Tiverton Asset Management LLC lessened its position in WEX Inc (NYSE:WEX) by 17.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,711 shares of the business services provider’s stock after selling 351 shares during the quarter. Tiverton Asset Management LLC’s holdings in WEX were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. World Asset Management Inc lifted its position in WEX by 2.0% in the 2nd quarter. World Asset Management Inc now owns 2,464 shares of the business services provider’s stock worth $513,000 after buying an additional 49 shares during the last quarter. Atlantic Trust LLC grew its position in WEX by 40.8% during the second quarter. Atlantic Trust LLC now owns 169 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 49 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of WEX by 20.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 302 shares of the business services provider’s stock worth $58,000 after acquiring an additional 52 shares in the last quarter. Zions Bancorporation N.A. raised its stake in shares of WEX by 2.8% during the first quarter. Zions Bancorporation N.A. now owns 1,953 shares of the business services provider’s stock worth $375,000 after acquiring an additional 54 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of WEX by 4.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,520 shares of the business services provider’s stock worth $316,000 after acquiring an additional 60 shares during the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Melissa D. Smith sold 15,556 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $209.99, for a total value of $3,266,604.44. Following the completion of the sale, the chief executive officer now directly owns 78,839 shares of the company’s stock, valued at approximately $16,555,401.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott Robert Phillips sold 15,973 shares of WEX stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $208.44, for a total transaction of $3,329,412.12. Following the sale, the insider now directly owns 9,850 shares in the company, valued at approximately $2,053,134. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Shares of NYSE WEX traded up $0.83 during trading hours on Wednesday, hitting $204.82. The company’s stock had a trading volume of 3,346 shares, compared to its average volume of 210,357. WEX Inc has a 12 month low of $131.35 and a 12 month high of $221.66. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 1.68 and a beta of 1.56. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.42 and a current ratio of 1.42. The business has a 50-day simple moving average of $205.01 and a 200-day simple moving average of $199.99.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.20. The business had revenue of $441.81 million during the quarter, compared to analysts’ expectations of $440.49 million. WEX had a return on equity of 17.88% and a net margin of 6.84%. The business’s revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the business posted $2.07 EPS. On average, equities research analysts forecast that WEX Inc will post 8.33 EPS for the current year.

WEX has been the subject of a number of research reports. TheStreet cut shares of WEX from a “b” rating to a “c+” rating in a research note on Monday, August 5th. Jefferies Financial Group raised their price objective on WEX from $210.00 to $230.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Barclays decreased their price objective on WEX from $260.00 to $253.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. ValuEngine downgraded WEX from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Citigroup boosted their target price on WEX from $235.00 to $260.00 and gave the company a “buy” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $223.00.

WEX Company Profile

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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