816,919,000 after acquiring an additional 67,893 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Up 0.5 %

WEX stock opened at $207.11 on Monday. The firm has a market cap of $8.68 billion, a PE ratio of 33.68, a P/E/G ratio of 1.19 and a beta of 1.54. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s fifty day moving average is $185.29 and its 200 day moving average is $198.81. WEX Inc. has a one year low of $161.95 and a one year high of $244.04.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.20 by $0.09. The company had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. On average, research analysts forecast that WEX Inc. will post 13.75 EPS for the current year.

Analyst Upgrades and Downgrades

WEX has been the topic of a number of recent analyst reports. Wells Fargo & Company cut 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. Keefe, Bruyette & Woods cut their price target on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note 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 research note on Tuesday, August 20th. Finally, William Blair upgraded shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, WEX presently has an average rating of “Moderate Buy” and a consensus target price of $239.58.

Insider Buying and Selling at WEX

In other WEX news, insider Melanie J. Tinto sold 1,564 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total transaction of $289,402.56. Following the transaction, the insider now directly owns 8,461 shares of the company’s stock, valued at $1,565,623.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other WEX news, insider Melanie J. Tinto sold 1,564 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total transaction of $289,402.56. Following the transaction, the insider now directly owns 8,461 shares of the company’s stock, valued at $1,565,623.44. The transaction 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 stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00. Following the transaction, the chief financial officer now directly owns 8,168 shares in the company, valued at $1,470,240. The disclosure for this sale can be found here. Insiders have sold a total of 5,985 shares of company stock valued at $1,094,907 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

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.