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

Thompson Siegel & Walmsley LLC grew its stake in WEX Inc. (NYSE:WEX) by 27.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,936 shares of the business services provider’s stock after purchasing an additional 14,444 shares during the period. Thompson Siegel & Walmsley LLC owned approximately 0.16% of WEX worth $11,857,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Retirement Planning Co of New England Inc. increased its stake in WEX by 8.9% during the second quarter. Retirement Planning Co of New England Inc. now owns 1,671 shares of the business services provider’s stock worth $296,000 after acquiring an additional 136 shares during the last quarter. Envestnet Asset Management Inc. increased its position in WEX by 1.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 50,370 shares of the business services provider’s stock valued at $8,922,000 after acquiring an additional 603 shares during the period. Federated Hermes Inc. increased its position in WEX by 3.0% in the 2nd quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider’s stock valued at $71,275,000 after acquiring an additional 11,821 shares during the period. Qsemble Capital Management LP acquired a new position in shares of WEX during the 2nd quarter valued at $718,000. Finally, American Century Companies Inc. increased its position in shares of WEX by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock valued at $1,847,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Performance

WEX opened at $198.71 on Monday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50 day simple moving average of $182.92 and a two-hundred day simple moving average of $199.47. WEX Inc. has a 1-year low of $161.95 and a 1-year high of $244.04. The firm has a market cap of $8.16 billion, a P/E ratio of 32.31, a PEG ratio of 1.15 and a beta of 1.54.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating 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 company had revenue of $673.50 million during the quarter, compared to analyst estimates of $677.44 million. Equities analysts forecast that WEX Inc. will post 13.75 earnings per share for the current fiscal year.

Insider Activity at WEX

In related news, CFO Jagtar Narula sold 540 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $190.00, for a total value of $102,600.00. Following the completion of the sale, the chief financial officer now owns 7,628 shares of the company’s stock, valued at $1,449,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 completion of the sale, the insider now directly owns 5,584 shares of the company’s stock, valued at $964,524.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jagtar Narula sold 540 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $190.00, for a total value of $102,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,628 shares of the company’s stock, valued at approximately $1,449,320. The disclosure for this sale can be found here. Insiders sold a total of 5,477 shares of company stock worth $993,307 in the last three months. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.