Thrivent Financial for Lutherans Sells 472 Shares of WEX Inc. (NYSE:WEX)

Thrivent Financial for Lutherans decreased its position in WEX Inc. (NYSE:WEX) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,652 shares of the business services provider’s stock after selling 472 shares during the quarter. Thrivent Financial for Lutherans’ holdings in WEX were worth $2,024,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WEX. Venturi Wealth Management LLC grew its stake in shares of WEX by 206.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after acquiring an additional 101 shares in the last quarter. International Assets Investment Management LLC bought a new position in WEX during the second quarter valued at about $33,000. Quarry LP grew its position 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 period. Blue Trust Inc. grew its position in 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 buying an additional 187 shares during the period. Finally, Covestor Ltd grew its position in WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after buying an additional 89 shares during the period. Institutional investors own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

WEX has been the subject of several research reports. Robert W. Baird reduced their price target on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered 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. Wells Fargo & Company lowered their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Jefferies Financial Group raised their target price on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, Bank of America lifted their price target on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.91.

WEX Price Performance

NYSE WEX opened at $189.80 on Friday. The company has a 50-day moving average price of $195.19 and a 200-day moving average price of $187.53. The firm has a market capitalization of $7.55 billion, a P/E ratio of 24.09, a PEG ratio of 1.47 and a beta of 1.57. WEX Inc. has a 52 week low of $165.51 and a 52 week high of $244.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business had revenue of $665.50 million during the quarter, compared to analyst estimates of $688.03 million. During the same period last year, the firm posted $3.44 EPS. The company’s revenue was up 2.2% on a year-over-year basis. Equities research analysts anticipate that WEX Inc. will post 13.1 earnings per share for the current year.

Insider Activity

In other WEX news, CFO Jagtar Narula sold 508 shares of the stock in a transaction 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 sale, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. This trade represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

WEX Company 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.