Moody Aldrich Partners LLC Makes New $295,000 Investment in WEX Inc (NYSE:WEX)

Moody Aldrich Partners LLC acquired a new stake in shares of WEX Inc (NYSE:WEX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,789 shares of the business services provider’s stock, valued at approximately $295,000.

Several other large investors have also recently modified their holdings of the company. Synovus Financial Corp acquired a new stake in WEX in the 1st quarter valued at $25,000. Toth Financial Advisory Corp acquired a new position in shares of WEX during the first quarter valued at about $28,000. Citizens Financial Group Inc RI increased its position in shares of WEX by 334.4% during the first quarter. Citizens Financial Group Inc RI now owns 265 shares of the business services provider’s stock worth $28,000 after acquiring an additional 204 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of WEX by 124.0% in the 1st quarter. Flagship Harbor Advisors LLC now owns 271 shares of the business services provider’s stock worth $28,000 after acquiring an additional 150 shares during the last quarter. Finally, Signaturefd LLC lifted its position in WEX by 54.1% in the 1st quarter. Signaturefd LLC now owns 282 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 99 shares in the last quarter. 99.94% of the stock is currently owned by institutional investors.

In related news, insider Joel Alan Dearborn, Jr. sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $154.00, for a total value of $300,300.00. Following the completion of the transaction, the insider now directly owns 3,439 shares of the company’s stock, valued at approximately $529,606. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Roberto Simon sold 9,251 shares of WEX stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $118.70, for a total transaction of $1,098,093.70. Following the completion of the transaction, the chief financial officer now owns 10,878 shares of the company’s stock, valued at $1,291,218.60. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

Several analysts have recently commented on WEX shares. Deutsche Bank increased their price objective on WEX from $150.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. BTIG Research lowered their price target on WEX from $255.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Susquehanna Bancshares initiated coverage on shares of WEX in a report on Wednesday, July 15th. They set a “positive” rating and a $210.00 price objective on the stock. Morgan Stanley increased their target price on shares of WEX from $160.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Finally, Goldman Sachs Group began coverage on shares of WEX in a report on Tuesday, July 14th. They set a “neutral” rating and a $164.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $200.93.

Shares of NYSE:WEX traded down $1.66 during mid-day trading on Friday, reaching $158.37. The company had a trading volume of 411,689 shares, compared to its average volume of 405,777. WEX Inc has a one year low of $71.12 and a one year high of $236.51. The company has a current ratio of 1.38, a quick ratio of 1.33 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average price is $161.50 and its 200-day moving average price is $160.19. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 55.37, a PEG ratio of 1.66 and a beta of 1.93.

WEX (NYSE:WEX) last issued its earnings results on Thursday, July 30th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.03). WEX had a net margin of 7.47% and a return on equity of 16.87%. The firm had revenue of $347.08 million during the quarter, compared to the consensus estimate of $353.05 million. On average, research analysts anticipate that WEX Inc will post 6.36 EPS for the current fiscal year.

WEX 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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