Yousif Capital Management LLC Sells 398 Shares of WEX Inc. (NYSE:WEX)

Yousif Capital Management LLC reduced its stake in WEX Inc. (NYSE:WEX) by 2.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,615 shares of the business services provider’s stock after selling 398 shares during the quarter. Yousif Capital Management LLC’s holdings in WEX were worth $2,138,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new stake in WEX during the 4th quarter worth about $25,000. State of Wyoming bought a new stake in WEX during the 4th quarter worth about $35,000. Jones Financial Companies Lllp lifted its position in WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after buying an additional 129 shares in the last quarter. Quadrant Capital Group LLC lifted its position in WEX by 72.2% during the 4th quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider’s stock worth $48,000 after buying an additional 114 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in WEX by 161.5% during the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider’s stock worth $44,000 after buying an additional 168 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages have commented on WEX. Oppenheimer started coverage on shares of WEX in a research report on Thursday, May 15th. They set a “market perform” rating on the stock. Robert W. Baird set a $186.00 target price on shares of WEX in a report on Tuesday, February 18th. Jefferies Financial Group raised 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. UBS Group reduced their price target on shares of WEX from $172.00 to $138.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Finally, Wells Fargo & Company cut their target price on shares of WEX from $160.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $176.90.

WEX Stock Performance

WEX stock opened at $137.73 on Monday. The firm’s fifty day moving average price is $131.35 and its 200-day moving average price is $154.14. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The stock has a market cap of $4.72 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. WEX Inc. has a fifty-two week low of $110.45 and a fifty-two week high of $217.47.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.11. The company had revenue of $636.60 million for the quarter, compared to analysts’ expectations of $631.42 million. WEX had a net margin of 11.78% and a return on equity of 32.35%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.46 EPS. On average, equities research analysts expect that WEX Inc. will post 14.09 earnings per share for the current fiscal 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.