Public Employees Retirement Association of Colorado Has $779,000 Stock Position in WEX Inc. (NYSE:WEX)

Public Employees Retirement Association of Colorado cut its stake in shares of WEX Inc. (NYSE:WEX) by 5.4% in the second quarter, Holdings Channel reports. The firm owned 4,395 shares of the business services provider’s stock after selling 250 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in WEX were worth $779,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in WEX during the first quarter worth about $29,000. International Assets Investment Management LLC acquired a new stake in shares of WEX in the 2nd quarter valued at approximately $33,000. Blue Trust Inc. boosted its stake in WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after acquiring an additional 187 shares during the last quarter. Covestor Ltd grew its holdings in WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 131 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in WEX in the first quarter valued at approximately $60,000. Institutional investors own 97.47% of the company’s stock.

WEX Stock Down 2.4 %

Shares of WEX stock opened at $204.72 on Thursday. The firm’s fifty day moving average price is $186.45 and its two-hundred day moving average price is $198.58. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04. The firm has a market capitalization of $8.41 billion, a P/E ratio of 33.29, a PEG ratio of 1.24 and a beta of 1.54.

WEX (NYSE:WEX) last released its earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $677.44 million. On average, equities analysts predict that WEX Inc. will post 13.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the transaction, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Jagtar Narula sold 540 shares of the stock in a transaction on 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 in the company, valued at approximately $1,470,240. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert Joseph Deshaies sold 1,651 shares of WEX stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total transaction of $299,937.17. Following the transaction, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at $1,409,214.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,985 shares of company stock valued at $1,094,907. 1.10% of the stock is owned by 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.