SageView Advisory Group LLC Trims Stock Position in WEX Inc. (NYSE:WEX)

SageView Advisory Group LLC lowered its position in shares of WEX Inc. (NYSE:WEX) by 36.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 995 shares of the business services provider’s stock after selling 571 shares during the period. SageView Advisory Group LLC’s holdings in WEX were worth $209,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in WEX by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after acquiring an additional 179,813 shares in the last quarter. Kodai Capital Management LP purchased a new position in WEX in the 4th quarter worth approximately $49,750,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in WEX in the 4th quarter worth approximately $3,617,000. International Assets Investment Management LLC grew its stake in WEX by 19,044.7% in the 4th quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock worth $7,002,000 after buying an additional 35,804 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in WEX by 2.7% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock worth $177,076,000 after buying an additional 22,865 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Insider Transactions at WEX

In other news, CAO Jennifer Kimball sold 1,200 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $211.55, for a total value of $253,860.00. Following the transaction, the chief accounting officer now owns 1,909 shares in the company, valued at approximately $403,848.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Sara Trickett sold 734 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total value of $154,455.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Jennifer Kimball sold 1,200 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 1,909 shares in the company, valued at approximately $403,848.95. The disclosure for this sale can be found here. Insiders have sold 3,831 shares of company stock worth $808,602 in the last quarter. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Robert W. Baird boosted their price target on shares of WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Citigroup boosted their price target on shares of WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Evercore ISI boosted their price objective on shares of WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Finally, Wells Fargo & Company began coverage on shares of WEX in a report on Wednesday, June 5th. They issued an “equal weight” rating and a $200.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $237.14.

WEX Stock Performance

Shares of WEX stock opened at $169.97 on Friday. WEX Inc. has a one year low of $161.95 and a one year high of $244.04. The company’s 50-day moving average is $199.99 and its 200 day moving average is $207.59. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 0.98 and a beta of 1.56. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06.

WEX (NYSE:WEX) last posted its earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.15. The business had revenue of $652.70 million for the quarter, compared to analysts’ expectations of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. Sell-side analysts expect that WEX Inc. will post 13.95 EPS for the current fiscal 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.