WEX Inc. (NYSE:WEX) Shares Sold by Tidal Investments LLC

Tidal Investments LLC reduced its position in WEX Inc. (NYSE:WEX) by 32.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,600 shares of the business services provider’s stock after selling 1,726 shares during the quarter. Tidal Investments LLC’s holdings in WEX were worth $755,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC boosted its position in WEX by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock worth $873,251,000 after purchasing an additional 25,365 shares during the period. FMR LLC boosted its position in shares of WEX by 8.8% in the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock worth $326,237,000 after buying an additional 125,262 shares during the period. State Street Corp grew its stake in shares of WEX by 0.3% in the third quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock valued at $260,265,000 after buying an additional 3,882 shares in the last quarter. River Road Asset Management LLC raised its holdings in shares of WEX by 5.0% during the 3rd quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock valued at $151,103,000 after buying an additional 34,264 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in WEX by 34.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock worth $87,772,000 after acquiring an additional 126,663 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

Shares of WEX opened at $169.39 on Friday. The stock has a market capitalization of $6.74 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.57. The business’s fifty day moving average price is $185.38 and its 200 day moving average price is $186.05. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. WEX Inc. has a 12-month low of $165.51 and a 12-month high of $244.04.

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

Insider Buying and Selling at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WEX shares. Wells Fargo & Company dropped their price objective on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Robert W. Baird lowered their target price on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Bank of America increased their price target on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group lifted their price objective on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, WEX has a consensus rating of “Moderate Buy” and an average price target of $228.64.

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.