WEX Inc. (NYSE:WEX) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in WEX Inc. (NYSE:WEX) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,536 shares of the business services provider’s stock after selling 235 shares during the period. State of Alaska Department of Revenue’s holdings in WEX were worth $795,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Choreo LLC increased its holdings in shares of WEX by 33.7% in the 4th quarter. Choreo LLC now owns 2,373 shares of the business services provider’s stock worth $405,000 after acquiring an additional 598 shares during the period. Level Wealth Management LLC acquired a new stake in shares of WEX in the fourth quarter valued at approximately $219,000. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of WEX by 0.6% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock valued at $1,959,000 after buying an additional 70 shares during the last quarter. KBC Group NV boosted its position in shares of WEX by 53.7% during the fourth quarter. KBC Group NV now owns 1,825 shares of the business services provider’s stock worth $320,000 after buying an additional 638 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in WEX in the 4th quarter worth approximately $702,000. 97.47% of the stock is currently owned by institutional investors.

WEX Stock Down 0.2 %

WEX stock opened at $154.80 on Friday. WEX Inc. has a twelve month low of $146.03 and a twelve month high of $244.04. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The firm has a market cap of $6.16 billion, a PE ratio of 20.64, a P/E/G ratio of 1.24 and a beta of 1.58. The firm’s 50 day moving average price is $174.51 and its two-hundred day moving average price is $184.84.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. On average, research analysts predict that WEX Inc. will post 14.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the completion of the sale, the chief operating officer now directly owns 7,582 shares of the company’s stock, valued at $1,436,334.08. The trade was a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company cut their target price on WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Citigroup downgraded shares of WEX from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Wolfe Research lowered shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Barclays dropped their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Finally, Jefferies Financial Group increased their price objective on shares of WEX from $180.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $199.73.

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.