WEX Inc. (NYSE:WEX) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC cut its stake in WEX Inc. (NYSE:WEX) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,317 shares of the business services provider’s stock after selling 374 shares during the period. Procyon Advisors LLC’s holdings in WEX were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. American Century Companies Inc. raised its holdings in shares of WEX by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock worth $1,847,000 after acquiring an additional 68 shares during the period. Envestnet Asset Management Inc. boosted its holdings in WEX by 1.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 50,370 shares of the business services provider’s stock valued at $8,922,000 after purchasing an additional 603 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of WEX by 34.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock valued at $87,772,000 after buying an additional 126,663 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of WEX by 8.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,292 shares of the business services provider’s stock worth $229,000 after buying an additional 102 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of WEX by 1,823.3% during the 2nd quarter. Hsbc Holdings PLC now owns 28,945 shares of the business services provider’s stock valued at $5,128,000 after buying an additional 27,440 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Insiders Place Their Bets

In other news, COO Robert Joseph Deshaies sold 175 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the sale, the chief operating officer now owns 7,582 shares in the company, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Jefferies Financial Group raised their target price on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. 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 dropped their price target on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Bank of America upped their price objective on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company cut their target price on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $219.55.

WEX Stock Up 0.4 %

Shares of NYSE:WEX opened at $184.40 on Friday. The firm’s 50 day moving average price is $178.78 and its 200 day moving average price is $186.07. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 1.23 and a beta of 1.58. WEX Inc. has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87.

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, beating analysts’ consensus estimates of $3.82 by $0.53. The business had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $3.44 EPS. As a group, equities research analysts predict that WEX Inc. will post 13.09 earnings per share for the current fiscal year.

WEX Company Profile

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.