Headlands Technologies LLC Decreases Stake in WEX Inc. (NYSE:WEX)

Headlands Technologies LLC reduced its stake in WEX Inc. (NYSE:WEX) by 8.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,143 shares of the business services provider’s stock after selling 100 shares during the quarter. Headlands Technologies LLC’s holdings in WEX were worth $222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. VisionPoint Advisory Group LLC increased its holdings in WEX by 74.7% in the 3rd 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 during the period. GAMMA Investing LLC acquired a new position in WEX in the 4th quarter worth approximately $27,000. Cary Street Partners Investment Advisory LLC increased its holdings in WEX by 896.8% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the business services provider’s stock worth $58,000 after buying an additional 278 shares during the period. CWM LLC increased its holdings in WEX by 15.6% in the 4th quarter. CWM LLC now owns 377 shares of the business services provider’s stock worth $73,000 after buying an additional 51 shares during the period. Finally, Signaturefd LLC increased its holdings in WEX by 131.4% in the 3rd quarter. Signaturefd LLC now owns 516 shares of the business services provider’s stock worth $97,000 after buying an additional 293 shares during the period. 97.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WEX shares. TheStreet upgraded shares of WEX from a “c” rating to a “b” rating in a report on Thursday, February 8th. Jefferies Financial Group increased their price target on shares of WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, April 12th. StockNews.com cut shares of WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Citigroup raised their price objective on shares of WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Mizuho raised their price objective on shares of WEX from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $240.00.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 309 shares of WEX stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the completion of the transaction, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Jennifer Kimball sold 574 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was 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 directly owns 1,297 shares of the company’s stock, valued at $288,245.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jagtar Narula sold 309 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the transaction, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at $1,289,350.72. The disclosure for this sale can be found here. Insiders sold a total of 28,326 shares of company stock valued at $6,281,961 in the last three months. 1.10% of the stock is owned by corporate insiders.

WEX Price Performance

WEX stock opened at $216.58 on Monday. The company’s fifty day moving average price is $230.59 and its 200 day moving average price is $203.96. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04. The stock has a market capitalization of $9.07 billion, a P/E ratio of 35.22, a P/E/G ratio of 1.40 and a beta of 1.59. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The firm had revenue of $663.30 million during the quarter, compared to analysts’ expectations of $656.75 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. As a group, equities research analysts anticipate that WEX Inc. will post 13.55 earnings per share for the current fiscal year.

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.