Maryland State Retirement & Pension System Sells 264 Shares of WEX Inc. $WEX

Maryland State Retirement & Pension System lessened its stake in shares of WEX Inc. (NYSE:WEX) by 12.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,852 shares of the business services provider’s stock after selling 264 shares during the period. Maryland State Retirement & Pension System’s holdings in WEX were worth $291,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WEX. Isthmus Partners LLC increased its stake in shares of WEX by 5.4% in the 1st quarter. Isthmus Partners LLC now owns 1,987 shares of the business services provider’s stock valued at $312,000 after purchasing an additional 101 shares during the last quarter. Cornerstone Investment Partners LLC increased its stake in shares of WEX by 2.9% in the 1st quarter. Cornerstone Investment Partners LLC now owns 4,705 shares of the business services provider’s stock valued at $739,000 after purchasing an additional 133 shares during the last quarter. Foyston Gordon & Payne Inc increased its stake in shares of WEX by 0.7% in the 4th quarter. Foyston Gordon & Payne Inc now owns 19,657 shares of the business services provider’s stock valued at $3,446,000 after purchasing an additional 137 shares during the last quarter. Investment Management Corp VA ADV bought a new position in shares of WEX in the 4th quarter valued at $25,000. Finally, EP Wealth Advisors LLC increased its stake in shares of WEX by 13.2% in the 4th quarter. EP Wealth Advisors LLC now owns 1,356 shares of the business services provider’s stock valued at $238,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WEX shares. Jefferies Financial Group lifted their price target on WEX from $130.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, May 27th. Wells Fargo & Company cut their price objective on WEX from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft assumed coverage on WEX in a report on Thursday, July 17th. They set a “hold” rating and a $150.00 price objective on the stock. Morgan Stanley raised their price objective on WEX from $142.00 to $170.00 and gave the company an “equal weight” rating in a report on Friday, July 25th. Finally, Mizuho raised their price objective on WEX from $150.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, WEX currently has a consensus rating of “Hold” and a consensus target price of $181.50.

WEX Stock Down 1.0%

Shares of WEX opened at $172.64 on Tuesday. The company has a market capitalization of $5.91 billion, a PE ratio of 21.83, a PEG ratio of 1.63 and a beta of 1.28. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $217.47. The stock’s 50-day moving average price is $156.69 and its two-hundred day moving average price is $147.59. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99.

Insider Buying and Selling

In other news, CAO Jennifer Kimball sold 1,400 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $131.08, for a total value of $183,512.00. Following the transaction, the chief accounting officer directly owned 3,177 shares of the company’s stock, valued at $416,441.16. The trade was a 30.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Melissa D. Smith acquired 3,721 shares of the company’s stock in a transaction dated Thursday, May 29th. The stock was acquired 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 directly owned 101,182 shares in the company, valued at $13,616,061.74. This trade represents a 3.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 4,206 shares of company stock valued at $665,265 over the last 90 days. 1.40% of the stock is owned by corporate insiders.

WEX 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.