WEX Inc. (NYSE:WEX) Shares Sold by XTX Topco Ltd

XTX Topco Ltd decreased its holdings in WEX Inc. (NYSE:WEX) by 30.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,261 shares of the business services provider’s stock after selling 550 shares during the quarter. XTX Topco Ltd’s holdings in WEX were worth $223,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Seven Eight Capital LP purchased a new stake in shares of WEX during the 2nd quarter worth approximately $1,227,000. Hsbc Holdings PLC boosted its position in WEX by 1,823.3% during the second quarter. Hsbc Holdings PLC now owns 28,945 shares of the business services provider’s stock worth $5,128,000 after purchasing an additional 27,440 shares in the last quarter. Beck Bode LLC acquired a new stake in WEX in the second quarter valued at $1,030,000. Mercer Global Advisors Inc. ADV increased its position in shares of WEX by 8.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,292 shares of the business services provider’s stock valued at $229,000 after buying an additional 102 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of WEX by 34.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock worth $87,772,000 after buying an additional 126,663 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

WEX has been the subject of several recent research reports. William Blair upgraded shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. cut their price objective on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods lowered their target price on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Finally, Wells Fargo & Company cut their price target on WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Six 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $239.58.

WEX Trading Up 1.8 %

Shares of WEX stock opened at $209.10 on Monday. The firm’s 50-day simple moving average is $187.34 and its 200-day simple moving average is $197.99. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. WEX Inc. has a 1-year low of $161.95 and a 1-year high of $244.04. The firm has a market cap of $8.76 billion, a P/E ratio of 34.00, a PEG ratio of 1.25 and a beta of 1.54.

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

Insider Buying and Selling at WEX

In other news, COO Robert Joseph Deshaies sold 1,651 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was 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. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Robert Joseph Deshaies sold 1,651 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now owns 7,757 shares of the company’s stock, valued at $1,409,214.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jagtar Narula sold 508 shares of WEX 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 transaction, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,985 shares of company stock valued at $1,094,907. Company 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.