Stephens Investment Management Group LLC Has $61.58 Million Position in WEX Inc (NYSE:WEX)

Stephens Investment Management Group LLC reduced its holdings in shares of WEX Inc (NYSE:WEX) by 10.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 295,923 shares of the business services provider’s stock after selling 34,455 shares during the period. WEX accounts for about 1.2% of Stephens Investment Management Group LLC’s portfolio, making the stock its 19th largest position. Stephens Investment Management Group LLC’s holdings in WEX were worth $61,582,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Cleararc Capital Inc. bought a new position in WEX during the 1st quarter valued at about $213,000. Retirement Systems of Alabama lifted its holdings in WEX by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 56,255 shares of the business services provider’s stock valued at $11,707,000 after purchasing an additional 145 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in WEX by 0.7% during the 1st quarter. William Blair Investment Management LLC now owns 859,569 shares of the business services provider’s stock valued at $165,029,000 after purchasing an additional 6,130 shares during the last quarter. Alta Capital Management LLC bought a new position in WEX during the 1st quarter valued at about $266,000. Finally, Columbus Circle Investors lifted its holdings in WEX by 26.1% during the 1st quarter. Columbus Circle Investors now owns 177,755 shares of the business services provider’s stock valued at $34,127,000 after purchasing an additional 36,816 shares during the last quarter. Institutional investors and hedge funds own 98.79% of the company’s stock.

Several equities analysts recently issued reports on the stock. Deutsche Bank lifted their price target on shares of WEX from $209.00 to $223.00 and gave the company a “buy” rating in a report on Friday, June 21st. Jefferies Financial Group boosted their target price on shares of WEX from $210.00 to $230.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. ValuEngine downgraded shares of WEX from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup set a $260.00 target price on shares of WEX and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, BTIG Research boosted their target price on shares of WEX from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. WEX currently has an average rating of “Buy” and a consensus target price of $223.00.

Shares of NYSE WEX traded down $0.68 during trading on Thursday, reaching $194.88. The company had a trading volume of 4,691 shares, compared to its average volume of 339,332. WEX Inc has a 52 week low of $131.35 and a 52 week high of $221.66. The stock has a market cap of $8.46 billion, a PE ratio of 25.54, a PEG ratio of 1.62 and a beta of 1.55. The company has a current ratio of 1.42, a quick ratio of 1.39 and a debt-to-equity ratio of 1.50. The business’s 50 day moving average is $210.15.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $2.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.08 by $0.20. The business 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%. WEX’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.07 earnings per share. As a group, equities analysts expect that WEX Inc will post 8.39 EPS for the current year.

In related news, insider Scott Robert Phillips sold 8,298 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total transaction of $1,701,090.00. Following the completion of the sale, the insider now directly owns 9,850 shares of the company’s stock, valued at $2,019,250. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Melissa D. Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $205.00, for a total transaction of $1,025,000.00. Following the sale, the chief executive officer now directly owns 70,783 shares of the company’s stock, valued at $14,510,515. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,346 shares of company stock valued at $2,940,207. 1.12% of the stock is currently owned by insiders.

WEX Company Profile

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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