WEX Inc. (NYSE:WEX) Holdings Trimmed by Algert Global LLC

Algert Global LLC lowered its holdings in WEX Inc. (NYSE:WEX) by 59.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,380 shares of the business services provider’s stock after selling 12,260 shares during the period. Algert Global LLC’s holdings in WEX were worth $1,758,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rice Hall James & Associates LLC lifted its stake in WEX by 672.7% in the 3rd quarter. Rice Hall James & Associates LLC now owns 154,033 shares of the business services provider’s stock worth $32,305,000 after acquiring an additional 134,099 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of WEX by 34.3% in the second quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock worth $87,772,000 after purchasing an additional 126,663 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of WEX by 328.6% during the third quarter. New York State Common Retirement Fund now owns 127,570 shares of the business services provider’s stock worth $26,755,000 after purchasing an additional 97,807 shares during the period. Distillate Capital Partners LLC purchased a new position in WEX during the second quarter valued at approximately $13,950,000. Finally, HM Payson & Co. increased its stake in WEX by 61.3% in the 3rd quarter. HM Payson & Co. now owns 149,341 shares of the business services provider’s stock valued at $31,321,000 after buying an additional 56,775 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analysts Set New Price Targets

WEX has been the topic of several research analyst reports. Jefferies Financial Group boosted their price target on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Bank of America upped their target price on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their price target on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Wells Fargo & Company dropped their price objective on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Finally, Robert W. Baird reduced their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.91.

WEX Stock Up 2.1 %

WEX stock opened at $189.79 on Thursday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50-day moving average of $195.44 and a two-hundred day moving average of $187.51. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 1.49 and a beta of 1.57. WEX Inc. has a 52-week low of $165.51 and a 52-week high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.53. The company had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. WEX’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.44 earnings per share. As a group, equities research analysts anticipate that WEX Inc. will post 13.1 EPS for the current year.

Insider Activity

In related news, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. The trade was a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by company insiders.

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.