Mutual of America Capital Management LLC Sells 3,087 Shares of WEX Inc. (NYSE:WEX)

Mutual of America Capital Management LLC decreased its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 14.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,928 shares of the business services provider's stock after selling 3,087 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of WEX worth $2,815,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC boosted its position in shares of WEX by 88.5% during the first quarter. Cerity Partners LLC now owns 10,002 shares of the business services provider's stock worth $1,571,000 after acquiring an additional 4,695 shares during the last quarter. Cornerstone Investment Partners LLC boosted its stake in shares of WEX by 2.9% during the first quarter. Cornerstone Investment Partners LLC now owns 4,705 shares of the business services provider's stock valued at $739,000 after purchasing an additional 133 shares in the last quarter. Beverly Hills Private Wealth LLC raised its stake in shares of WEX by 726.3% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 14,395 shares of the business services provider's stock worth $2,260,000 after acquiring an additional 12,653 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in WEX by 1.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 59,053 shares of the business services provider's stock worth $9,272,000 after purchasing an additional 578 shares in the last quarter. Finally, Eukles Asset Management raised its stake in WEX by 18.2% in the 1st quarter. Eukles Asset Management now owns 3,226 shares of the business services provider's stock worth $507,000 after acquiring an additional 497 shares during the last quarter. Institutional investors own 97.47% of the company's stock.

WEX Stock Down 0.1%

Shares of NYSE WEX traded down $0.17 during mid-day trading on Friday, hitting $153.38. The company had a trading volume of 404,661 shares, compared to its average volume of 581,741. The firm has a 50-day simple moving average of $142.48 and a two-hundred day simple moving average of $149.28. WEX Inc. has a one year low of $110.45 and a one year high of $217.47. The company has a market capitalization of $5.25 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 3.00 and a beta of 1.23. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.06.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.11. WEX had a net margin of 12.07% and a return on equity of 37.90%. The company had revenue of $636.60 million during the quarter, compared to the consensus estimate of $631.42 million. During the same quarter in the prior year, the firm posted $3.46 EPS. The firm's quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts expect that WEX Inc. will post 14.09 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WEX shares. Wells Fargo & Company cut their price target on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Oppenheimer assumed coverage on shares of WEX in a research note on Thursday, May 15th. They set a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft started coverage on WEX in a research report on Thursday. They set a "hold" rating and a $150.00 price target on the stock. UBS Group reduced their target price 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, Jefferies Financial Group upped their price target on WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a report on Tuesday, May 27th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $174.45.

Insider Transactions at WEX

In other news, CEO Melissa D. Smith acquired 3,721 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 101,182 shares of the company's stock, valued at $13,616,061.74. This trade represents a 3.82% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jennifer Kimball sold 1,400 shares of WEX stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $131.08, for a total value of $183,512.00. Following the completion of the sale, the chief accounting officer owned 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 disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

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.