GSA Capital Partners LLP Sells 1,196 Shares of WEX Inc. (NYSE:WEX)

GSA Capital Partners LLP lowered its holdings in shares of WEX Inc. (NYSE:WEX) by 25.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,529 shares of the business services provider’s stock after selling 1,196 shares during the period. GSA Capital Partners LLP’s holdings in WEX were worth $740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. American Century Companies Inc. boosted its position in shares of WEX by 0.7% in the 2nd quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock worth $1,847,000 after purchasing an additional 68 shares in the last quarter. Ballentine Partners LLC boosted its holdings in WEX by 3.3% in the second quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock worth $396,000 after acquiring an additional 72 shares in the last quarter. GAMMA Investing LLC boosted its holdings in WEX by 40.7% in the third quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after acquiring an additional 87 shares in the last quarter. Covestor Ltd grew its stake in shares of WEX by 47.3% in the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after acquiring an additional 89 shares during the last quarter. Finally, Long Road Investment Counsel LLC increased its holdings in shares of WEX by 0.4% during the second quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider’s stock valued at $4,729,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Insiders Place Their Bets

In other WEX news, COO Robert Joseph Deshaies sold 1,651 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the transaction, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. This represents a 17.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jagtar Narula sold 508 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. This trade represents a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

WEX Stock Performance

WEX opened at $179.08 on Monday. The company’s 50 day moving average is $197.33 and its 200 day moving average is $188.85. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.41 and a beta of 1.57. WEX Inc. has a 12-month low of $165.51 and a 12-month high of $244.04.

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

Analyst Upgrades and Downgrades

WEX has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. 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 research report on Friday, October 25th. Wolfe Research lowered shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Jefferies Financial Group increased their target price on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, Bank of America boosted their price target on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.91.

WEX 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.