Goldman Sachs Group Inc. Decreases Holdings in WEX Inc. (NYSE:WEX)

Goldman Sachs Group Inc. lessened its stake in shares of WEX Inc. (NYSE:WEX) by 13.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 222,338 shares of the business services provider’s stock after selling 35,590 shares during the period. Goldman Sachs Group Inc. owned about 0.53% of WEX worth $43,256,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WEX. UBS Group AG increased its stake in shares of WEX by 46.9% in the third quarter. UBS Group AG now owns 36,619 shares of the business services provider’s stock worth $6,888,000 after purchasing an additional 11,690 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of WEX by 3.1% in the third quarter. PNC Financial Services Group Inc. now owns 7,724 shares of the business services provider’s stock worth $1,453,000 after purchasing an additional 230 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of WEX in the third quarter worth about $418,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of WEX in the third quarter worth about $364,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of WEX by 182.7% in the third quarter. Envestnet Asset Management Inc. now owns 44,585 shares of the business services provider’s stock worth $8,386,000 after purchasing an additional 28,813 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Trading Up 0.3 %

Shares of WEX stock opened at $169.97 on Friday. The firm has a market cap of $7.12 billion, a PE ratio of 27.64, a PEG ratio of 0.98 and a beta of 1.56. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.06 and a quick ratio of 1.06. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04. The company has a 50 day simple moving average of $199.99 and a two-hundred day simple moving average of $207.59.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.15. The firm had revenue of $652.70 million during the quarter, compared to analyst estimates of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. Analysts expect that WEX Inc. will post 13.95 earnings per share for the current fiscal year.

Insider Transactions at WEX

In other news, SVP Sara Trickett sold 734 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total value of $154,455.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Sara Trickett sold 734 shares of WEX stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total value of $154,455.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Robert Joseph Deshaies sold 1,897 shares of WEX stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.01, for a total transaction of $400,285.97. Following the completion of the transaction, the chief operating officer now directly owns 9,408 shares in the company, valued at $1,985,182.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,831 shares of company stock worth $808,602. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WEX has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Jefferies Financial Group raised their price objective on shares of WEX from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Wells Fargo & Company initiated coverage on shares of WEX in a research report on Wednesday, June 5th. They issued an “equal weight” rating and a $200.00 price objective for the company. Barclays raised their price objective on shares of WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, StockNews.com lowered shares of WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, WEX presently has a consensus rating of “Hold” and an average price target of $237.14.

About WEX

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.