TimesSquare Capital Management LLC Has $56.13 Million Holdings in WEX Inc. (NYSE:WEX)

TimesSquare Capital Management LLC increased its stake in shares of WEX Inc. (NYSE:WEX) by 17.4% during the fourth quarter, HoldingsChannel reports. The fund owned 288,527 shares of the business services provider’s stock after acquiring an additional 42,700 shares during the quarter. TimesSquare Capital Management LLC’s holdings in WEX were worth $56,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB lifted its stake in WEX by 2,524.0% during the fourth quarter. Handelsbanken Fonder AB now owns 163,844 shares of the business services provider’s stock worth $31,876,000 after purchasing an additional 157,600 shares during the period. Assenagon Asset Management S.A. acquired a new stake in WEX in the 3rd quarter valued at $22,115,000. HM Payson & Co. raised its stake in WEX by 313.3% during the third quarter. HM Payson & Co. now owns 132,080 shares of the business services provider’s stock worth $24,843,000 after acquiring an additional 100,120 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of WEX by 2.1% during the third quarter. Vanguard Group Inc. now owns 4,131,124 shares of the business services provider’s stock valued at $777,023,000 after acquiring an additional 83,102 shares during the period. Finally, Creative Planning boosted its stake in shares of WEX by 110.6% in the 3rd quarter. Creative Planning now owns 143,702 shares of the business services provider’s stock valued at $27,029,000 after purchasing an additional 75,476 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Jagtar Narula sold 309 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the completion of the transaction, the chief financial officer now directly owns 5,528 shares in the company, valued at approximately $1,289,350.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other WEX news, CFO Jagtar Narula sold 309 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the completion of the transaction, the chief financial officer now owns 5,528 shares in the company, valued at approximately $1,289,350.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jennifer Kimball sold 574 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $222.24, for a total value of $127,565.76. Following the transaction, the chief accounting officer now directly owns 1,297 shares of the company’s stock, valued at $288,245.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,157 shares of company stock worth $7,090,562. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on WEX. Robert W. Baird lifted their price target on shares of WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a report on Monday, April 15th. StockNews.com downgraded WEX from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Truist Financial raised their price target on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a report on Friday, February 9th. Citigroup increased their target price on WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Mizuho lifted their price target on WEX from $225.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.00.

WEX Trading Down 0.8 %

WEX traded down $1.59 during trading on Thursday, reaching $208.41. 289,446 shares of the company’s stock were exchanged, compared to its average volume of 306,811. The company’s fifty day moving average price is $229.15 and its 200-day moving average price is $205.04. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $8.73 billion, a PE ratio of 34.15, a P/E/G ratio of 1.21 and a beta of 1.60. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The firm had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. As a group, equities analysts forecast that WEX Inc. will post 13.96 EPS for the current year.

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.