Distillate Capital Partners LLC Acquires Shares of 78,750 WEX Inc. (NYSE:WEX)

Distillate Capital Partners LLC purchased a new stake in WEX Inc. (NYSE:WEX) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 78,750 shares of the business services provider’s stock, valued at approximately $13,950,000.

A number of other institutional investors have also recently made changes to their positions in WEX. Kodai Capital Management LP purchased a new stake in WEX during the 4th quarter valued at about $49,750,000. Wellington Management Group LLP raised its stake in WEX by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after purchasing an additional 179,813 shares during the period. Dimensional Fund Advisors LP boosted its holdings 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 during the last quarter. Vanguard Group Inc. boosted its holdings in WEX by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock valued at $816,919,000 after purchasing an additional 67,893 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in shares of WEX by 1,610.6% in the 1st quarter. Vident Advisory LLC now owns 58,264 shares of the business services provider’s stock valued at $13,839,000 after buying an additional 54,858 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on WEX shares. JPMorgan Chase & Co. reduced their price target 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. Keefe, Bruyette & Woods lowered their price target on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Wells Fargo & Company reduced their price objective on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Finally, William Blair raised shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $239.58.

Insider Buying and Selling at WEX

In related news, CFO Jagtar Narula sold 508 shares of WEX 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 completion of the transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other WEX news, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert Joseph Deshaies sold 1,651 shares of WEX stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the sale, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. The disclosure for this sale can be found here. In the last three months, insiders sold 5,985 shares of company stock worth $1,094,907. 1.10% of the stock is owned by corporate insiders.

WEX Trading Up 0.4 %

Shares of WEX opened at $208.02 on Tuesday. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $8.72 billion, a P/E ratio of 33.82, a PEG ratio of 1.19 and a beta of 1.54. The firm’s 50-day moving average is $185.75 and its two-hundred day moving average is $198.67.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.09. The firm had revenue of $673.50 million during the quarter, compared to the consensus estimate of $677.44 million. WEX had a return on equity of 31.05% and a net margin of 9.32%. On average, research analysts predict that WEX Inc. will post 13.75 earnings per share 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.