Two Sigma Investments LP Has $215,000 Position in WEX Inc. (NYSE:WEX)

Two Sigma Investments LP cut its position in WEX Inc. (NYSE:WEX) by 92.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,227 shares of the business services provider’s stock after selling 15,193 shares during the quarter. Two Sigma Investments LP’s holdings in WEX were worth $215,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WEX. State of Wyoming acquired a new position in shares of WEX in the 4th quarter valued at approximately $35,000. Jones Financial Companies Lllp raised its position in shares of WEX by 108.4% in the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after buying an additional 129 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of WEX by 72.2% in the 4th quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider’s stock valued at $48,000 after buying an additional 114 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of WEX by 25.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after buying an additional 66 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in WEX during the 4th quarter worth approximately $74,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WEX shares. Robert W. Baird set a $186.00 price objective on shares of WEX in a research report on Tuesday, February 18th. Oppenheimer started coverage on shares of WEX in a research report on Thursday, May 15th. They set a “market perform” rating for the company. UBS Group lowered their price objective on shares of WEX from $172.00 to $138.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Jefferies Financial Group upped their price objective on shares of WEX from $130.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, May 27th. Finally, Wells Fargo & Company lowered their price objective on shares of WEX from $160.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, WEX has an average rating of “Hold” and a consensus price target of $176.90.

Insider Activity

In related news, CAO Jennifer Kimball sold 1,400 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $131.08, for a total transaction of $183,512.00. Following the transaction, the chief accounting officer now directly owns 3,177 shares of the company’s stock, valued at $416,441.16. This represents a 30.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Melissa D. Smith bought 3,721 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The shares were bought at an average cost of $134.57 per share, for a total transaction of $500,734.97. Following the completion of the purchase, the chief executive officer now owns 101,182 shares of the company’s stock, valued at $13,616,061.74. This represents a 3.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

WEX Trading Down 1.0%

Shares of NYSE WEX opened at $140.66 on Thursday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $217.47. The firm has a 50 day moving average price of $130.48 and a two-hundred day moving average price of $155.30. The stock has a market cap of $4.82 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22.

WEX (NYSE:WEX) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.11. WEX had a net margin of 11.78% and a return on equity of 32.35%. The firm had revenue of $636.60 million during the quarter, compared to analysts’ expectations of $631.42 million. During the same period in the prior year, the company posted $3.46 EPS. The company’s revenue was down 2.5% on a year-over-year basis. As a group, equities analysts forecast that WEX Inc. will post 14.09 EPS for the current 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.