WEX Inc. (NYSE:WEX) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP trimmed its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 89.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,152 shares of the business services provider's stock after selling 77,226 shares during the period. Bridgewater Associates LP's holdings in WEX were worth $1,919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of WEX. FMR LLC grew its stake in shares of WEX by 8.8% during the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider's stock worth $326,237,000 after purchasing an additional 125,262 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in 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 valued at $173,561,000 after buying an additional 48,182 shares in the last quarter. River Road Asset Management LLC raised its position in shares of WEX by 5.0% in the third quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider's stock worth $151,103,000 after acquiring an additional 34,264 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 worth $87,772,000 after acquiring an additional 126,663 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of WEX by 3.0% during the 2nd quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider's stock valued at $71,275,000 after acquiring an additional 11,821 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction that occurred on 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 sale, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 6.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

WEX Trading Down 0.6 %

Shares of NYSE WEX traded down $1.14 during trading on Friday, hitting $188.66. 170,438 shares of the company were exchanged, compared to its average volume of 378,049. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $7.50 billion, a PE ratio of 23.94, a P/E/G ratio of 1.49 and a beta of 1.57. The company has a fifty day moving average price of $194.50 and a 200-day moving average price of $187.31. WEX Inc. has a 12-month low of $165.51 and a 12-month high of $244.04.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.44 EPS. As a group, equities research analysts expect that WEX Inc. will post 13.1 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on WEX. Robert W. Baird lowered their price target on WEX from $285.00 to $230.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Jefferies Financial Group lifted their price target 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. Bank of America upped their price objective on shares of WEX from $238.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Wolfe Research lowered shares of WEX from an "outperform" rating to a "peer perform" rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a research report on Tuesday, August 20th. 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 stock. According to MarketBeat.com, WEX has a consensus rating of "Moderate Buy" and a consensus price target of $235.91.

WEX 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.