Thompson Siegel & Walmsley LLC Lowers Position in WEX Inc. (NYSE:WEX)

Thompson Siegel & Walmsley LLC reduced its stake in WEX Inc. (NYSE:WEX) by 17.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,503 shares of the business services provider’s stock after selling 11,433 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in WEX were worth $11,641,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of WEX. Rice Hall James & Associates LLC grew its stake in shares of WEX by 672.7% in the third quarter. Rice Hall James & Associates LLC now owns 154,033 shares of the business services provider’s stock valued at $32,305,000 after buying an additional 134,099 shares in the last quarter. Dimensional Fund Advisors LP raised its position in WEX by 34.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock valued at $87,772,000 after purchasing an additional 126,663 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of WEX by 328.6% during the third quarter. New York State Common Retirement Fund now owns 127,570 shares of the business services provider’s stock worth $26,755,000 after buying an additional 97,807 shares in the last quarter. Distillate Capital Partners LLC purchased a new stake in shares of WEX during the second quarter worth approximately $13,950,000. Finally, HM Payson & Co. boosted its stake in WEX by 61.3% in the third quarter. HM Payson & Co. now owns 149,341 shares of the business services provider’s stock valued at $31,321,000 after acquiring an additional 56,775 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Insider Activity at WEX

In related news, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. The trade was a 6.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

WEX Price Performance

Shares of NYSE:WEX opened at $181.71 on Friday. The business has a fifty day simple moving average of $196.51 and a 200-day simple moving average of $188.33. WEX Inc. has a 52 week low of $165.51 and a 52 week high of $244.04. The company has a market cap of $7.23 billion, a P/E ratio of 23.06, a P/E/G ratio of 1.41 and a beta of 1.57. 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 (NYSE:WEX) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $3.82 by $0.53. The business had revenue of $665.50 million for 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 company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.44 EPS. Equities research analysts forecast that WEX Inc. will post 13.1 EPS for the current year.

Wall Street Analysts Forecast Growth

WEX has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Robert W. Baird cut their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Finally, William Blair upgraded WEX to a “strong-buy” rating in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.91.

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.