WEX Inc. (NYSE:WEX) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its position in shares of WEX Inc. (NYSE:WEX) by 6.9% in the third quarter, HoldingsChannel.com reports. The fund owned 314,438 shares of the business services provider’s stock after selling 23,161 shares during the period. Charles Schwab Investment Management Inc.’s holdings in WEX were worth $65,947,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of WEX by 5.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock valued at $173,561,000 after purchasing an additional 48,182 shares during the period. River Road Asset Management LLC boosted its position in WEX by 5.0% in the 3rd quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock valued at $151,103,000 after buying an additional 34,264 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of WEX by 34.3% in the second quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock worth $87,772,000 after acquiring an additional 126,663 shares in the last quarter. Federated Hermes Inc. increased its position in shares of WEX by 3.0% during the second quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider’s stock worth $71,275,000 after acquiring an additional 11,821 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of WEX by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 378,969 shares of the business services provider’s stock valued at $67,131,000 after acquiring an additional 17,989 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at WEX

In related news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. This trade represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price target on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Wells Fargo & Company dropped their price objective on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Jefferies Financial Group lifted their price objective on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Bank of America boosted 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. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $235.91.

WEX Stock Up 2.1 %

Shares of NYSE WEX opened at $189.80 on Friday. The business has a 50-day moving average price of $195.19 and a 200 day moving average price of $187.53. The stock has a market cap of $7.55 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.47 and a beta of 1.57. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX Inc. has a 52-week low of $165.51 and a 52-week high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.53. The business had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.44 earnings per share. Equities research analysts forecast that WEX Inc. will post 13.1 earnings per share for the current 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.