New South Capital Management Inc. Has $10.11 Million Position in WEX Inc. (NYSE:WEX)

New South Capital Management Inc. lessened its holdings in WEX Inc. (NYSE:WEX) by 31.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,064 shares of the business services provider’s stock after selling 26,218 shares during the period. New South Capital Management Inc. owned about 0.14% of WEX worth $10,108,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WEX. Los Angeles Capital Management LLC lifted its holdings in shares of WEX by 4.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,733 shares of the business services provider’s stock valued at $337,000 after buying an additional 72 shares during the last quarter. Cozad Asset Management Inc. raised its position in WEX by 2.1% during the first quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider’s stock valued at $1,148,000 after acquiring an additional 100 shares in the last quarter. Rise Advisors LLC acquired a new stake in WEX in the first quarter valued at approximately $29,000. CWM LLC grew its position in WEX by 37.3% in the second quarter. CWM LLC now owns 453 shares of the business services provider’s stock worth $80,000 after acquiring an additional 123 shares in the last quarter. Finally, Wisconsin Capital Management LLC increased its stake in shares of WEX by 0.4% during the 2nd quarter. Wisconsin Capital Management LLC now owns 29,272 shares of the business services provider’s stock worth $5,185,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analyst Upgrades and Downgrades

WEX has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Wells Fargo & Company decreased their price target on WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, July 26th. Keefe, Bruyette & Woods cut their price objective on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Finally, William Blair upgraded WEX to a “strong-buy” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $239.58.

WEX Price Performance

NYSE:WEX opened at $186.35 on Friday. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 1.12 and a beta of 1.54. The company has a 50-day moving average of $181.23 and a 200-day moving average of $200.55. WEX Inc. has a 52 week low of $161.95 and a 52 week high of $244.04. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03.

WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.09. WEX had a net margin of 9.32% and a return on equity of 31.05%. The firm had revenue of $673.50 million during the quarter, compared to analysts’ expectations of $677.44 million. As a group, equities research analysts anticipate that WEX Inc. will post 13.75 earnings per share for the current fiscal year.

Insider Buying and Selling at WEX

In other news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the sale, the insider now owns 5,584 shares in the company, valued at approximately $964,524.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Ann Elena Drew sold 1,182 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the sale, the insider now owns 5,584 shares in the company, valued at $964,524.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Melanie J. Tinto sold 1,564 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the sale, the insider now directly owns 8,461 shares in the company, valued at approximately $1,565,623.44. The disclosure for this sale can be found here. Insiders have sold 5,477 shares of company stock worth $993,307 over the last three months. Company insiders own 1.10% of the company’s stock.

About WEX

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.