Mutual of America Capital Management LLC Has $5.14 Million Stock Position in WEX Inc. (NYSE:WEX)

Mutual of America Capital Management LLC reduced its holdings in WEX Inc. (NYSE:WEX) by 5.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 26,435 shares of the business services provider’s stock after selling 1,512 shares during the quarter. Mutual of America Capital Management LLC’s holdings in WEX were worth $5,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WEX. Schonfeld Strategic Advisors LLC lifted its holdings in WEX by 56.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 141,287 shares of the business services provider’s stock valued at $26,575,000 after buying an additional 50,771 shares during the period. Burney Co. boosted its holdings in shares of WEX by 131.1% during the 3rd quarter. Burney Co. now owns 21,120 shares of the business services provider’s stock worth $3,972,000 after buying an additional 11,983 shares in the last quarter. Deutsche Bank AG increased its stake in shares of WEX by 65.5% in the 3rd quarter. Deutsche Bank AG now owns 54,523 shares of the business services provider’s stock valued at $10,255,000 after acquiring an additional 21,578 shares in the last quarter. Comerica Bank acquired a new position in shares of WEX during the 3rd quarter valued at $6,545,000. Finally, Vanguard Group Inc. boosted its stake in WEX by 2.1% during the third quarter. Vanguard Group Inc. now owns 4,131,124 shares of the business services provider’s stock worth $777,023,000 after acquiring an additional 83,102 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Price Performance

WEX stock opened at $235.88 on Monday. WEX Inc. has a 52 week low of $161.95 and a 52 week high of $244.04. The company’s 50 day moving average price is $226.93 and its two-hundred day moving average price is $201.01. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55. The stock has a market cap of $9.85 billion, a P/E ratio of 38.29, a P/E/G ratio of 1.53 and a beta of 1.59.

WEX (NYSE:WEX) last posted its earnings results on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a return on equity of 31.33% and a net margin of 10.46%. The firm had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. On average, equities analysts predict that WEX Inc. will post 13.51 earnings per share for the current year.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 309 shares of WEX stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total transaction of $72,071.16. Following the transaction, the chief financial officer now owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Melissa D. Smith sold 41,107 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the completion of the sale, the chief executive officer now owns 81,998 shares in the company, valued at approximately $16,809,590. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the sale, the chief financial officer now owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The disclosure for this sale can be found here. Insiders have sold a total of 69,433 shares of company stock valued at $14,708,896 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Barclays increased their price objective on shares of WEX from $240.00 to $255.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Truist Financial increased their price objective on shares of WEX from $185.00 to $220.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. TheStreet raised shares of WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Finally, StockNews.com cut shares of WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, WEX presently has an average rating of “Moderate Buy” and an average price target of $234.23.

WEX 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.