State of New Jersey Common Pension Fund D Trims Stock Holdings in WEX Inc. (NYSE:WEX)

State of New Jersey Common Pension Fund D lowered its position in shares of WEX Inc. (NYSE:WEXGet Rating) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,084 shares of the business services provider’s stock after selling 968 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of WEX worth $3,184,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Comerica Bank grew its stake in WEX by 22.8% during the third quarter. Comerica Bank now owns 25,302 shares of the business services provider’s stock valued at $3,639,000 after acquiring an additional 4,701 shares in the last quarter. CWM LLC grew its stake in WEX by 99.2% during the third quarter. CWM LLC now owns 265 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 132 shares in the last quarter. Strs Ohio grew its stake in WEX by 23.9% during the third quarter. Strs Ohio now owns 7,226 shares of the business services provider’s stock valued at $917,000 after acquiring an additional 1,395 shares in the last quarter. Martin & Co. Inc. TN grew its stake in WEX by 2.9% during the third quarter. Martin & Co. Inc. TN now owns 17,243 shares of the business services provider’s stock valued at $2,189,000 after acquiring an additional 480 shares in the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in WEX during the third quarter valued at approximately $271,000. Hedge funds and other institutional investors own 98.65% of the company’s stock.

WEX Stock Down 0.4 %

Shares of NYSE WEX opened at $176.54 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.62. WEX Inc. has a 52 week low of $125.00 and a 52 week high of $183.38. The firm’s fifty day moving average is $163.43 and its 200 day moving average is $157.37. The company has a market cap of $7.70 billion, a price-to-earnings ratio of 79.88, a PEG ratio of 0.73 and a beta of 1.59.

WEX (NYSE:WEXGet Rating) last issued its earnings results on Thursday, October 27th. The business services provider reported $3.01 EPS for the quarter, missing the consensus estimate of $3.12 by ($0.11). WEX had a return on equity of 27.73% and a net margin of 4.53%. The firm had revenue of $616.13 million during the quarter, compared to analysts’ expectations of $590.54 million. On average, equities research analysts expect that WEX Inc. will post 11.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

WEX has been the subject of several recent analyst reports. StockNews.com started coverage on shares of WEX in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley lifted their target price on shares of WEX from $148.00 to $157.00 and gave the company an “equal weight” rating in a research report on Friday, October 28th. Wells Fargo & Company lifted their target price on shares of WEX from $185.00 to $193.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. Keefe, Bruyette & Woods dropped their target price on shares of WEX from $226.00 to $185.00 in a research report on Monday, October 10th. Finally, Mizuho dropped their target price on shares of WEX from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, November 14th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, WEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.08.

Insider Buying and Selling

In other news, Director James R. Groch bought 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The shares were bought at an average cost of $151.25 per share, with a total value of $211,750.00. Following the completion of the purchase, the director now directly owns 8,465 shares in the company, valued at $1,280,331.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other WEX news, insider Hilary A. Rapkin sold 6,156 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $165.19, for a total transaction of $1,016,909.64. Following the transaction, the insider now directly owns 12,328 shares of the company’s stock, valued at approximately $2,036,462.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Groch acquired 1,400 shares of WEX stock in a transaction on Thursday, November 3rd. The shares were bought at an average cost of $151.25 per share, for a total transaction of $211,750.00. Following the completion of the transaction, the director now owns 8,465 shares in the company, valued at approximately $1,280,331.25. The disclosure for this purchase can be found here. Insiders have sold a total of 12,426 shares of company stock valued at $2,102,480 over the last three months. 1.00% of the stock is owned by company insiders.

WEX Company Profile

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WEX Inc provides financial technology services in the United States and internationally. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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