Quadrature Capital Ltd Reduces Position in WEX Inc. (NYSE:WEX)

Quadrature Capital Ltd cut its holdings in shares of WEX Inc. (NYSE:WEX) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,104 shares of the business services provider’s stock after selling 458 shares during the period. Quadrature Capital Ltd’s holdings in WEX were worth $993,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP boosted its position in WEX by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after purchasing an additional 179,813 shares during the last quarter. Kodai Capital Management LP purchased a new position in WEX in the fourth quarter worth about $49,750,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in WEX in the fourth quarter worth about $3,617,000. International Assets Investment Management LLC boosted its position in WEX by 19,044.7% in the fourth quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock worth $7,002,000 after purchasing an additional 35,804 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in WEX by 2.7% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock worth $177,076,000 after purchasing an additional 22,865 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WEX shares. Evercore ISI raised their target price on WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Citigroup raised their target price on WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. StockNews.com downgraded WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Barclays raised their price objective on WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group raised their price objective on WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $237.14.

WEX Stock Up 0.3 %

Shares of WEX opened at $169.97 on Friday. The business’s 50 day moving average is $199.99 and its 200 day moving average is $207.59. The company has a market capitalization of $7.12 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 0.98 and a beta of 1.56. WEX Inc. has a 12-month low of $161.95 and a 12-month high of $244.04. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.73.

WEX (NYSE:WEX) last issued its earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.15. The company had revenue of $652.70 million for the quarter, compared to the consensus estimate of $653.52 million. WEX had a return on equity of 30.92% and a net margin of 10.21%. Research 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 company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total transaction of $154,455.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Sara Trickett sold 734 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total transaction of $154,455.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer Kimball sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total value of $253,860.00. Following the sale, the chief accounting officer now directly owns 1,909 shares in the company, valued at $403,848.95. The disclosure for this sale can be found here. Insiders have sold 3,831 shares of company stock valued at $808,602 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

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.