Wealth Enhancement Advisory Services LLC Decreases Stock Holdings in WEX Inc. (NYSE:WEX)

Wealth Enhancement Advisory Services LLC lowered its stake in WEX Inc. (NYSE:WEX) by 17.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,208 shares of the business services provider’s stock after selling 669 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in WEX were worth $673,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in WEX. International Assets Investment Management LLC bought a new position in shares of WEX in the 2nd quarter worth approximately $33,000. Quarry LP increased its holdings in 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 buying an additional 165 shares during the last quarter. Blue Trust Inc. raised its position in WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after acquiring an additional 187 shares during the period. Covestor Ltd boosted its stake in shares of WEX by 233.9% during the 1st 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. Finally, GAMMA Investing LLC boosted its stake in shares of WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after acquiring an additional 87 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Jefferies Financial Group upped their price objective on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Wells Fargo & Company reduced their price target on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Robert W. Baird reduced their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $235.91.

WEX Price Performance

Shares of NYSE:WEX opened at $183.90 on Friday. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 1.35 and a beta of 1.57. The firm has a fifty day moving average price of $198.22 and a 200 day moving average price of $190.96. WEX Inc. has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. The firm had revenue of $665.50 million during the quarter, compared to analyst estimates of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.44 earnings per share. As a group, sell-side analysts expect that WEX Inc. will post 13.2 earnings per share for the current fiscal year.

Insider Activity at WEX

In related news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the transaction, the chief operating officer now directly owns 7,757 shares in the company, valued at approximately $1,409,214.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

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.