Handelsinvest Investeringsforvaltning Sells 628 Shares of WEX Inc. (NYSE:WEX)

Handelsinvest Investeringsforvaltning reduced its stake in WEX Inc. (NYSE:WEX) by 34.2% during the first quarter, Holdings Channel.com reports. The fund owned 1,208 shares of the business services provider’s stock after selling 628 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in WEX were worth $287,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. VisionPoint Advisory Group LLC boosted its holdings in shares of WEX by 74.7% in the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 62 shares during the period. GAMMA Investing LLC bought a new stake in WEX during the 4th quarter valued at $27,000. Rise Advisors LLC purchased a new stake in shares of WEX in the 1st quarter worth $29,000. Principal Securities Inc. purchased a new position in shares of WEX during the fourth quarter valued at $31,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of WEX during the fourth quarter valued at $62,000. 97.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WEX has been the topic of several recent research reports. Robert W. Baird increased their target price on shares of WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. StockNews.com downgraded shares of WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Evercore ISI boosted their price objective on shares of WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Jefferies Financial Group upped their target price on WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Finally, Barclays lifted their price target on WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $237.14.

Insider Activity at WEX

In other news, CAO Jennifer Kimball sold 1,200 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total value of $253,860.00. Following the transaction, the chief accounting officer now directly owns 1,909 shares of the company’s stock, valued at $403,848.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Jennifer Kimball sold 1,200 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $211.55, for a total value of $253,860.00. Following the sale, the chief accounting officer now owns 1,909 shares in the company, valued at $403,848.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert Joseph Deshaies sold 1,897 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.01, for a total transaction of $400,285.97. Following the transaction, the chief operating officer now directly owns 9,408 shares of the company’s stock, valued at approximately $1,985,182.08. The disclosure for this sale can be found here. Insiders have sold a total of 3,831 shares of company stock valued at $808,602 in the last ninety days. Company insiders own 1.10% of the company’s stock.

WEX Stock Up 0.3 %

Shares of WEX traded up $0.48 during mid-day trading on Wednesday, hitting $179.47. 15,164 shares of the company traded hands, compared to its average volume of 323,765. The company has a market capitalization of $7.52 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 1.03 and a beta of 1.55. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.73. The business has a 50 day moving average of $190.96 and a 200 day moving average of $207.60. WEX Inc. has a 1-year low of $161.95 and a 1-year high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.15. The business had revenue of $652.70 million for the quarter, compared to analyst estimates of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. Equities research analysts anticipate that WEX Inc. will post 13.95 EPS for the current 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.