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

New South Capital Management Inc. trimmed its position in shares of WEX Inc. (NYSE:WEX) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,459 shares of the business services provider’s stock after selling 1,605 shares during the quarter. New South Capital Management Inc. owned approximately 0.14% of WEX worth $11,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its position in shares of WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after purchasing an additional 101 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of WEX during the second quarter worth approximately $33,000. Quarry LP lifted its position in shares of WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after purchasing an additional 165 shares in the last quarter. Blue Trust Inc. lifted its position in shares of WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after purchasing an additional 187 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after purchasing an additional 131 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

Insider Buying and Selling at WEX

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

Shares of NYSE WEX traded up $2.02 during mid-day trading on Tuesday, reaching $185.01. 6,688 shares of the company were exchanged, compared to its average volume of 358,600. The company’s 50-day simple moving average is $197.92 and its 200-day simple 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. The stock has a market capitalization of $7.36 billion, a P/E ratio of 23.22, a P/E/G ratio of 1.45 and a beta of 1.57. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04.

WEX (NYSE:WEX) last issued 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. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $688.03 million. During the same quarter in the previous year, the company earned $3.44 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, research analysts predict that WEX Inc. will post 13.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WEX shares. Wolfe Research lowered shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. William Blair upgraded shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. Jefferies Financial Group increased their price objective on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Bank of America increased their price objective on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. decreased their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Six equities research 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, WEX currently has an average rating of “Moderate Buy” and an average 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.