New York State Teachers Retirement System Reduces Stake in WEX Inc. (NYSE:WEX)

New York State Teachers Retirement System trimmed its stake in WEX Inc. (NYSE:WEX) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,337 shares of the business services provider’s stock after selling 2,200 shares during the quarter. New York State Teachers Retirement System owned approximately 0.12% of WEX worth $10,557,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of WEX during the 2nd quarter valued at approximately $33,000. Quarry LP lifted its stake in shares of WEX by 717.4% during the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after buying an additional 165 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after buying an additional 187 shares in the last quarter. Covestor Ltd lifted its stake in shares of WEX by 233.9% during the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after buying an additional 131 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of WEX during the 1st quarter valued at approximately $60,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Price Performance

WEX stock opened at $173.79 on Monday. WEX Inc. has a one year low of $165.51 and a one year high of $244.04. The company’s fifty day moving average price is $198.93 and its 200-day moving average price is $192.10. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $6.91 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.36 and a beta of 1.57.

WEX (NYSE:WEX) last released its earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. During the same quarter in the previous year, the firm earned $3.44 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that WEX Inc. will post 13.2 EPS for the current fiscal year.

Insider Activity at WEX

In related news, COO Robert Joseph Deshaies sold 1,651 shares of the company’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 sale, the chief operating officer now owns 7,757 shares of the company’s stock, valued at $1,409,214.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Robert Joseph Deshaies sold 1,651 shares of the company’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 sale, the chief operating officer now owns 7,757 shares of the company’s stock, valued at $1,409,214.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WEX has been the topic of several recent analyst reports. Bank of America increased their target price on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Robert W. Baird lowered their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company lowered their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Finally, Jefferies Financial Group increased their target price on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.91.

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.