WEX Inc. (NYSE:WEX) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its holdings in shares of WEX Inc. (NYSE:WEX) by 8.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,039 shares of the business services provider’s stock after selling 178 shares during the quarter. Commonwealth Equity Services LLC’s holdings in WEX were worth $361,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Securities Inc. acquired a new position in WEX during the fourth quarter worth approximately $31,000. Dimensional Fund Advisors LP grew its stake in shares of WEX by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 338,388 shares of the business services provider’s stock valued at $65,838,000 after buying an additional 7,867 shares during the period. Norges Bank acquired a new stake in shares of WEX during the 4th quarter worth $89,745,000. Corient Private Wealth LLC increased its holdings in shares of WEX by 4.2% during the 4th quarter. Corient Private Wealth LLC now owns 10,158 shares of the business services provider’s stock worth $1,976,000 after buying an additional 409 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of WEX by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 18,965 shares of the business services provider’s stock worth $3,690,000 after buying an additional 190 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Insider Activity at WEX

In other news, COO Robert Joseph Deshaies sold 1,651 shares of the 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 owns 7,757 shares in the company, valued at approximately $1,409,214.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Robert Joseph Deshaies sold 1,651 shares of the firm’s 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 completion of the sale, the chief operating officer now owns 7,757 shares in the company, valued at $1,409,214.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,985 shares of company stock valued at $1,094,907. Insiders own 1.10% of the company’s stock.

WEX Trading Up 0.5 %

WEX stock opened at $207.11 on Monday. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.54. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04. The firm’s 50 day moving average price is $185.29 and its two-hundred day moving average price is $198.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03.

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

Analysts Set New Price Targets

WEX has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on 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 report on Friday, July 26th. Wells Fargo & Company reduced their price target on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods dropped their price objective 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 investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, WEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.58.

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.