WEX Inc. (NYSE:WEX) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina cut its position in shares of WEX Inc. (NYSE:WEXFree Report) by 22.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 18,775 shares of the business services provider’s stock after selling 5,320 shares during the period. Treasurer of the State of North Carolina’s holdings in WEX were worth $3,531,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WEX. Morgan Stanley boosted its position in shares of WEX by 342.4% in the fourth quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock worth $337,102,000 after buying an additional 1,594,294 shares during the period. Norges Bank purchased a new position in WEX in the fourth quarter valued at about $73,069,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in WEX by 40.6% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 598,641 shares of the business services provider’s stock valued at $108,024,000 after purchasing an additional 172,805 shares during the last quarter. Wellington Management Group LLP boosted its holdings in WEX by 4.2% in the first quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider’s stock valued at $731,925,000 after purchasing an additional 164,902 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in WEX by 49.4% in the second quarter. Goldman Sachs Group Inc. now owns 425,832 shares of the business services provider’s stock valued at $77,531,000 after purchasing an additional 140,870 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on WEX. JPMorgan Chase & Co. upped their price objective on WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Barclays upped their price objective on WEX from $240.00 to $255.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. William Blair restated an “outperform” rating on shares of WEX in a research note on Thursday, February 8th. Mizuho increased their price target on WEX from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, TheStreet upgraded WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $227.08.

Check Out Our Latest Report on WEX

WEX Stock Performance

Shares of NYSE WEX opened at $221.99 on Tuesday. The stock has a fifty day moving average price of $206.73 and a two-hundred day moving average price of $192.97. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $9.27 billion, a P/E ratio of 36.04, a PEG ratio of 1.42 and a beta of 1.59. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $224.61.

WEX (NYSE:WEXGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The firm had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. Research analysts forecast that WEX Inc. will post 13.57 EPS for the current fiscal year.

Insider Transactions at WEX

In other news, CEO Melissa D. Smith sold 41,107 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the completion of the sale, the chief executive officer now directly owns 81,998 shares of the company’s stock, valued at approximately $16,809,590. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Jennifer Kimball sold 574 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $222.24, for a total value of $127,565.76. Following the completion of the sale, the chief accounting officer now owns 1,297 shares of the company’s stock, valued at $288,245.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Melissa D. Smith sold 41,107 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $205.00, for a total value of $8,426,935.00. Following the completion of the sale, the chief executive officer now directly owns 81,998 shares of the company’s stock, valued at approximately $16,809,590. The disclosure for this sale can be found here. Insiders sold a total of 67,399 shares of company stock valued at $14,255,479 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

WEX Profile

(Free Report)

WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account 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 tools to fleets to manage expenses and capital requirements.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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