Clark Asset Management LLC Takes Position in WEX Inc. $WEX

Clark Asset Management LLC bought a new stake in WEX Inc. (NYSE:WEX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,265 shares of the business services provider’s stock, valued at approximately $480,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of WEX by 282.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 214 shares of the business services provider’s stock worth $31,000 after purchasing an additional 158 shares during the period. Quarry LP acquired a new stake in shares of WEX during the first quarter worth $44,000. SVB Wealth LLC acquired a new stake in shares of WEX during the first quarter worth $49,000. UMB Bank n.a. grew its stake in shares of WEX by 22.1% during the second quarter. UMB Bank n.a. now owns 376 shares of the business services provider’s stock worth $55,000 after purchasing an additional 68 shares during the period. Finally, Brooklyn Investment Group grew its stake in shares of WEX by 50.7% during the first quarter. Brooklyn Investment Group now owns 422 shares of the business services provider’s stock worth $66,000 after purchasing an additional 142 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on WEX in a research note on Thursday, July 17th. They set a “hold” rating and a $150.00 price objective for the company. UBS Group lifted their price objective on WEX from $138.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Zacks Research cut WEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Bank of America raised WEX from a “neutral” rating to a “buy” rating and set a $178.00 price objective for the company in a research note on Wednesday, October 22nd. Finally, William Blair reissued a “market perform” rating on shares of WEX in a research note on Friday, July 25th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $173.91.

Insider Transactions at WEX

In other news, insider Ann Elena Drew sold 1,931 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $171.69, for a total value of $331,533.39. Following the sale, the insider directly owned 7,295 shares in the company, valued at $1,252,478.55. The trade was a 20.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Carlos Carriedo sold 875 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $171.68, for a total value of $150,220.00. Following the completion of the sale, the chief operating officer owned 5,270 shares in the company, valued at approximately $904,753.60. This trade represents a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

WEX Stock Up 0.6%

NYSE:WEX opened at $160.84 on Tuesday. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $191.43. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 1.39 and a beta of 1.26. The stock has a 50-day moving average price of $163.50 and a two-hundred day moving average price of $151.31.

WEX Company 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.