Cwm LLC Sells 129 Shares of WEX Inc. (NYSE:WEX)

Cwm LLC cut its stake in shares of WEX Inc. (NYSE:WEX) by 28.5% during the 3rd quarter, Holdings Channel reports. The fund owned 324 shares of the business services provider’s stock after selling 129 shares during the period. Cwm LLC’s holdings in WEX were worth $68,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in WEX during the second quarter worth $33,000. Quarry LP lifted its stake in shares of WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after buying an additional 165 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after buying an additional 187 shares in the last quarter. Covestor Ltd lifted its stake in shares of WEX by 233.9% in the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after buying an additional 131 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in shares of WEX in the first quarter valued at $60,000. 97.47% of the stock is owned by institutional investors.

WEX Stock Performance

NYSE WEX opened at $178.85 on Monday. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04. The company has a 50-day simple moving average of $199.68 and a 200 day simple moving average of $193.95. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $7.49 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.09. WEX had a net margin of 9.32% and a return on equity of 31.05%. The business had revenue of $673.50 million during the quarter, compared to the consensus estimate of $677.44 million. On average, research analysts predict that WEX Inc. will post 13.68 EPS for the current year.

Insider Transactions at WEX

In other news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Jagtar Narula sold 508 shares of the firm’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 directly owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ann Elena Drew sold 1,182 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the completion of the transaction, the insider now owns 5,584 shares of the company’s stock, valued at $964,524.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,905 shares of company stock worth $895,107 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. William Blair raised shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Bank of America raised their price objective on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods dropped their price objective on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Jefferies Financial Group raised their price target on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company dropped 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 report on Friday. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

WEX 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.