WEX Inc. (NYSE:WEX) Holdings Trimmed by Arizona State Retirement System

Arizona State Retirement System trimmed its position in shares of WEX Inc. (NYSE:WEX) by 1.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,008 shares of the business services provider’s stock after selling 190 shares during the period. Arizona State Retirement System’s holdings in WEX were worth $2,336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WEX. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of WEX by 111.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider’s stock valued at $170,000 after acquiring an additional 500 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of WEX by 8.1% during the 1st quarter. Bank of Montreal Can now owns 4,181 shares of the business services provider’s stock valued at $732,000 after acquiring an additional 315 shares in the last quarter. BlackRock Inc. grew its holdings in shares of WEX by 1.2% during the 1st quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock valued at $732,950,000 after acquiring an additional 49,480 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of WEX by 8.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 24,375 shares of the business services provider’s stock valued at $4,471,000 after acquiring an additional 1,824 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of WEX by 38.3% during the 1st quarter. Sei Investments Co. now owns 21,260 shares of the business services provider’s stock valued at $3,793,000 after acquiring an additional 5,884 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on WEX. StockNews.com cut shares of WEX from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Truist Financial lifted their price objective on shares of WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. lifted their price objective on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Evercore ISI lifted their price objective on shares of WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, Barclays lifted their price objective on shares of WEX from $240.00 to $255.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.77.

Insider Activity

In other news, CAO Jennifer Kimball sold 574 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $222.24, for a total transaction of $127,565.76. Following the completion of the transaction, the chief accounting officer now owns 1,297 shares of the company’s stock, valued at $288,245.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Jennifer Kimball sold 574 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $222.24, for a total transaction of $127,565.76. Following the completion of the transaction, the chief accounting officer now owns 1,297 shares of the company’s stock, valued at $288,245.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total transaction of $72,071.16. Following the completion of the sale, the chief financial officer now directly owns 5,528 shares in the company, valued at approximately $1,289,350.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,433 shares of company stock valued at $14,708,896. Insiders own 1.10% of the company’s stock.

WEX Stock Up 0.3 %

WEX stock opened at $240.59 on Thursday. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of 39.06, a P/E/G ratio of 1.56 and a beta of 1.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The firm has a fifty day moving average price of $225.68 and a two-hundred day moving average price of $200.38.

WEX (NYSE:WEX) last released its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The firm had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. As a group, analysts forecast that WEX Inc. will post 13.51 earnings per share for the current year.

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.