Handelsbanken Fonder AB Has $31.22 Million Stock Position in WEX Inc. (NYSE:WEX)

Handelsbanken Fonder AB lessened its stake in WEX Inc. (NYSE:WEX) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,844 shares of the business services provider’s stock after selling 10,000 shares during the quarter. Handelsbanken Fonder AB owned about 0.36% of WEX worth $31,217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Rise Advisors LLC acquired a new stake in shares of WEX in the first quarter valued at approximately $29,000. International Assets Investment Management LLC acquired a new stake in shares of WEX in the 2nd quarter valued at $33,000. Covestor Ltd raised its position in shares of WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after acquiring an additional 131 shares during the last quarter. Quarry LP lifted its stake in shares of WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 165 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 187 shares during the period. 97.47% of the stock is owned by institutional investors.

WEX Trading Up 1.8 %

Shares of WEX traded up $3.81 during trading hours on Friday, reaching $210.00. The stock had a trading volume of 298,978 shares, compared to its average volume of 343,101. The company has a market cap of $8.80 billion, a P/E ratio of 34.15, a P/E/G ratio of 1.22 and a beta of 1.55. WEX Inc. has a 52 week low of $161.95 and a 52 week high of $244.04. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. The firm has a 50-day moving average of $190.14 and a 200 day moving average of $197.35.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, topping 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 company had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. On average, sell-side analysts expect that WEX Inc. will post 13.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jagtar Narula sold 540 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the completion of the transaction, the chief financial officer now owns 8,168 shares in the company, valued at $1,470,240. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ann Elena Drew sold 1,182 shares of the 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 completion of the transaction, the insider now directly owns 5,584 shares in the company, valued at approximately $964,524.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the completion of the sale, the chief financial officer now owns 8,168 shares in the company, valued at $1,470,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,985 shares of company stock worth $1,094,907. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on WEX shares. Wells Fargo & Company dropped their price objective on WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Keefe, Bruyette & Woods dropped their price target on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. JPMorgan Chase & Co. cut their price objective 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.