WEX Inc. (NYSE:WEX) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its holdings in shares of WEX Inc. (NYSE:WEX) by 0.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 693,297 shares of the business services provider’s stock after selling 5,503 shares during the period. Geode Capital Management LLC owned 1.74% of WEX worth $145,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC lifted its stake in WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after purchasing an additional 101 shares during the last quarter. International Assets Investment Management LLC purchased a new position in WEX in the second quarter valued at approximately $33,000. Quarry LP raised its holdings in WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after purchasing an additional 165 shares in the last quarter. Blue Trust Inc. lifted its position in shares of WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after buying an additional 187 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of WEX by 47.3% in the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after buying an additional 89 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Price Performance

Shares of NYSE WEX opened at $177.19 on Tuesday. 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 market cap of $7.05 billion, a PE ratio of 22.49, a P/E/G ratio of 1.39 and a beta of 1.57. The stock has a fifty day moving average price of $188.70 and a 200 day moving average price of $186.48. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04.

WEX (NYSE:WEX) last issued its earnings results 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. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. During the same quarter in the previous year, the firm earned $3.44 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that WEX Inc. will post 13.1 EPS for the current year.

Insiders Place Their Bets

In related news, COO Robert Joseph Deshaies sold 175 shares of the company’s 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 transaction, the chief operating officer now owns 7,582 shares of the company’s stock, valued at $1,436,334.08. This represents a 2.26 % 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 currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wells Fargo & Company cut their price target on shares of 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 boosted their target price on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird dropped their price target on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. lowered their target price 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. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.91.

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.