Primecap Management Co. CA Sells 20,440 Shares of WEX Inc. (NYSE:WEX)

Primecap Management Co. CA decreased its holdings in WEX Inc. (NYSE:WEX) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 454,650 shares of the business services provider’s stock after selling 20,440 shares during the period. Primecap Management Co. CA owned about 1.06% of WEX worth $88,452,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WEX. California Public Employees Retirement System raised its stake in WEX by 1.0% in the 3rd quarter. California Public Employees Retirement System now owns 85,155 shares of the business services provider’s stock valued at $16,017,000 after acquiring an additional 872 shares during the period. Signaturefd LLC raised its position in shares of WEX by 131.4% in the third quarter. Signaturefd LLC now owns 516 shares of the business services provider’s stock valued at $97,000 after purchasing an additional 293 shares during the period. Victory Capital Management Inc. lifted its stake in shares of WEX by 2.5% during the 3rd quarter. Victory Capital Management Inc. now owns 7,742 shares of the business services provider’s stock worth $1,456,000 after buying an additional 186 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of WEX during the 3rd quarter worth about $22,115,000. Finally, HM Payson & Co. boosted its holdings in shares of WEX by 313.3% during the 3rd quarter. HM Payson & Co. now owns 132,080 shares of the business services provider’s stock worth $24,843,000 after buying an additional 100,120 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Mizuho raised their price objective on shares of WEX from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. William Blair reiterated an “outperform” rating on shares of WEX in a research report on Thursday, February 8th. TheStreet raised shares of WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. raised their price target on shares of WEX from $205.00 to $239.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, StockNews.com lowered shares of WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $240.00.

WEX Price Performance

Shares of WEX traded down $0.81 during mid-day trading on Friday, reaching $187.76. The company had a trading volume of 334,746 shares, compared to its average volume of 363,222. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 1.09 and a beta of 1.60. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06. The company’s 50 day simple moving average is $222.27 and its 200 day simple moving average is $207.00. WEX Inc. has a 1-year low of $161.95 and a 1-year high of $244.04.

WEX (NYSE:WEX) last posted its earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.15. WEX had a net margin of 10.21% and a return on equity of 30.92%. The firm had revenue of $652.70 million for the quarter, compared to analysts’ expectations of $653.52 million. Analysts expect that WEX Inc. will post 13.98 EPS for the current year.

Insider Buying and Selling at WEX

In related news, CFO Jagtar Narula sold 309 shares of WEX stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total transaction of $72,071.16. Following the sale, the chief financial officer now directly owns 5,528 shares in the company, valued at approximately $1,289,350.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other WEX news, SVP Sara Trickett sold 734 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total value of $154,455.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the transaction, the chief financial officer now owns 5,528 shares of the company’s stock, valued at $1,289,350.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,865 shares of company stock worth $1,262,019. 1.10% of the stock is currently owned by insiders.

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.