Lecap Asset Management Ltd. Takes Position in WEX Inc. (NYSE:WEX)

Lecap Asset Management Ltd. purchased a new position in shares of WEX Inc. (NYSE:WEX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,450 shares of the business services provider's stock, valued at approximately $1,327,000.

A number of other institutional investors have also added to or reduced their stakes in WEX. Investment Management Corp VA ADV purchased a new position in shares of WEX in the 4th quarter worth approximately $25,000. State of Wyoming purchased a new position in WEX in the fourth quarter worth $35,000. Jones Financial Companies Lllp grew its stake in WEX by 108.4% in the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock valued at $43,000 after purchasing an additional 129 shares during the period. Farther Finance Advisors LLC increased its position in shares of WEX by 161.5% during the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after purchasing an additional 168 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of 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 purchasing an additional 114 shares during the period. 97.47% of the stock is owned by institutional investors.

Insider Activity

In other WEX news, CEO Melissa D. Smith acquired 3,721 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was bought at an average price of $134.57 per share, with a total value of $500,734.97. Following the completion of the acquisition, the chief executive officer now owns 101,182 shares of the company's stock, valued at $13,616,061.74. This trade represents a 3.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Jennifer Kimball sold 1,400 shares of the firm'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 sale, the chief accounting officer now directly owns 3,177 shares in the company, valued at $416,441.16. This represents a 30.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Oppenheimer started coverage on shares of WEX in a research report on Thursday, May 15th. They set a "market perform" rating for the company. Jefferies Financial Group increased their target price on shares of WEX from $130.00 to $135.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. UBS Group decreased their price target on shares of WEX from $172.00 to $138.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Wells Fargo & Company dropped their price objective on WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $176.90.

WEX Stock Performance

Shares of WEX stock traded up $0.83 during trading hours on Friday, reaching $150.22. The company had a trading volume of 136,111 shares, compared to its average volume of 580,036. The firm has a market cap of $5.14 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 2.85 and a beta of 1.22. WEX Inc. has a one year low of $110.45 and a one year high of $217.47. The company has a debt-to-equity ratio of 5.06, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day simple moving average of $134.42 and a 200 day simple moving average of $151.94.

WEX (NYSE:WEX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.40 by $0.11. The business had revenue of $636.60 million during the quarter, compared to the consensus estimate of $631.42 million. WEX had a return on equity of 37.90% and a net margin of 12.07%. 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, analysts anticipate 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.