New South Capital Management Inc. Sells 1,605 Shares of WEX Inc. (NYSE:WEX)

New South Capital Management Inc. lowered its position in WEX Inc. (NYSE:WEX) by 2.8% during the third quarter, Holdings Channel reports. The firm owned 55,459 shares of the business services provider’s stock after selling 1,605 shares during the period. New South Capital Management Inc.’s holdings in WEX were worth $11,631,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. lifted its position in shares of WEX by 0.7% in the 2nd quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock worth $1,847,000 after purchasing an additional 68 shares during the period. Ballentine Partners LLC lifted its position in shares of WEX by 3.3% in the 2nd quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock worth $396,000 after purchasing an additional 72 shares during the period. GAMMA Investing LLC lifted its position in shares of WEX by 40.7% in the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after purchasing an additional 87 shares during the period. Covestor Ltd lifted its position in shares of WEX by 47.3% in the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after purchasing an additional 89 shares during the period. Finally, Cozad Asset Management Inc. lifted its position in shares of WEX by 2.1% in the 1st quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider’s stock worth $1,148,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Robert W. Baird dropped their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Bank of America boosted their target price on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Six equities research 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.91.

Insider Buying and Selling at WEX

In other WEX news, COO Robert Joseph Deshaies sold 1,651 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the sale, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at $1,409,214.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Robert Joseph Deshaies sold 1,651 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the sale, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

WEX Stock Performance

WEX traded up $2.02 during trading on Tuesday, hitting $185.01. 6,688 shares of the company traded hands, compared to its average volume of 358,600. The firm has a market cap of $7.36 billion, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 1.45 and a beta of 1.57. The stock’s fifty day moving average is $197.92 and its 200 day moving average is $189.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX Inc. has a one year low of $165.51 and a one year high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.53. The company had revenue of $665.50 million during the quarter, compared to analyst estimates of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.44 earnings per share. As a group, equities analysts predict that WEX Inc. will post 13.2 EPS for the current fiscal year.

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.