SG Americas Securities LLC Decreases Position in WEX Inc. (NYSE:WEX)

SG Americas Securities LLC lessened its holdings in shares of WEX Inc. (NYSE:WEX) by 35.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,410 shares of the business services provider’s stock after selling 791 shares during the period. SG Americas Securities LLC’s holdings in WEX were worth $296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of WEX during the 2nd quarter valued at $33,000. Covestor Ltd increased its position in shares of WEX by 233.9% in the 1st 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 increased its position in shares of WEX by 717.4% in the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 165 shares during the period. Blue Trust Inc. increased its position in shares of WEX by 456.1% in the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 187 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in shares of WEX in the 1st quarter valued at $60,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analysts Set New Price Targets

WEX has been the topic of several research reports. Wells Fargo & Company cut their target price 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 increased their price target on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. cut their price target on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. William Blair raised WEX to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods cut their price target on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Six research 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, WEX currently has an average rating of “Moderate Buy” and an average price target of $238.33.

WEX Trading Up 1.4 %

Shares of WEX stock opened at $216.62 on Friday. The firm has a market capitalization of $9.08 billion, a PE ratio of 35.22, a P/E/G ratio of 1.28 and a beta of 1.55. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04. The firm’s 50-day moving average price is $197.36 and its 200 day moving average price is $195.69. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.09. The firm had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. On average, sell-side analysts predict that WEX Inc. will post 13.75 EPS for the current fiscal year.

Insider Activity at WEX

In other WEX news, insider Melanie J. Tinto sold 1,564 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total value of $289,402.56. Following the transaction, the insider now directly owns 8,461 shares of the company’s stock, valued at $1,565,623.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other WEX news, 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 value of $204,166.86. Following the transaction, the insider now directly owns 5,584 shares of the company’s stock, valued at $964,524.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Melanie J. Tinto sold 1,564 shares of WEX stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total transaction of $289,402.56. Following the sale, the insider now directly owns 8,461 shares in the company, valued at approximately $1,565,623.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,905 shares of company stock valued at $895,107. 1.10% of the stock is owned by corporate insiders.

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.