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

Walleye Capital LLC lowered its position in WEX Inc. (NYSE:WEX) by 60.6% in the third quarter, HoldingsChannel reports. The fund owned 22,049 shares of the business services provider’s stock after selling 33,967 shares during the quarter. Walleye Capital LLC’s holdings in WEX were worth $4,624,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Cetera Investment Advisers lifted its position in shares of WEX by 856.0% in the first quarter. Cetera Investment Advisers now owns 13,289 shares of the business services provider’s stock valued at $3,157,000 after acquiring an additional 11,899 shares in the last quarter. Cetera Advisors LLC purchased a new position in WEX during the first quarter worth about $327,000. Trust Co. of Vermont acquired a new stake in shares of WEX during the second quarter valued at about $94,000. Harbor Capital Advisors Inc. raised its stake in shares of WEX by 256.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 11,765 shares of the business services provider’s stock valued at $2,084,000 after acquiring an additional 8,466 shares during the period. Finally, CWM LLC lifted its holdings in shares of WEX by 37.3% in the 2nd quarter. CWM LLC now owns 453 shares of the business services provider’s stock worth $80,000 after acquiring an additional 123 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Trading Down 0.6 %

Shares of NYSE:WEX opened at $188.66 on Monday. WEX Inc. has a 52 week low of $165.51 and a 52 week high of $244.04. The company’s 50 day moving average is $194.50 and its two-hundred day moving average is $187.20. The company has a market cap of $7.50 billion, a PE ratio of 23.94, a P/E/G 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 posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. The company had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. WEX’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $3.44 earnings per share. Equities analysts predict that WEX Inc. will post 13.1 earnings per share for the current fiscal year.

Insider Transactions at WEX

In related news, CFO Jagtar Narula sold 508 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This trade represents a 6.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WEX shares. Wells Fargo & Company dropped their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Wolfe Research downgraded WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Bank of America increased their target price on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird dropped their target price on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Jefferies Financial Group increased their price target on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $235.91.

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.