WEX Inc. (NYSE:WEX) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its position in shares of WEX Inc. (NYSE:WEX) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 693,297 shares of the business services provider’s stock after selling 5,503 shares during the quarter. Geode Capital Management LLC’s holdings in WEX were worth $145,443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Foyston Gordon & Payne Inc boosted its position in WEX by 878.0% during the third quarter. Foyston Gordon & Payne Inc now owns 19,520 shares of the business services provider’s stock worth $4,094,000 after purchasing an additional 17,524 shares in the last quarter. Bullseye Asset Management LLC raised its stake in shares of WEX by 29.9% during the 3rd quarter. Bullseye Asset Management LLC now owns 10,875 shares of the business services provider’s stock worth $2,281,000 after buying an additional 2,500 shares during the last quarter. Barclays PLC raised its stake in shares of WEX by 38.4% during the 3rd quarter. Barclays PLC now owns 21,535 shares of the business services provider’s stock worth $4,516,000 after buying an additional 5,972 shares during the last quarter. XTX Topco Ltd boosted its position in shares of WEX by 958.2% in the 3rd quarter. XTX Topco Ltd now owns 13,344 shares of the business services provider’s stock worth $2,799,000 after buying an additional 12,083 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in WEX in the 3rd quarter valued at about $251,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analyst Ratings Changes

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

WEX Stock Performance

NYSE WEX opened at $177.19 on Tuesday. The business’s 50-day moving average price is $188.70 and its 200 day moving average price is $186.48. 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 Inc. has a twelve month low of $165.51 and a twelve month high of $244.04. The company has a market capitalization of $7.05 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.39 and a beta of 1.57.

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

Insider Buying and Selling at WEX

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

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.