Xponance Inc. Sells 1,979 Shares of WEX Inc. (NYSE:WEX)

Xponance Inc. cut its stake in WEX Inc. (NYSE:WEX) by 28.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,936 shares of the business services provider’s stock after selling 1,979 shares during the quarter. Xponance Inc.’s holdings in WEX were worth $874,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of WEX. Lombard Odier Asset Management Europe Ltd purchased a new stake in WEX in the 2nd quarter valued at $1,329,000. Magnetar Financial LLC bought a new stake in shares of WEX in the 2nd quarter worth $3,658,000. Long Road Investment Counsel LLC raised its holdings in shares of WEX by 0.4% in the second quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider’s stock valued at $4,729,000 after purchasing an additional 100 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in shares of WEX by 19.3% during the second quarter. Ensign Peak Advisors Inc now owns 24,582 shares of the business services provider’s stock valued at $4,354,000 after purchasing an additional 3,980 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in WEX by 19.2% during the second quarter. Sei Investments Co. now owns 53,638 shares of the business services provider’s stock worth $9,501,000 after purchasing an additional 8,657 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Analyst Ratings Changes

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

WEX Price Performance

NYSE WEX opened at $209.10 on Friday. The company has a market cap of $8.76 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 1.25 and a beta of 1.54. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. The firm’s 50-day simple moving average is $187.34 and its two-hundred day simple moving average is $198.48. WEX Inc. has a 52 week low of $161.95 and a 52 week high of $244.04.

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

Insider Activity

In related news, CFO Jagtar Narula sold 540 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.00, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00. Following the completion of the transaction, the chief financial officer now owns 8,168 shares of the company’s stock, valued at $1,470,240. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ann Elena Drew sold 1,182 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 5,584 shares of the company’s stock, valued at $964,524.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,985 shares of company stock worth $1,094,907. 1.10% of the stock is owned by corporate 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.