WEX Inc. (NYSE:WEX) Holdings Decreased by Pathstone Holdings LLC

Pathstone Holdings LLC reduced its holdings in WEX Inc. (NYSE:WEX) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,952 shares of the business services provider’s stock after selling 184 shares during the period. Pathstone Holdings LLC’s holdings in WEX were worth $1,668,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in WEX by 124.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 40,870 shares of the business services provider’s stock worth $8,572,000 after purchasing an additional 22,638 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted 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 acquiring an additional 48,182 shares during the last quarter. Swedbank AB bought a new stake in WEX in the second quarter worth approximately $6,253,000. Harbor Capital Advisors Inc. increased its stake in shares of WEX by 256.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 11,765 shares of the business services provider’s stock worth $2,084,000 after purchasing an additional 8,466 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of WEX during the 2nd quarter valued at $1,227,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on WEX. Wells Fargo & Company lowered their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Jefferies Financial Group increased their price target on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird decreased their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Bank of America lifted their target price on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $235.91.

Insider Activity

In other news, CFO Jagtar Narula sold 508 shares of the business’s 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

WEX Trading Up 2.1 %

WEX opened at $189.79 on Thursday. The company has a fifty day moving average price of $195.44 and a two-hundred day moving average price of $187.51. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04. The company has a market cap of $7.55 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 1.49 and a beta of 1.57. 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 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. 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 analysts’ expectations of $688.03 million. WEX’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.44 earnings per share. Analysts predict that WEX Inc. will post 13.1 EPS for the current fiscal year.

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.