Westfield Capital Management Co. LP Has $30.43 Million Stock Holdings in WEX Inc. (NYSE:WEX)

Westfield Capital Management Co. LP lessened its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 38.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 145,094 shares of the business services provider's stock after selling 92,215 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.36% of WEX worth $30,431,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

WEX has been the topic of a number of research reports. Wolfe Research lowered shares of WEX from an "outperform" rating to a "peer perform" rating in a research note on Monday, October 28th. Bank of America upped their target price on WEX from $238.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Jefferies Financial Group lifted their price target on WEX from $190.00 to $210.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. decreased 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. Finally, Robert W. Baird dropped 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 equities research 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. According to MarketBeat, WEX has an average rating of "Moderate Buy" and a consensus target price of $235.91.

WEX Price Performance

WEX stock traded up $2.77 during mid-day trading on Monday, hitting $188.15. The stock had a trading volume of 445,596 shares, compared to its average volume of 360,986. The firm has a fifty day simple moving average of $196.01 and a 200 day simple moving average of $187.80. WEX Inc. has a 52 week low of $165.51 and a 52 week high of $244.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $7.48 billion, a P/E ratio of 23.88, a P/E/G ratio of 1.47 and a beta of 1.57.

WEX (NYSE:WEX - Get Free Report) last released its 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. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm had revenue of $665.50 million during the quarter, compared to analysts' expectations of $688.03 million. During the same period in the prior year, the company earned $3.44 earnings per share. The company's quarterly revenue was up 2.2% on a year-over-year basis. As a group, research analysts forecast that WEX Inc. will post 13.1 EPS for the current year.

Insider Activity at WEX

In related news, CFO Jagtar Narula sold 508 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were 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 owns 7,120 shares of the company's stock, valued at $1,424,000. This represents a 6.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

About WEX

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.