WEX Inc. (NYSE:WEX) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its holdings in WEX Inc. (NYSE:WEX - Free Report) by 3.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 276,412 shares of the business services provider's stock after selling 11,008 shares during the quarter. TimesSquare Capital Management LLC owned 0.69% of WEX worth $57,972,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Rice Hall James & Associates LLC grew its holdings in WEX by 672.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 154,033 shares of the business services provider's stock valued at $32,305,000 after purchasing an additional 134,099 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of WEX by 34.3% in the second quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider's stock worth $87,772,000 after buying an additional 126,663 shares during the period. New York State Common Retirement Fund lifted its stake in shares of WEX by 328.6% during the 3rd quarter. New York State Common Retirement Fund now owns 127,570 shares of the business services provider's stock worth $26,755,000 after acquiring an additional 97,807 shares during the last quarter. Distillate Capital Partners LLC bought a new position in WEX in the 2nd quarter valued at $13,950,000. Finally, HM Payson & Co. increased its stake in WEX by 61.3% in the third quarter. HM Payson & Co. now owns 149,341 shares of the business services provider's stock worth $31,321,000 after purchasing an additional 56,775 shares during the period. Institutional investors own 97.47% of the company's stock.

Insider Transactions at WEX

In related news, CFO Jagtar Narula sold 508 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 7,120 shares of the company's stock, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Jagtar Narula sold 508 shares of WEX 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Robert Joseph Deshaies sold 1,651 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value of $299,937.17. Following the transaction, the chief operating officer now directly owns 7,757 shares of the company's stock, valued at $1,409,214.19. 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

WEX traded up $0.16 on Friday, reaching $184.06. The stock had a trading volume of 295,976 shares, compared to its average volume of 536,655. The business's 50-day moving average price is $198.08 and its two-hundred day moving average price is $190.03. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX Inc. has a 12-month low of $165.51 and a 12-month high of $244.04. The company has a market cap of $7.32 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 1.45 and a beta of 1.57.

WEX (NYSE:WEX - Get Free Report) last announced its earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.82 by $0.53. The firm had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The business's revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.44 EPS. Sell-side analysts forecast that WEX Inc. will post 13.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

WEX has been the topic of several research reports. JPMorgan Chase & Co. reduced their price objective on WEX from $210.00 to $200.00 and set a "neutral" rating on the stock in a report on Tuesday, August 20th. Jefferies Financial Group increased their target price on shares of WEX from $190.00 to $210.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. William Blair upgraded shares of WEX to a "strong-buy" rating in a report on Friday, July 26th. Bank of America increased their price objective on shares of WEX from $238.00 to $255.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird lowered their target price on WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, WEX has an average rating of "Moderate Buy" and a consensus 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.