Tyers Asset Management LLC Has $1.31 Million Position in WEX Inc (NYSE:WEX)

Tyers Asset Management LLC lessened its stake in WEX Inc (NYSE:WEX) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,270 shares of the business services provider’s stock after selling 66 shares during the period. Tyers Asset Management LLC’s holdings in WEX were worth $1,305,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of WEX by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 405,047 shares of the business services provider’s stock valued at $56,730,000 after buying an additional 23,136 shares during the period. First Republic Investment Management Inc. lifted its stake in shares of WEX by 13.5% during the first quarter. First Republic Investment Management Inc. now owns 2,826 shares of the business services provider’s stock valued at $543,000 after acquiring an additional 337 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in WEX by 9.9% in the first quarter. Crossmark Global Holdings Inc. now owns 4,901 shares of the business services provider’s stock valued at $941,000 after buying an additional 443 shares during the period. Stephens Inc. AR grew its stake in WEX by 3.5% in the first quarter. Stephens Inc. AR now owns 11,544 shares of the business services provider’s stock valued at $2,216,000 after acquiring an additional 389 shares during the period. Finally, First Mercantile Trust Co. increased its holdings in shares of WEX by 17.8% in the first quarter. First Mercantile Trust Co. now owns 4,100 shares of the business services provider’s stock worth $787,000 after acquiring an additional 620 shares in the last quarter. Hedge funds and other institutional investors own 99.37% of the company’s stock.

In other news, insider Scott Robert Phillips sold 15,973 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $208.44, for a total transaction of $3,329,412.12. Following the completion of the transaction, the insider now owns 9,850 shares of the company’s stock, valued at approximately $2,053,134. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Melissa D. Smith sold 15,556 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $209.99, for a total value of $3,266,604.44. Following the transaction, the chief executive officer now directly owns 78,839 shares of the company’s stock, valued at approximately $16,555,401.61. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

NYSE WEX traded up $1.11 on Wednesday, hitting $205.10. 3,600 shares of the stock were exchanged, compared to its average volume of 210,357. The company has a market capitalization of $8.83 billion, a PE ratio of 26.84, a P/E/G ratio of 1.68 and a beta of 1.56. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.42 and a quick ratio of 1.42. The business’s fifty day moving average is $205.01 and its 200 day moving average is $199.99. WEX Inc has a 52 week low of $131.35 and a 52 week high of $221.66.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.20. The company had revenue of $441.81 million during the quarter, compared to the consensus estimate of $440.49 million. WEX had a net margin of 6.84% and a return on equity of 17.88%. The company’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.07 EPS. Analysts predict that WEX Inc will post 8.33 EPS for the current fiscal year.

Several brokerages recently commented on WEX. Zacks Investment Research upgraded shares of WEX from a “hold” rating to a “buy” rating and set a $214.00 target price for the company in a report on Saturday, June 15th. Deutsche Bank boosted their price target on shares of WEX from $209.00 to $223.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. ValuEngine downgraded shares of WEX from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley raised their price objective on WEX from $197.00 to $204.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, Barclays lowered their target price on WEX from $260.00 to $253.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $223.00.

About WEX

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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