Mutual of America Capital Management LLC Decreases Stock Position in WEX Inc. (NYSE:WEX)

Mutual of America Capital Management LLC cut its position in WEX Inc. (NYSE:WEX) by 14.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 17,928 shares of the business services provider’s stock after selling 3,087 shares during the quarter. Mutual of America Capital Management LLC’s holdings in WEX were worth $2,815,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WEX. HighTower Advisors LLC boosted its stake in WEX by 2.8% during the 4th quarter. HighTower Advisors LLC now owns 6,619 shares of the business services provider’s stock valued at $1,160,000 after acquiring an additional 183 shares during the last quarter. Xponance Inc. boosted its stake in WEX by 1.4% during the 4th quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock valued at $853,000 after acquiring an additional 68 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in WEX by 120.4% during the 4th quarter. Teacher Retirement System of Texas now owns 8,688 shares of the business services provider’s stock valued at $1,523,000 after acquiring an additional 4,746 shares during the last quarter. Magnetar Financial LLC bought a new position in WEX during the 4th quarter valued at $3,315,000. Finally, Blueshift Asset Management LLC bought a new position in WEX during the 4th quarter valued at $255,000. 97.47% of the stock is currently owned by institutional investors.

Insider Transactions at WEX

In other news, CEO Melissa D. Smith acquired 3,721 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were acquired at an average price of $134.57 per share, with a total value of $500,734.97. Following the acquisition, the chief executive officer directly owned 101,182 shares in the company, valued at approximately $13,616,061.74. The trade was a 3.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer Kimball sold 1,400 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $131.08, for a total transaction of $183,512.00. Following the transaction, the chief accounting officer directly owned 3,177 shares in the company, valued at approximately $416,441.16. The trade was a 30.59% decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WEX has been the topic of a number of research analyst reports. UBS Group reduced their price objective on shares of WEX from $172.00 to $138.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of WEX in a report on Thursday. They set a “hold” rating and a $150.00 target price on the stock. Oppenheimer began coverage on shares of WEX in a report on Thursday, May 15th. They set a “market perform” rating on the stock. Wells Fargo & Company dropped their target price on shares of WEX from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, Jefferies Financial Group increased their target price on shares of WEX from $130.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, May 27th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, WEX has an average rating of “Hold” and an average target price of $174.45.

WEX Stock Down 0.1%

WEX stock opened at $153.38 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.06. WEX Inc. has a fifty-two week low of $110.45 and a fifty-two week high of $217.47. The firm’s 50-day simple moving average is $142.48 and its 200 day simple moving average is $149.46. The stock has a market cap of $5.25 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 3.00 and a beta of 1.23.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.11. WEX had a net margin of 12.07% and a return on equity of 37.90%. The business had revenue of $636.60 million for the quarter, compared to analysts’ expectations of $631.42 million. During the same quarter last year, the company earned $3.46 EPS. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that WEX Inc. will post 14.09 EPS for the current year.

About WEX

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.