IQ EQ FUND MANAGEMENT IRELAND Ltd Trims Stock Position in WEX Inc. (NYSE:WEX)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its holdings in WEX Inc. (NYSE:WEX) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,869 shares of the business services provider’s stock after selling 106 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in WEX were worth $602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in WEX by 34.3% in the second quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock valued at $87,772,000 after purchasing an additional 126,663 shares during the period. Distillate Capital Partners LLC purchased a new stake in shares of WEX during the 2nd quarter valued at $13,950,000. Vanguard Group Inc. increased its holdings in shares of WEX by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock worth $816,919,000 after buying an additional 67,893 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of WEX by 1,610.6% during the 1st quarter. Vident Advisory LLC now owns 58,264 shares of the business services provider’s stock worth $13,839,000 after buying an additional 54,858 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of WEX by 5.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock worth $173,561,000 after buying an additional 48,182 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on WEX. Wells Fargo & Company dropped their price target on WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, July 26th. JPMorgan Chase & Co. cut their price target on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. William Blair upgraded shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Bank of America raised their target price on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods decreased their price target on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.33.

Insider Transactions at WEX

In related news, insider Melanie J. Tinto sold 1,564 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total value of $289,402.56. Following the completion of the sale, the insider now directly owns 8,461 shares of the company’s stock, valued at $1,565,623.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Ann Elena Drew sold 1,182 shares of WEX stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value 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 approximately $964,524.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Melanie J. Tinto sold 1,564 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total transaction of $289,402.56. Following the sale, the insider now directly owns 8,461 shares of the company’s stock, valued at approximately $1,565,623.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,905 shares of company stock valued at $895,107. Insiders own 1.10% of the company’s stock.

WEX Stock Performance

Shares of WEX opened at $213.55 on Friday. The firm has a market cap of $8.77 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 1.28 and a beta of 1.55. 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 business’s 50 day moving average is $195.75 and its two-hundred day moving average is $196.01. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.09. The firm had revenue of $673.50 million for the quarter, compared to analysts’ expectations of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. Analysts forecast that WEX Inc. will post 13.75 EPS for the current fiscal year.

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.