4,923 Shares in WEX Inc. $WEX Purchased by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. purchased a new stake in WEX Inc. (NYSE:WEX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,923 shares of the business services provider’s stock, valued at approximately $831,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of WEX during the 3rd quarter worth approximately $224,000. Heritage Family Offices LLP purchased a new position in shares of WEX in the 3rd quarter valued at $43,000. Covestor Ltd grew its position in shares of WEX by 97.8% in the 3rd quarter. Covestor Ltd now owns 267 shares of the business services provider’s stock valued at $45,000 after buying an additional 132 shares during the last quarter. ProShare Advisors LLC acquired a new stake in WEX during the 3rd quarter worth $205,000. Finally, State of Wyoming raised its stake in WEX by 42.2% during the 3rd quarter. State of Wyoming now owns 1,318 shares of the business services provider’s stock worth $222,000 after acquiring an additional 391 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Insider Buying and Selling at WEX

In related news, CTO Sachin Dhawan sold 3,873 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $183.05, for a total transaction of $708,952.65. Following the transaction, the chief technology officer owned 11,286 shares of the company’s stock, valued at $2,065,902.30. This trade represents a 25.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Joel Dearborn, Jr. sold 3,343 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $200.00, for a total value of $668,600.00. Following the completion of the transaction, the chief operating officer owned 17,021 shares in the company, valued at $3,404,200. This trade represents a 16.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,325 shares of company stock worth $7,067,912 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WEX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of WEX in a research note on Thursday, September 24th. Cantor Fitzgerald lifted their target price on WEX from $178.00 to $189.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Evercore upgraded WEX to an “outperform” rating in a research report on Tuesday, July 21st. Wall Street Zen raised WEX from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Morgan Stanley upped their target price on WEX from $172.00 to $178.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $191.10.

WEX Stock Up 0.2%

WEX stock opened at $182.58 on Monday. The company has a fifty day moving average price of $184.33 and a 200 day moving average price of $165.15. WEX Inc. has a 12 month low of $125.29 and a 12 month high of $203.99. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 0.72 and a beta of 0.93. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.03 and a quick ratio of 1.03.

WEX (NYSE:WEX) last issued its quarterly earnings data on Wednesday, October 28th. The business services provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.68 by $0.45. The company had revenue of $780.10 million for the quarter, compared to the consensus estimate of $749.74 million. WEX had a net margin of 14.05% and a return on equity of 45.74%. WEX’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the firm posted $4.59 EPS. Sell-side analysts expect that WEX Inc. will post 18.19 earnings per share for the current year.

About WEX

WEX Inc is a financial technology company that provides payment processing and business management solutions. Founded in 1983 as Wright Express, the company adopted the WEX name in 2012 and is headquartered in Portland, Maine.

WEX’s fleet business offers payment cards and related services for commercial and government fleets, including tools to manage fuel purchases, vehicle expenses and fleet operations. Its travel and corporate payments business provides solutions such as virtual cards and payment services for travel companies and other businesses.

WEX also provides employee benefits administration, including platforms and services for health savings accounts, flexible spending accounts, commuter benefits and COBRA administration.