Truvestments Capital LLC Buys 271 Shares of WEX Inc. (NYSE:WEX)

Truvestments Capital LLC lifted its stake in shares of WEX Inc. (NYSE:WEX) by 17.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,819 shares of the business services provider’s stock after buying an additional 271 shares during the quarter. Truvestments Capital LLC’s holdings in WEX were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of WEX in the 4th quarter worth approximately $27,000. Rise Advisors LLC bought a new position in shares of WEX during the first quarter valued at $29,000. Principal Securities Inc. bought a new stake in shares of WEX in the 4th quarter worth $31,000. Covestor Ltd raised its stake in shares of WEX by 233.9% in the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after purchasing an additional 131 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of WEX during the first quarter valued at $60,000. 97.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 540 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $190.00, for a total transaction of $102,600.00. Following the completion of the transaction, the chief financial officer now owns 7,628 shares in the company, valued at $1,449,320. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Jennifer Kimball sold 1,200 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total transaction of $253,860.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,909 shares in the company, valued at approximately $403,848.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $190.00, for a total transaction of $102,600.00. Following the completion of the sale, the chief financial officer now owns 7,628 shares in the company, valued at approximately $1,449,320. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,911 shares of company stock worth $1,008,402. 1.10% of the stock is owned by corporate insiders.

WEX Price Performance

Shares of NYSE WEX traded up $8.31 during midday trading on Friday, reaching $180.44. The stock had a trading volume of 533,702 shares, compared to its average volume of 419,356. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.06 and a current ratio of 1.03. WEX Inc. has a 12-month low of $161.95 and a 12-month high of $244.04. The stock has a 50-day moving average of $180.54 and a 200-day moving average of $205.75. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 1.00 and a beta of 1.54.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.15. The business had revenue of $652.70 million for the quarter, compared to analysts’ expectations of $653.52 million. WEX had a return on equity of 31.05% and a net margin of 9.32%. As a group, research analysts anticipate that WEX Inc. will post 13.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Jefferies Financial Group upped their target price on shares of WEX from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Citigroup raised their target price on shares of WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Wells Fargo & Company decreased their target price on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday. William Blair upgraded WEX to a “strong-buy” rating in a research note on Friday. Finally, Barclays upped their price objective on WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $238.08.

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.