TimesSquare Capital Management LLC Sells 11,008 Shares of WEX Inc. (NYSE:WEX)

TimesSquare Capital Management LLC cut its holdings in shares of WEX Inc. (NYSE:WEX) by 3.8% during the 3rd quarter, Holdings Channel reports. The firm owned 276,412 shares of the business services provider’s stock after selling 11,008 shares during the period. TimesSquare Capital Management LLC’s holdings in WEX were worth $57,972,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WEX. International Assets Investment Management LLC bought a new position in WEX during the 2nd quarter worth $33,000. Quarry LP increased its position in shares of WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after purchasing an additional 165 shares during the period. Blue Trust Inc. raised its stake 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 purchasing an additional 187 shares in the last quarter. Covestor Ltd lifted its position in WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after purchasing an additional 131 shares during the period. Finally, GAMMA Investing LLC grew its stake in WEX by 40.7% during the third quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after buying an additional 87 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other WEX news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the sale, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Jagtar Narula sold 508 shares of the business’s 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 transaction, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert Joseph Deshaies sold 1,651 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at approximately $1,409,214.19. This represents a 0.00 % 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 insiders.

WEX Stock Performance

Shares of WEX stock opened at $184.06 on Friday. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 1.45 and a beta of 1.57. 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 business’s 50-day moving average price is $198.08 and its 200-day moving average price is $190.33. WEX Inc. has a 12 month low of $165.51 and a 12 month high of $244.04.

WEX (NYSE:WEX) last posted its earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. During the same period last year, the company earned $3.44 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts forecast that WEX Inc. will post 13.2 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on WEX. William Blair upgraded shares of WEX to a “strong-buy” rating in a research report on Friday, July 26th. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Robert W. Baird reduced 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. Wells Fargo & Company decreased their price target on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Finally, Jefferies Financial Group upped their price objective on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock 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.