Cozad Asset Management Inc. Trims Position in WEX Inc. (NYSE:WEX)

Cozad Asset Management Inc. lessened its stake in WEX Inc. (NYSE:WEX - Free Report) by 58.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,021 shares of the business services provider's stock after selling 2,810 shares during the quarter. Cozad Asset Management Inc.'s holdings in WEX were worth $358,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CWM LLC grew its holdings in shares of WEX by 15.6% in the fourth quarter. CWM LLC now owns 377 shares of the business services provider's stock worth $73,000 after purchasing an additional 51 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of WEX by 4.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,733 shares of the business services provider's stock worth $337,000 after purchasing an additional 72 shares during the last quarter. Rise Advisors LLC purchased a new stake in WEX in the first quarter worth about $29,000. Wisconsin Capital Management LLC lifted its stake in WEX by 0.4% in the second quarter. Wisconsin Capital Management LLC now owns 29,272 shares of the business services provider's stock worth $5,185,000 after acquiring an additional 127 shares during the period. Finally, Covestor Ltd lifted its stake in WEX by 233.9% in the first quarter. Covestor Ltd now owns 187 shares of the business services provider's stock worth $44,000 after acquiring an additional 131 shares during the period. Hedge funds and other institutional investors own 97.47% of the company's stock.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 540 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the transaction, the chief financial officer now owns 8,168 shares in the company, valued at approximately $1,470,240. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Jagtar Narula sold 540 shares of the firm's stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00. Following the sale, the chief financial officer now owns 8,168 shares of the company's stock, valued at approximately $1,470,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert Joseph Deshaies sold 1,651 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 in the company, valued at approximately $1,409,214.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,477 shares of company stock worth $993,307. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on WEX. Keefe, Bruyette & Woods lowered their price objective on shares of WEX from $275.00 to $230.00 and set an "outperform" rating for the company in a research note on Monday, July 8th. William Blair raised shares of WEX to a "strong-buy" rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lowered their price objective on shares of WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company lowered their price objective on shares of WEX from $200.00 to $190.00 and set an "equal weight" rating for the company 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, WEX presently has a consensus rating of "Moderate Buy" and an average price target of $239.58.

WEX Stock Down 0.4 %

Shares of WEX traded down $0.68 during mid-day trading on Thursday, hitting $187.63. 326,745 shares of the company traded hands, compared to its average volume of 333,492. WEX Inc. has a 1-year low of $161.95 and a 1-year high of $244.04. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $7.86 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 1.14 and a beta of 1.54. The business has a 50 day moving average of $181.05 and a 200 day moving average of $200.93.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $677.44 million. Equities research analysts anticipate that WEX Inc. will post 13.75 EPS for the current year.

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.