State of Alaska Department of Revenue Grows Stock Position in WEX Inc. (NYSE:WEX)

State of Alaska Department of Revenue boosted its position in shares of WEX Inc. (NYSE:WEX) by 2.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,771 shares of the business services provider’s stock after buying an additional 135 shares during the quarter. State of Alaska Department of Revenue’s holdings in WEX were worth $1,000,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in WEX during the 2nd quarter valued at about $33,000. Quarry LP boosted its position in shares of WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after buying an additional 165 shares during the period. Blue Trust Inc. grew its stake in shares of WEX by 456.1% during the second 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 during the last quarter. Covestor Ltd raised its holdings in shares of WEX by 233.9% in the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after buying an additional 131 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in shares of WEX during the 1st quarter worth approximately $60,000. Institutional investors own 97.47% of the company’s stock.

WEX Stock Down 1.0 %

Shares of WEX stock opened at $172.05 on Tuesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. WEX Inc. has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The firm has a market capitalization of $6.84 billion, a PE ratio of 21.83, a P/E/G ratio of 1.36 and a beta of 1.57. The stock’s 50-day simple moving average is $198.63 and its 200-day simple moving average is $191.43.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company reduced their target price on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Jefferies Financial Group lifted their price objective on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. William Blair upgraded shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. Finally, Robert W. Baird reduced their price target on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Six 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 MarketBeat.com, WEX has an average rating of “Moderate Buy” and a consensus target price of $235.91.

Insiders Place Their Bets

In related 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 sale, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jagtar Narula sold 508 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

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.