WEX Inc. (NYSE:WEX) Holdings Reduced by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its holdings in shares of WEX Inc. (NYSE:WEX) by 40.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,825 shares of the business services provider’s stock after selling 14,331 shares during the period. Massachusetts Financial Services Co. MA owned 0.05% of WEX worth $3,689,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Principal Securities Inc. acquired a new position in WEX during the 4th quarter worth $31,000. Dimensional Fund Advisors LP grew its position in WEX by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 338,388 shares of the business services provider’s stock valued at $65,838,000 after buying an additional 7,867 shares in the last quarter. Norges Bank bought a new position in WEX in the 4th quarter valued at about $89,745,000. Corient Private Wealth LLC raised its position in shares of WEX by 4.2% during the 4th quarter. Corient Private Wealth LLC now owns 10,158 shares of the business services provider’s stock worth $1,976,000 after buying an additional 409 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in shares of WEX by 19.3% in the 4th quarter. Westfield Capital Management Co. LP now owns 228,078 shares of the business services provider’s stock worth $44,373,000 after acquiring an additional 36,906 shares during the period. Institutional investors own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

WEX has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Wells Fargo & Company cut their price objective on WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Keefe, Bruyette & Woods lowered their target price on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Finally, William Blair raised shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $239.58.

Insider Activity at WEX

In related news, insider Ann Elena Drew sold 1,182 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the transaction, the insider now owns 5,584 shares of the company’s stock, valued at $964,524.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other WEX news, insider Ann Elena Drew sold 1,182 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the transaction, the insider now directly owns 5,584 shares in the company, valued at $964,524.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jagtar Narula sold 540 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.00, for a total value of $97,200.00. Following the sale, the chief financial officer now owns 8,168 shares of the company’s stock, valued at approximately $1,470,240. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,985 shares of company stock valued at $1,094,907. 1.10% of the stock is owned by corporate insiders.

WEX Trading Up 0.5 %

NYSE:WEX opened at $207.11 on Friday. The stock’s 50-day moving average is $185.29 and its two-hundred day moving average is $199.00. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The stock has a market cap of $8.68 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.09. WEX had a return on equity of 31.05% and a net margin of 9.32%. The business had revenue of $673.50 million during the quarter, compared to analyst estimates of $677.44 million. As a group, equities research analysts forecast that WEX Inc. will post 13.75 earnings per share 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.