WEX Inc. (NYSE:WEX) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC increased its holdings in WEX Inc. (NYSE:WEX) by 474.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,089 shares of the business services provider’s stock after acquiring an additional 11,636 shares during the quarter. Verition Fund Management LLC’s holdings in WEX were worth $2,955,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of WEX. Venturi Wealth Management LLC lifted its stake in shares of WEX by 206.1% in the third 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 acquired a new position in shares of WEX in the second quarter worth about $33,000. Quarry LP lifted its stake in shares of WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after acquiring an additional 165 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of 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 in the last quarter. Finally, Covestor Ltd lifted its stake in shares of WEX by 47.3% in the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wells Fargo & Company cut their price target on 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 boosted their price objective on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird lowered their price objective on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a 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 for the company in a report on Tuesday, August 20th. Finally, Bank of America boosted their price objective on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, WEX presently has an average rating of “Moderate Buy” and an average price target of $235.91.

WEX Stock Down 1.2 %

NYSE:WEX opened at $183.85 on Thursday. WEX Inc. has a 52 week low of $165.51 and a 52 week high of $244.04. The firm has a market capitalization of $7.31 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 1.50 and a beta of 1.57. The stock has a 50 day moving average of $193.23 and a 200-day moving average of $186.99. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87.

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

Insider Buying and Selling

In other WEX news, CFO Jagtar Narula sold 508 shares of the company’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 in the company, valued at $1,424,000. This 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. Also, COO Robert Joseph Deshaies sold 175 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was 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 owns 7,582 shares of the company’s stock, valued at $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.