Amalgamated Bank Sells 5,265 Shares of WEX Inc. (NYSE:WEX)

Amalgamated Bank lessened its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 21.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,686 shares of the business services provider's stock after selling 5,265 shares during the quarter. Amalgamated Bank's holdings in WEX were worth $4,129,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. American Century Companies Inc. increased its stake in shares of WEX by 0.7% in the second quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider's stock worth $1,847,000 after acquiring an additional 68 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of WEX by 3.3% in the second quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider's stock worth $396,000 after acquiring an additional 72 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of WEX by 40.7% in the third quarter. GAMMA Investing LLC now owns 301 shares of the business services provider's stock worth $63,000 after acquiring an additional 87 shares during the last quarter. Cozad Asset Management Inc. increased its stake in shares of WEX by 2.1% in the first quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider's stock worth $1,148,000 after acquiring an additional 100 shares during the last quarter. Finally, Long Road Investment Counsel LLC increased its stake in shares of WEX by 0.4% in the second quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider's stock worth $4,729,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.

WEX Stock Performance

NYSE WEX traded up $0.16 during trading on Friday, reaching $184.06. The company's stock had a trading volume of 295,976 shares, compared to its average volume of 359,810. The firm has a 50 day moving average price of $198.08 and a 200 day moving average price of $190.63. WEX Inc. has a 12 month low of $165.51 and a 12 month high of $244.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.47 and a beta of 1.57.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, topping analysts' consensus estimates of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. During the same quarter in the prior year, the firm posted $3.44 EPS. The firm's quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that WEX Inc. will post 13.2 EPS for the current fiscal year.

Insider Transactions at WEX

In other news, CFO Jagtar Narula sold 508 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 7,120 shares of the company's stock, valued at approximately $1,424,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Robert Joseph Deshaies sold 1,651 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $1,409,214.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jagtar Narula sold 508 shares of the company's 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 completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WEX has been the topic of a number of research reports. William Blair raised shares of WEX to a "strong-buy" rating in a research note on Friday, July 26th. Wolfe Research cut shares of WEX from an "outperform" rating to a "peer perform" rating in a report on Monday, October 28th. Robert W. Baird decreased their price target on shares of WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Jefferies Financial Group increased their target price on shares of WEX from $190.00 to $210.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Finally, Bank of America increased their target price on shares of WEX from $238.00 to $255.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $235.91.

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.