Jacobs Levy Equity Management Inc. Has $7.88 Million Stock Holdings in WEX Inc. (NYSE:WEX)

Jacobs Levy Equity Management Inc. lifted its position in shares of WEX Inc. (NYSE:WEX) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,186 shares of the business services provider’s stock after purchasing an additional 154 shares during the period. Jacobs Levy Equity Management Inc. owned 0.08% of WEX worth $7,883,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WEX. Norges Bank bought a new stake in shares of WEX during the 4th quarter worth about $89,745,000. Kodai Capital Management LP bought a new stake in shares of WEX during the 4th quarter worth about $49,750,000. Wellington Management Group LLP boosted its holdings in shares of WEX by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after buying an additional 179,813 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of WEX by 2,524.0% during the 4th quarter. Handelsbanken Fonder AB now owns 163,844 shares of the business services provider’s stock worth $31,876,000 after buying an additional 157,600 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of WEX by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock worth $816,919,000 after buying an additional 67,893 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at WEX

In other news, CAO Jennifer Kimball sold 1,200 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were 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 owns 1,909 shares of the company’s stock, valued at $403,848.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Jagtar Narula sold 540 shares of WEX stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00. Following the completion of the transaction, the chief financial officer now owns 8,168 shares of the company’s stock, valued at $1,470,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer Kimball sold 1,200 shares of WEX stock in a transaction 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 transaction, the chief accounting officer now directly owns 1,909 shares of the company’s stock, valued at approximately $403,848.95. The disclosure for this sale can be found here. Insiders sold a total of 4,911 shares of company stock valued at $1,008,402 in the last quarter. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods cut their price objective on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, July 8th. William Blair raised shares of WEX to a “strong-buy” rating in a report on Friday. Wells Fargo & Company cut their price objective on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Barclays boosted their price objective on shares of WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $240.42.

WEX Price Performance

NYSE:WEX traded down $2.45 on Tuesday, hitting $184.18. The company had a trading volume of 375,696 shares, compared to its average volume of 337,122. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 1.06 and a beta of 1.55. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The firm has a 50 day moving average of $180.22 and a two-hundred day moving average of $205.67. WEX Inc. has a 52 week low of $161.95 and a 52 week high of $244.04.

WEX Company 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.