Algert Global LLC Sells 12,260 Shares of WEX Inc. (NYSE:WEX)

Algert Global LLC decreased its holdings in shares of WEX Inc. (NYSE:WEX) by 59.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

A number of other institutional investors also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC bought a new position in shares of WEX during the 1st quarter worth approximately $338,000. Cetera Investment Advisers boosted its stake in shares of WEX by 856.0% in the 1st quarter. Cetera Investment Advisers now owns 13,289 shares of the business services provider’s stock valued at $3,157,000 after purchasing an additional 11,899 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of WEX in the 1st quarter worth about $327,000. HM Payson & Co. increased its position in shares of WEX by 4.8% during the 1st quarter. HM Payson & Co. now owns 169,230 shares of the business services provider’s stock worth $40,197,000 after purchasing an additional 7,733 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in WEX during the 2nd quarter valued at about $94,000. 97.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WEX. JPMorgan Chase & Co. dropped their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Jefferies Financial Group lifted their price objective on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Robert W. Baird decreased their target price on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Finally, Bank of America increased their price objective on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.91.

WEX Stock Performance

Shares of NYSE:WEX opened at $189.79 on Thursday. The firm’s 50 day simple moving average is $195.44 and its 200 day simple moving average is $187.51. WEX Inc. has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 1.49 and a beta of 1.57. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04.

WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The company had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $688.03 million. During the same period last year, the firm posted $3.44 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts forecast that WEX Inc. will post 13.1 earnings per share for the current year.

Insider Buying and Selling at WEX

In other news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the transaction, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. This represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

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.