Millennium Management LLC Has $9.42 Million Stock Holdings in WEX Inc. (NYSE:WEX)

Millennium Management LLC lowered its stake in WEX Inc. (NYSE:WEX) by 63.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,165 shares of the business services provider’s stock after selling 94,148 shares during the quarter. Millennium Management LLC owned approximately 0.13% of WEX worth $9,418,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of WEX. Vanguard Group Inc. grew its position in shares of WEX by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock valued at $816,919,000 after acquiring an additional 67,893 shares during the period. Wellington Management Group LLP boosted its holdings in shares of 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 buying an additional 179,813 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in WEX by 5.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock valued at $173,561,000 after buying an additional 48,182 shares during the last quarter. Bessemer Group Inc. raised its holdings in WEX by 0.6% in the 1st quarter. Bessemer Group Inc. now owns 735,313 shares of the business services provider’s stock valued at $174,660,000 after acquiring an additional 4,262 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in WEX by 34.3% during the second quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock worth $87,772,000 after acquiring an additional 126,663 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

WEX Price Performance

Shares of WEX stock opened at $208.86 on Wednesday. The business has a fifty day simple moving average of $191.07 and a 200 day simple moving average of $196.70. The company has a market cap of $8.58 billion, a P/E ratio of 33.96, a P/E/G ratio of 1.25 and a beta of 1.55. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04.

WEX (NYSE:WEX) last issued its earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.20 by $0.09. WEX had a return on equity of 31.05% and a net margin of 9.32%. The firm had revenue of $673.50 million during the quarter, compared to the consensus estimate of $677.44 million. On average, sell-side analysts forecast that WEX Inc. will post 13.75 EPS for the current fiscal year.

Insider Activity at WEX

In other WEX news, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $190.00, for a total transaction of $102,600.00. Following the sale, the chief financial officer now owns 7,628 shares of the company’s stock, valued at approximately $1,449,320. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other WEX 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 value 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $190.00, for a total value of $102,600.00. Following the sale, the chief financial officer now owns 7,628 shares in the company, valued at approximately $1,449,320. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,445 shares of company stock valued at $997,707 in the last quarter. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on WEX shares. JPMorgan Chase & Co. decreased their target price on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. William Blair upgraded shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Wells Fargo & Company lowered their target price 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. Finally, Keefe, Bruyette & Woods cut their price target on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Six investment 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, WEX has an average rating of “Moderate Buy” and an average target price of $239.58.

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.