State of New Jersey Common Pension Fund D Has $2.73 Million Position in WEX Inc. (NYSE:WEX)

State of New Jersey Common Pension Fund D lowered its holdings in WEX Inc. (NYSE:WEX) by 34.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,427 shares of the business services provider’s stock after selling 8,163 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in WEX were worth $2,733,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WEX. Norges Bank purchased a new position in WEX during the 4th quarter worth $89,745,000. Kodai Capital Management LP purchased a new position in WEX during the 4th quarter worth $49,750,000. Wellington Management Group LLP boosted its holdings in WEX by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after acquiring an additional 179,813 shares during the last quarter. Vanguard Group Inc. boosted its holdings in WEX by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock worth $816,919,000 after acquiring an additional 67,893 shares during the last quarter. Finally, Vident Advisory LLC boosted its holdings in WEX by 1,610.6% during the 1st quarter. Vident Advisory LLC now owns 58,264 shares of the business services provider’s stock worth $13,839,000 after acquiring an additional 54,858 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ann Elena Drew sold 1,182 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the sale, the insider now directly owns 5,584 shares in the company, valued at $964,524.32. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ann Elena Drew sold 1,182 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the sale, the insider now owns 5,584 shares in the company, valued at $964,524.32. The disclosure for this sale can be found here. Insiders have sold a total of 5,985 shares of company stock worth $1,094,907 over the last ninety days. Company insiders own 1.10% of the company’s stock.

WEX Trading Down 0.2 %

Shares of WEX stock opened at $202.45 on Thursday. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04. The stock’s 50-day simple moving average is $184.34 and its 200 day simple moving average is $199.23. The stock has a market capitalization of $8.32 billion, a P/E ratio of 32.92, a P/E/G ratio of 1.19 and a beta of 1.54. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.09. WEX had a return on equity of 31.05% and a net margin of 9.32%. The business had revenue of $673.50 million for the quarter, compared to analysts’ expectations of $677.44 million. As a group, research analysts anticipate that WEX Inc. will post 13.75 EPS for the current year.

Analyst Ratings Changes

WEX has been the topic of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Keefe, Bruyette & Woods cut their price target on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. cut their price target on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Finally, William Blair raised shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $239.58.

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.