WEX Inc. (NYSE:WEX) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its position in WEX Inc. (NYSE:WEX - Free Report) by 44.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,215 shares of the business services provider's stock after selling 3,329 shares during the quarter. BNP Paribas Financial Markets' holdings in WEX were worth $884,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WEX. Venturi Wealth Management LLC raised its stake in WEX by 206.1% in the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock valued at $31,000 after buying an additional 101 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of WEX in the 2nd quarter valued at about $33,000. Quarry LP raised its position in shares of WEX by 717.4% during the 2nd 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. raised its position in shares of WEX by 456.1% during the 2nd 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 WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider's stock worth $58,000 after purchasing an additional 89 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on WEX shares. JPMorgan Chase & Co. dropped their price target on shares of WEX from $210.00 to $200.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 20th. Wolfe Research downgraded shares of WEX from an "outperform" rating to a "peer perform" rating in a research report on Monday, October 28th. Jefferies Financial Group boosted their price target 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. Robert W. Baird decreased their price objective on shares of WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Company dropped their price objective on WEX from $200.00 to $180.00 and set an "equal weight" rating on the stock in a report on Friday, October 25th. Six research 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.com, WEX has an average rating of "Moderate Buy" and a consensus target price of $235.91.

Insider Buying and Selling

In other WEX news, 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 transaction, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. This represents a 6.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

WEX Stock Performance

Shares of NYSE WEX traded down $0.70 during midday trading on Thursday, reaching $178.10. 380,376 shares of the company were exchanged, compared to its average volume of 358,949. The stock has a market cap of $7.08 billion, a P/E ratio of 22.69, a PEG ratio of 1.42 and a beta of 1.57. WEX Inc. has a 1 year low of $165.51 and a 1 year high of $244.04. The stock has a fifty day simple moving average of $190.57 and a 200 day simple moving average of $186.63. 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 - Get Free Report) last posted its quarterly earnings data 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. 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 for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $3.44 EPS. On average, research analysts forecast that WEX Inc. will post 13.1 earnings per share for the current fiscal year.

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.