Zurcher Kantonalbank Zurich Cantonalbank Sells 136 Shares of WEX Inc. (NYSE:WEX)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in WEX Inc. (NYSE:WEX) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,101 shares of the business services provider’s stock after selling 136 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in WEX were worth $1,909,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its stake in WEX by 206.1% in the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 101 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of WEX during the second quarter valued at about $33,000. Quarry LP grew its holdings 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 last quarter. Blue Trust Inc. grew its holdings 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. Finally, Covestor Ltd grew its holdings in shares of WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after buying an additional 89 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Robert W. Baird reduced their price objective 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. Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Bank of America boosted their price target on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group boosted their price target on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.91.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. This represents a 6.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the transaction, the chief operating officer now directly owns 7,582 shares in the company, valued at $1,436,334.08. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

WEX Stock Performance

NYSE WEX opened at $183.85 on Thursday. The company’s 50 day moving average is $193.23 and its 200-day moving average is $186.99. WEX Inc. has a 12-month low of $165.51 and a 12-month high of $244.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. The firm has a market cap of $7.31 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 1.50 and a beta of 1.57.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. During the same quarter in the previous year, the firm posted $3.44 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts predict that WEX Inc. will post 13.1 earnings per share for the current year.

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.