First Hawaiian Bank Sells 234 Shares of WEX Inc. (NYSE:WEX)

First Hawaiian Bank lessened its holdings in WEX Inc. (NYSE:WEX) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,933 shares of the business services provider’s stock after selling 234 shares during the period. First Hawaiian Bank’s holdings in WEX were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Venturi Wealth Management LLC increased its position in WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after buying an additional 101 shares during the period. Quarry LP increased its position in WEX by 717.4% during the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after buying an additional 165 shares during the period. Wilmington Savings Fund Society FSB bought a new position in WEX during the 3rd quarter worth $35,000. Covestor Ltd increased its position in WEX by 47.3% during the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after buying an additional 89 shares during the period. Finally, Brooklyn Investment Group bought a new position in WEX during the 3rd quarter worth $59,000. Institutional investors own 97.47% of the company’s stock.

Insider Activity

In related news, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction on Friday, November 29th. The shares were sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the transaction, the chief operating officer now owns 7,582 shares of the company’s stock, valued at $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WEX shares. Keefe, Bruyette & Woods lowered their price objective on WEX from $247.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Robert W. Baird decreased their price target on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Barclays restated an “equal weight” rating and issued a $200.00 price target (down previously from $207.00) on shares of WEX in a research report on Tuesday, December 17th. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company decreased their price target on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.73.

WEX Stock Performance

NYSE:WEX opened at $170.52 on Friday. The stock’s 50-day moving average is $178.84 and its 200-day moving average is $185.89. The stock has a market cap of $6.78 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 1.39 and a beta of 1.58. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.82 by $0.53. The firm had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.44 earnings per share. Equities research analysts anticipate that WEX Inc. will post 13.1 earnings per share for the current year.

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.