Xponance Inc. Sells 400 Shares of WEX Inc. (NYSE:WEX)

Xponance Inc. decreased its stake in shares of WEX Inc. (NYSE:WEX) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,002 shares of the business services provider’s stock after selling 400 shares during the quarter. Xponance Inc.’s holdings in WEX were worth $1,362,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WEX. Federated Hermes Inc. raised its position in shares of WEX by 8.4% in the 4th quarter. Federated Hermes Inc. now owns 372,006 shares of the business services provider’s stock worth $72,374,000 after purchasing an additional 28,782 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in WEX by 11.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,197 shares of the business services provider’s stock valued at $1,789,000 after purchasing an additional 978 shares in the last quarter. Strs Ohio raised its holdings in WEX by 18.5% in the fourth quarter. Strs Ohio now owns 7,113 shares of the business services provider’s stock worth $1,383,000 after buying an additional 1,110 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of WEX during the fourth quarter valued at approximately $2,335,000. Finally, WCM Investment Management LLC increased its position in shares of WEX by 6.9% during the fourth quarter. WCM Investment Management LLC now owns 108,123 shares of the business services provider’s stock valued at $21,245,000 after acquiring an additional 6,992 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

Insider Buying and Selling at WEX

In other news, SVP Sara Trickett sold 887 shares of WEX stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other WEX news, SVP Sara Trickett sold 887 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Hilary A. Rapkin sold 5,800 shares of WEX stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $222.55, for a total value of $1,290,790.00. Following the completion of the sale, the insider now directly owns 10,569 shares in the company, valued at approximately $2,352,130.95. The disclosure for this sale can be found here. Insiders sold 28,326 shares of company stock valued at $6,281,961 in the last 90 days. Insiders own 1.10% of the company’s stock.

WEX Stock Down 0.3 %

Shares of WEX opened at $233.31 on Thursday. WEX Inc. has a 12-month low of $161.95 and a 12-month high of $244.04. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $9.74 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 1.51 and a beta of 1.59. The business’s 50 day moving average is $230.52 and its 200 day moving average is $203.29.

WEX (NYSE:WEX) last released its quarterly earnings data 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). The company had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. Research analysts expect that WEX Inc. will post 13.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WEX has been the topic of several analyst reports. TheStreet raised WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Mizuho upped their price target on WEX from $225.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Robert W. Baird lifted their price objective on WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. StockNews.com cut shares of WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Finally, Truist Financial raised their price target on shares of WEX from $185.00 to $220.00 and gave the company a “hold” rating in a report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $240.00.

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.