WEX Inc. (NYSE:WEX) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its stake in shares of WEX Inc. (NYSE:WEX) by 20.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 441,597 shares of the business services provider’s stock after selling 116,550 shares during the period. Jennison Associates LLC owned about 1.03% of WEX worth $85,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in WEX by 15.6% during the fourth quarter. CWM LLC now owns 377 shares of the business services provider’s stock worth $73,000 after buying an additional 51 shares in the last quarter. VisionPoint Advisory Group LLC boosted its holdings in WEX by 74.7% during the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after buying an additional 62 shares in the last quarter. Bath Savings Trust Co boosted its holdings in WEX by 0.3% during the fourth quarter. Bath Savings Trust Co now owns 27,284 shares of the business services provider’s stock worth $5,308,000 after buying an additional 80 shares in the last quarter. Arizona State Retirement System boosted its holdings in WEX by 0.7% during the third quarter. Arizona State Retirement System now owns 12,198 shares of the business services provider’s stock worth $2,294,000 after buying an additional 83 shares in the last quarter. Finally, Wendell David Associates Inc. boosted its holdings in WEX by 7.9% during the third quarter. Wendell David Associates Inc. now owns 1,189 shares of the business services provider’s stock worth $224,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

NYSE:WEX opened at $230.47 on Tuesday. WEX Inc. has a 1-year low of $161.95 and a 1-year high of $244.04. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $230.06 and a 200-day simple moving average of $202.94. The firm has a market cap of $9.62 billion, a PE ratio of 37.41, a P/E/G ratio of 1.49 and a beta of 1.59.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a return on equity of 31.33% and a net margin of 10.46%. The company had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. On average, equities analysts expect that WEX Inc. will post 13.55 EPS for the current year.

Insider Buying and Selling

In related news, CAO Jennifer Kimball sold 574 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.24, for a total transaction of $127,565.76. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Jennifer Kimball sold 574 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.24, for a total transaction of $127,565.76. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ann Elena Drew sold 4,531 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total transaction of $987,893.93. Following the transaction, the insider now directly owns 3,653 shares of the company’s stock, valued at approximately $796,463.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,326 shares of company stock valued at $6,281,961. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Citigroup boosted their price objective on shares of WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. upped their price target on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Robert W. Baird upped their price target on shares of WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Evercore ISI upped their price target on shares of WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Finally, TheStreet raised shares of WEX from a “c” rating to a “b” rating in a report on Thursday, February 8th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, WEX has an average rating of “Moderate Buy” and a consensus target price of $240.00.

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.