US Bancorp DE Decreases Stock Position in WEX Inc. (NYSE:WEX)

US Bancorp DE reduced its stake in WEX Inc. (NYSE:WEX) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,840 shares of the business services provider’s stock after selling 65 shares during the period. US Bancorp DE’s holdings in WEX were worth $596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WEX. Norden Group LLC purchased a new stake in WEX during the 1st quarter valued at $279,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of WEX by 15.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,253 shares of the business services provider’s stock worth $535,000 after purchasing an additional 299 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of WEX by 229.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,164 shares of the business services provider’s stock worth $989,000 after purchasing an additional 2,901 shares during the last quarter. Sei Investments Co. increased its holdings in WEX by 60.0% during the 1st quarter. Sei Investments Co. now owns 44,981 shares of the business services provider’s stock valued at $10,684,000 after purchasing an additional 16,860 shares during the period. Finally, Inspire Advisors LLC bought a new position in WEX during the 1st quarter valued at approximately $232,000. Institutional investors own 97.47% of the company’s stock.

Insider Buying and Selling

In other WEX news, CFO Jagtar Narula sold 508 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other WEX news, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the transaction, the chief operating officer now owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

WEX Trading Up 0.1 %

NYSE WEX opened at $184.06 on Monday. WEX Inc. has a 12 month low of $165.51 and a 12 month high of $244.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The stock’s fifty day moving average price is $198.08 and its 200-day moving average price is $190.03. The stock has a market cap of $7.32 billion, a P/E ratio of 23.36, a P/E/G ratio of 1.45 and a beta of 1.57.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $3.82 by $0.53. The company had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. WEX’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.44 EPS. As a group, equities analysts forecast that WEX Inc. will post 13.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WEX has been the topic of several research analyst reports. William Blair raised WEX to a “strong-buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. dropped their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. 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 lowered their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Bank of America upped their target price on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.91.

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.