US Bancorp DE Cuts Stock Position in WEX Inc. (NYSE:WEX)

US Bancorp DE decreased its holdings in shares of WEX Inc. (NYSE:WEX) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,840 shares of the business services provider’s stock after selling 65 shares during the quarter. US Bancorp DE’s holdings in WEX were worth $596,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WEX. Norden Group LLC purchased a new stake in shares of WEX during the 1st quarter valued at about $279,000. Envestnet Portfolio Solutions Inc. raised its position in WEX by 15.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,253 shares of the business services provider’s stock valued at $535,000 after purchasing an additional 299 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of WEX by 229.7% in the 1st 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 during the last quarter. Sei Investments Co. boosted its holdings in shares of WEX by 60.0% in the 1st quarter. Sei Investments Co. now owns 44,981 shares of the business services provider’s stock worth $10,684,000 after purchasing an additional 16,860 shares during the period. Finally, Inspire Advisors LLC bought a new position in shares of WEX during the 1st quarter valued at approximately $232,000. Institutional investors own 97.47% of the company’s stock.

Analyst Ratings Changes

WEX has been the subject of several recent analyst reports. Robert W. Baird dropped their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. William Blair raised shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Jefferies Financial Group increased their price objective on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Bank of America boosted their target price on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Wolfe Research downgraded WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, WEX has an average rating of “Moderate Buy” and an average price target of $235.91.

WEX Trading Up 0.1 %

NYSE WEX opened at $184.06 on Monday. WEX Inc. has a one year low of $165.51 and a one year 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 capitalization of $7.32 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.45 and a beta of 1.57. The company’s 50-day simple moving average is $198.08 and its two-hundred day simple moving average is $190.03.

WEX (NYSE:WEX) last announced its 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 business had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The business’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 EPS. Equities analysts forecast that WEX Inc. will post 13.2 EPS for the current fiscal year.

Insider Buying and Selling at WEX

In other WEX news, COO Robert Joseph Deshaies sold 1,651 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction that occurred 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 in the company, valued at $1,424,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert Joseph Deshaies sold 1,651 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the transaction, the chief operating officer now owns 7,757 shares in the company, valued at $1,409,214.19. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

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.