WEX Inc. (NYSE:WEX) Shares Sold by Versor Investments LP

Versor Investments LP decreased its holdings in shares of WEX Inc. (NYSE:WEX) by 59.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,184 shares of the business services provider’s stock after selling 3,200 shares during the period. Versor Investments LP’s holdings in WEX were worth $458,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its position in WEX by 206.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after buying an additional 101 shares during the last quarter. International Assets Investment Management LLC acquired a new position in WEX in the second quarter valued at approximately $33,000. Covestor Ltd boosted its holdings in shares of WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 131 shares during the period. Quarry LP grew its position in WEX by 717.4% in the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after purchasing an additional 165 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in WEX by 456.1% in the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after buying an additional 187 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Performance

NYSE:WEX opened at $180.91 on Friday. WEX Inc. has a 52-week low of $165.51 and a 52-week high of $244.04. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 1.42 and a beta of 1.57. The firm’s 50-day moving average is $197.48 and its 200-day moving average is $189.43.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. During the same period in the prior year, the company posted $3.44 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that WEX Inc. will post 13.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Robert Joseph Deshaies sold 1,651 shares of WEX stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the transaction, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at $1,409,214.19. The trade was a 17.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. The trade was a 6.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

WEX has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced 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. Bank of America increased their price objective on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company dropped their target price on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Robert W. Baird decreased their price target on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Jefferies Financial Group boosted their price objective on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Six investment 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.91.

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.