Pathstone Holdings LLC Sells 184 Shares of WEX Inc. (NYSE:WEX)

Pathstone Holdings LLC cut its holdings in WEX Inc. (NYSE:WEX) by 2.3% during the 3rd quarter, Holdings Channel reports. The firm owned 7,952 shares of the business services provider’s stock after selling 184 shares during the period. Pathstone Holdings LLC’s holdings in WEX were worth $1,668,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WEX. Venturi Wealth Management LLC lifted its position in WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 101 shares during the period. International Assets Investment Management LLC purchased a new position in shares of WEX in the 2nd quarter worth about $33,000. Quarry LP boosted its stake in WEX by 717.4% in the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after purchasing an additional 165 shares in the last quarter. Blue Trust Inc. grew its position in WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 187 shares during the last quarter. Finally, Covestor Ltd increased its stake in WEX by 47.3% during the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Up 2.1 %

Shares of WEX stock opened at $189.79 on Thursday. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.49 and a beta of 1.57. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s fifty day moving average price is $195.44 and its 200 day moving average price is $187.51.

WEX (NYSE:WEX) last issued its quarterly earnings results 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 analysts’ expectations of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.44 EPS. On average, research analysts expect that WEX Inc. will post 13.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 508 shares of the 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 directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This trade represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

WEX has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Bank of America lifted their price objective on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird dropped their price target on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. 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, WEX currently has an average rating of “Moderate Buy” and a consensus price target of $235.91.

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.