WEX Inc. (NYSE:WEX) Shares Purchased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC boosted its holdings in shares of WEX Inc. (NYSE:WEX) by 17.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 288,527 shares of the business services provider’s stock after purchasing an additional 42,700 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.68% of WEX worth $56,133,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in shares of WEX by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,083 shares of the business services provider’s stock valued at $63,829,000 after buying an additional 6,506 shares during the last quarter. Los Angeles Capital Management LLC raised 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 worth $337,000 after acquiring an additional 72 shares during the period. Fisher Asset Management LLC boosted its position in shares of WEX by 3.6% during the 4th quarter. Fisher Asset Management LLC now owns 17,142 shares of the business services provider’s stock valued at $3,335,000 after acquiring an additional 597 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in WEX by 12.3% during the fourth quarter. First Trust Direct Indexing L.P. now owns 1,225 shares of the business services provider’s stock worth $238,000 after purchasing an additional 134 shares during the period. Finally, New York Life Investment Management LLC boosted its holdings in WEX by 7.8% in the 4th quarter. New York Life Investment Management LLC now owns 4,898 shares of the business services provider’s stock valued at $953,000 after purchasing an additional 355 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on WEX shares. Evercore ISI lifted their price target on shares of WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Truist Financial boosted their target price on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Citigroup lifted their price objective on WEX from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. raised their target price on WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, StockNews.com lowered shares of WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $240.00.

WEX Stock Down 0.8 %

Shares of NYSE:WEX traded down $1.59 during trading on Thursday, hitting $208.41. 289,446 shares of the company were exchanged, compared to its average volume of 306,811. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s 50 day moving average price is $229.15 and its 200-day moving average price is $205.04. The stock has a market capitalization of $8.73 billion, a P/E ratio of 34.15, a PEG ratio of 1.21 and a beta of 1.60. WEX Inc. has a 12-month low of $161.95 and a 12-month high of $244.04.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a net margin of 10.21% and a return on equity of 30.92%. The company had revenue of $663.30 million during the quarter, compared to analyst estimates of $656.75 million. On average, research analysts predict that WEX Inc. will post 13.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Robert Joseph Deshaies sold 1,897 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $211.01, for a total transaction of $400,285.97. Following the completion of the sale, the chief operating officer now owns 9,408 shares in the company, valued at approximately $1,985,182.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Robert Joseph Deshaies sold 1,897 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $211.01, for a total transaction of $400,285.97. Following the transaction, the chief operating officer now directly owns 9,408 shares in the company, valued at $1,985,182.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jennifer Kimball sold 1,200 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total value of $253,860.00. Following the transaction, the chief accounting officer now directly owns 1,909 shares of the company’s stock, valued at $403,848.95. The disclosure for this sale can be found here. Insiders have sold 32,157 shares of company stock worth $7,090,562 in the last quarter. 1.10% of the stock is 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.