Hancock Whitney Corp Lowers Stock Holdings in WEX Inc. (NYSE:WEX)

Hancock Whitney Corp reduced its position in shares of WEX Inc. (NYSE:WEX) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,597 shares of the business services provider’s stock after selling 245 shares during the period. Hancock Whitney Corp’s holdings in WEX were worth $617,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WEX. Wellington Management Group LLP increased its position in shares of WEX by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after purchasing an additional 179,813 shares in the last quarter. Kodai Capital Management LP acquired a new position in WEX in the 4th quarter valued at about $49,750,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in WEX in the 4th quarter valued at about $3,617,000. International Assets Investment Management LLC increased its position in WEX by 19,044.7% in the 4th quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock valued at $7,002,000 after acquiring an additional 35,804 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in WEX by 2.7% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock valued at $177,076,000 after acquiring an additional 22,865 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on WEX. Citigroup boosted their price target on WEX from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Wells Fargo & Company dropped their price target on WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Jefferies Financial Group lifted their price objective on WEX from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, April 12th. Robert W. Baird lifted their price objective on WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, Barclays lifted their price objective on WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Six investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $240.42.

Insider Transactions at WEX

In other news, CFO Jagtar Narula sold 540 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00. Following the transaction, the chief financial officer now owns 8,168 shares of the company’s stock, valued at $1,470,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

WEX Stock Down 2.2 %

WEX stock traded down $4.09 during trading on Thursday, reaching $179.36. 222,509 shares of the company’s stock were exchanged, compared to its average volume of 336,479. The company’s 50-day moving average is $179.99 and its two-hundred day moving average is $205.51. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 1.10 and a beta of 1.54.

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.