Teachers Retirement System of The State of Kentucky Sells 316 Shares of WEX Inc. (NYSE:WEX)

Teachers Retirement System of The State of Kentucky lowered its stake in WEX Inc. (NYSE:WEX) by 1.3% in the 2nd quarter, Holdings Channel reports. The firm owned 23,190 shares of the business services provider’s stock after selling 316 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in WEX were worth $4,108,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in WEX. Rise Advisors LLC bought a new position in WEX in the 1st quarter worth about $29,000. International Assets Investment Management LLC bought a new position in WEX in the 2nd quarter worth about $33,000. Quarry LP boosted its position 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 acquiring an additional 165 shares during the last quarter. Blue Trust Inc. boosted its position 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 acquiring an additional 187 shares during the last quarter. Finally, Covestor Ltd boosted its position 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 acquiring an additional 131 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

WEX Price Performance

Shares of WEX stock opened at $205.90 on Thursday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50 day simple moving average is $188.32 and its two-hundred day simple moving average is $197.66. The stock has a market capitalization of $8.46 billion, a P/E ratio of 33.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.54. WEX Inc. has a one year low of $161.95 and a one year high of $244.04.

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

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 540 shares of WEX stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $180.00, for a total value of $97,200.00. Following the transaction, the chief financial officer now directly 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 available through the SEC website. In other news, insider Melanie J. Tinto sold 1,564 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the transaction, the insider now directly owns 8,461 shares of the company’s stock, valued at $1,565,623.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jagtar Narula sold 540 shares of WEX stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the sale, the chief financial officer now owns 8,168 shares in the company, valued at $1,470,240. The disclosure for this sale can be found here. Insiders have sold 5,985 shares of company stock valued at $1,094,907 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

WEX has been the subject of a number of research analyst reports. William Blair upgraded WEX to a “strong-buy” rating in a research report on Friday, July 26th. 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 report on Friday, July 26th. JPMorgan Chase & Co. dropped their price target on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods dropped their price target on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Six equities research 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.58.

WEX Company Profile

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.