Mackenzie Financial Corp Lowers Position in WEX Inc. (NYSE:WEX)

Mackenzie Financial Corp lessened its holdings in WEX Inc. (NYSE:WEX) by 7.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,139 shares of the business services provider’s stock after selling 310 shares during the period. Mackenzie Financial Corp’s holdings in WEX were worth $805,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WEX. VisionPoint Advisory Group LLC raised its position 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 worth $27,000 after buying an additional 62 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in shares of WEX by 896.8% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the business services provider’s stock worth $58,000 after buying an additional 278 shares in the last quarter. Signaturefd LLC raised its position in shares of WEX by 131.4% in the third quarter. Signaturefd LLC now owns 516 shares of the business services provider’s stock worth $97,000 after buying an additional 293 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in WEX during the third quarter valued at about $110,000. Finally, Advisor Partners II LLC purchased a new stake in WEX during the third quarter valued at about $202,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WEX. StockNews.com downgraded WEX from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Jefferies Financial Group lifted their price objective on WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Robert W. Baird raised their target price on WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. TheStreet raised WEX from a “c” rating to a “b” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised their target price on WEX from $205.00 to $239.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $240.00.

WEX Price Performance

WEX stock opened at $215.07 on Friday. The firm has a 50 day moving average price of $230.87 and a 200-day moving average price of $203.50. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 34.91, a PEG ratio of 1.51 and a beta of 1.59. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.05.

WEX (NYSE:WEX) last released its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a net margin of 10.46% and a return on equity of 31.33%. The business had revenue of $663.30 million for the quarter, compared to analysts’ expectations of $656.75 million. Equities research analysts forecast that WEX Inc. will post 13.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jennifer Kimball sold 574 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.24, for a total value of $127,565.76. Following the completion of the transaction, the chief accounting officer now directly owns 1,297 shares in the company, valued at approximately $288,245.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Jennifer Kimball sold 574 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.24, for a total value of $127,565.76. Following the completion of the transaction, the chief accounting officer now directly owns 1,297 shares in the company, valued at approximately $288,245.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Sara Trickett sold 887 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $224.61, for a total transaction of $199,229.07. The disclosure for this sale can be found here. Insiders sold a total of 28,326 shares of company stock worth $6,281,961 in the last three months. Insiders own 1.10% of the company’s stock.

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.