WEX Inc. (NYSE:WEX) Holdings Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in shares of WEX Inc. (NYSE:WEX) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,124 shares of the business services provider’s stock after selling 586 shares during the quarter. Thrivent Financial for Lutherans’ holdings in WEX were worth $1,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP grew its stake in WEX by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after purchasing an additional 179,813 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in WEX by 13.3% in the first quarter. Westfield Capital Management Co. LP now owns 258,384 shares of the business services provider’s stock valued at $61,374,000 after purchasing an additional 30,306 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in WEX by 229.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,164 shares of the business services provider’s stock valued at $989,000 after purchasing an additional 2,901 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in WEX by 5.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock valued at $173,561,000 after purchasing an additional 48,182 shares in the last quarter. Finally, Sei Investments Co. grew its stake in WEX by 60.0% in the first quarter. Sei Investments Co. now owns 44,981 shares of the business services provider’s stock valued at $10,684,000 after purchasing an additional 16,860 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was 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 directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Melanie J. Tinto sold 1,564 shares of WEX stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total value of $289,402.56. Following the completion of the sale, the insider now directly owns 8,461 shares of the company’s stock, valued at approximately $1,565,623.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction 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 sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. The disclosure for this sale can be found here. Insiders sold 5,985 shares of company stock worth $1,094,907 in the last 90 days. 1.10% of the stock is owned by company insiders.

WEX Price Performance

WEX stock opened at $205.90 on Thursday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $8.46 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 1.24 and a beta of 1.54. WEX Inc. has a one year low of $161.95 and a one year high of $244.04. The business has a 50 day simple moving average of $188.32 and a 200 day simple moving average of $197.66.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. William Blair upgraded WEX to a “strong-buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. decreased their price target on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods decreased their price target on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Finally, Wells Fargo & Company decreased their price target on WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, July 26th. Six 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $239.58.

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.