Jacobs Levy Equity Management Inc. Increases Stake in WEX Inc. (NYSE:WEX)

Jacobs Levy Equity Management Inc. increased its holdings in WEX Inc. (NYSE:WEX) by 0.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,186 shares of the business services provider’s stock after purchasing an additional 154 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in WEX were worth $7,883,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of WEX by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after purchasing an additional 179,813 shares in the last quarter. Kodai Capital Management LP bought a new stake in WEX during the 4th quarter valued at $49,750,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in WEX during the 4th quarter valued at $3,617,000. International Assets Investment Management LLC raised its holdings in WEX by 19,044.7% during the 4th quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock valued at $7,002,000 after buying an additional 35,804 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in WEX by 2.7% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock valued at $177,076,000 after buying an additional 22,865 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Insider Activity

In other news, CFO Jagtar Narula sold 540 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is accessible through this hyperlink. In other 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Sara Trickett sold 734 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total transaction of $154,455.62. The disclosure for this sale can be found here. Insiders have sold a total of 4,911 shares of company stock valued at $1,008,402 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

WEX has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of WEX from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, April 12th. Robert W. Baird upped their price target on shares of WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a report on Monday, April 15th. William Blair upgraded shares of WEX to a “strong-buy” rating in a report on Friday. Citigroup upped their price objective on shares of WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, July 8th. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $240.42.

WEX Stock Performance

Shares of NYSE WEX traded down $2.45 during trading on Tuesday, reaching $184.18. 375,696 shares of the company traded hands, compared to its average volume of 337,122. The firm has a 50 day simple moving average of $180.22 and a 200-day simple moving average of $205.67. 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 stock has a market capitalization of $7.57 billion, a PE ratio of 29.95, a P/E/G ratio of 1.06 and a beta of 1.55. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04.

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.