WEX Inc. (NYSE:WEX) Stock Holdings Lessened by Panagora Asset Management Inc.

Panagora Asset Management Inc. lessened its holdings in shares of WEX Inc. (NYSE:WEX) by 98.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,284 shares of the business services provider’s stock after selling 111,725 shares during the period. Panagora Asset Management Inc.’s holdings in WEX were worth $405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of WEX by 19,044.7% during the 4th quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock worth $7,002,000 after purchasing an additional 35,804 shares during the period. CWM LLC grew its stake in WEX by 15.6% during the 4th quarter. CWM LLC now owns 377 shares of the business services provider’s stock worth $73,000 after buying an additional 51 shares during the last quarter. GAMMA Investing LLC acquired a new stake in WEX in the fourth quarter worth $27,000. Victory Capital Management Inc. lifted its stake in WEX by 19.4% in the fourth quarter. Victory Capital Management Inc. now owns 9,242 shares of the business services provider’s stock valued at $1,798,000 after buying an additional 1,500 shares during the last quarter. Finally, New York Life Investment Management LLC boosted its holdings in shares of WEX by 7.8% during the fourth quarter. New York Life Investment Management LLC now owns 4,898 shares of the business services provider’s stock valued at $953,000 after acquiring an additional 355 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WEX. Keefe, Bruyette & Woods cut their price objective on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. JPMorgan Chase & Co. cut their price target on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. William Blair raised WEX to a “strong-buy” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company cut their target price on WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $239.58.

Insider Transactions at WEX

In other news, CFO Jagtar Narula sold 540 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $190.00, for a total value of $102,600.00. Following the completion of the sale, the chief financial officer now owns 7,628 shares in the company, valued at $1,449,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Jagtar Narula sold 540 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $190.00, for a total value of $102,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,628 shares of the company’s stock, valued at $1,449,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the transaction, the insider now directly owns 5,584 shares in the company, valued at $964,524.32. The disclosure for this sale can be found here. Insiders have sold a total of 5,477 shares of company stock valued at $993,307 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

WEX Trading Down 1.3 %

Shares of WEX stock opened at $188.56 on Wednesday. The stock has a 50-day simple moving average of $180.50 and a 200 day simple moving average of $201.11. The stock has a market capitalization of $7.90 billion, a P/E ratio of 30.66, a P/E/G ratio of 1.14 and a beta of 1.54. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.09. The company had revenue of $673.50 million during the quarter, compared to analyst estimates of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. On average, sell-side analysts expect that WEX Inc. will post 13.75 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.