WEX Inc. (NYSE:WEX) Position Lessened by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in WEX Inc. (NYSE:WEX) by 6.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,158 shares of the business services provider’s stock after selling 1,037 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in WEX were worth $3,179,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. XTX Topco Ltd grew its stake in shares of WEX by 958.2% in the 3rd quarter. XTX Topco Ltd now owns 13,344 shares of the business services provider’s stock valued at $2,799,000 after buying an additional 12,083 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in WEX in the third quarter worth approximately $251,000. Sora Investors LLC acquired a new position in shares of WEX during the 3rd quarter worth $4,746,000. State Street Corp raised its holdings in shares of WEX by 0.3% during the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock valued at $260,265,000 after purchasing an additional 3,882 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of WEX by 19.7% in the 3rd quarter. Quantinno Capital Management LP now owns 13,868 shares of the business services provider’s stock valued at $2,909,000 after purchasing an additional 2,286 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WEX shares. Wolfe Research lowered WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Robert W. Baird cut their price objective on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Jefferies Financial Group upped their target price on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. 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 research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, WEX has an average rating of “Moderate Buy” and an average price target of $235.91.

WEX Stock Performance

Shares of NYSE WEX opened at $177.19 on Tuesday. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.39 and a beta of 1.57. WEX Inc. has a one year low of $165.51 and a one year high of $244.04. The business has a fifty day simple moving average of $188.70 and a 200 day simple moving average of $186.48. 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 released its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $3.82 by $0.53. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $3.44 EPS. Sell-side analysts expect that WEX Inc. will post 13.1 EPS for the current year.

Insider Buying and Selling at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the transaction, the chief operating officer now directly owns 7,582 shares in the company, valued at $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.