Quantinno Capital Management LP Buys 2,286 Shares of WEX Inc. (NYSE:WEX)

Quantinno Capital Management LP increased its stake in shares of WEX Inc. (NYSE:WEX) by 19.7% in the 3rd quarter, Holdings Channel reports. The firm owned 13,868 shares of the business services provider’s stock after buying an additional 2,286 shares during the period. Quantinno Capital Management LP’s holdings in WEX were worth $2,909,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its stake in WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after buying an additional 101 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of WEX in the second quarter worth $33,000. Quarry LP increased its position in WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 165 shares during the last quarter. Blue Trust Inc. lifted its holdings in WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 187 shares during the period. Finally, Covestor Ltd boosted its position in WEX by 47.3% in the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Insider Activity at WEX

In other news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction dated 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 owns 7,120 shares in the company, valued at $1,424,000. This trade represents a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert Joseph Deshaies sold 175 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the completion of the sale, the chief operating officer now owns 7,582 shares in the company, valued at $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

WEX Stock Performance

NYSE WEX opened at $183.04 on Tuesday. 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 Inc. has a twelve month low of $165.51 and a twelve month high of $244.04. The business has a 50-day moving average price of $191.72 and a 200-day moving average price of $186.75. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.57.

WEX (NYSE:WEX) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.44 EPS. As a group, equities research analysts predict that WEX Inc. will post 13.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on WEX. JPMorgan Chase & Co. lowered their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Bank of America increased their price target 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. Wells Fargo & Company cut their price objective on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Robert W. Baird decreased their target price on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Jefferies Financial Group lifted their target price on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. 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 stock. Based on data from MarketBeat.com, WEX presently has an average rating of “Moderate Buy” and a consensus price target of $235.91.

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.