Clark Asset Management LLC Takes $480,000 Position in WEX Inc. $WEX

Clark Asset Management LLC purchased a new stake in WEX Inc. (NYSE:WEX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,265 shares of the business services provider’s stock, valued at approximately $480,000.

Several other large investors have also recently bought and sold shares of WEX. Hsbc Holdings PLC boosted its position in WEX by 20,412.8% during the first quarter. Hsbc Holdings PLC now owns 638,563 shares of the business services provider’s stock valued at $99,069,000 after purchasing an additional 635,450 shares during the last quarter. Millennium Management LLC boosted its position in WEX by 652.7% during the first quarter. Millennium Management LLC now owns 412,665 shares of the business services provider’s stock valued at $64,797,000 after purchasing an additional 357,842 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in WEX by 158.3% during the first quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider’s stock valued at $55,097,000 after purchasing an additional 215,036 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in WEX by 79.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 381,767 shares of the business services provider’s stock valued at $59,945,000 after purchasing an additional 169,137 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in WEX by 399.9% during the first quarter. Jane Street Group LLC now owns 210,707 shares of the business services provider’s stock valued at $33,085,000 after purchasing an additional 168,558 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. William Blair reissued a “market perform” rating on shares of WEX in a research report on Friday, July 25th. Robert W. Baird increased their price target on WEX from $198.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Zacks Research cut WEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. UBS Group upped their price objective on WEX from $138.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of WEX in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $173.91.

WEX Price Performance

Shares of NYSE WEX opened at $160.84 on Tuesday. The firm has a market cap of $5.51 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 1.39 and a beta of 1.26. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $191.43. The business’s 50 day moving average is $163.50 and its 200-day moving average is $151.31.

Insider Buying and Selling

In other news, insider Ann Elena Drew sold 1,931 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $171.69, for a total transaction of $331,533.39. Following the transaction, the insider owned 7,295 shares in the company, valued at approximately $1,252,478.55. This trade represents a 20.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Carlos Carriedo sold 875 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $171.68, for a total value of $150,220.00. Following the transaction, the chief operating officer owned 5,270 shares in the company, valued at approximately $904,753.60. This trade represents a 14.24% decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

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.