GSA Capital Partners LLP Trims Stock Position in WEX Inc. (NYSE:WEX)

GSA Capital Partners LLP lessened its position in shares of WEX Inc. (NYSE:WEX) by 25.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,529 shares of the business services provider’s stock after selling 1,196 shares during the period. GSA Capital Partners LLP’s holdings in WEX were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of WEX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of WEX by 5.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock worth $173,561,000 after buying an additional 48,182 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of 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 in the last quarter. River Road Asset Management LLC raised its holdings in shares of WEX by 5.0% in the 3rd quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock valued at $151,103,000 after acquiring an additional 34,264 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of WEX by 34.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock valued at $87,772,000 after acquiring an additional 126,663 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of WEX by 3.0% during the second quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider’s stock worth $71,275,000 after purchasing an additional 11,821 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WEX has been the subject of several research analyst reports. Jefferies Financial Group lifted their target price on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. dropped 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. Bank of America increased their target price on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company dropped their price target on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Finally, William Blair raised WEX to a “strong-buy” rating in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.91.

WEX Stock Down 1.0 %

Shares of NYSE WEX opened at $179.08 on Monday. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.41 and a beta of 1.57. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. The firm’s fifty day moving average is $197.33 and its 200 day moving average is $188.85. WEX Inc. has a 52 week low of $165.51 and a 52 week high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $3.82 by $0.53. The firm 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 company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.44 earnings per share. On average, equities research analysts expect that WEX Inc. will post 13.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jagtar Narula sold 508 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Robert Joseph Deshaies sold 1,651 shares of WEX stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at approximately $1,409,214.19. The trade was a 17.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.