Intech Investment Management LLC Trims Position in WEX Inc. (NYSE:WEX)

Intech Investment Management LLC decreased its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 72.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,305 shares of the business services provider's stock after selling 3,363 shares during the quarter. Intech Investment Management LLC's holdings in WEX were worth $274,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WEX. Commerce Bank grew its position in shares of WEX by 1.7% during the 3rd quarter. Commerce Bank now owns 3,624 shares of the business services provider's stock worth $760,000 after buying an additional 60 shares during the period. American Century Companies Inc. grew its position in shares of WEX by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider's stock worth $1,847,000 after buying an additional 68 shares during the period. Ballentine Partners LLC grew its position in shares of WEX by 3.3% during the 2nd quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider's stock worth $396,000 after buying an additional 72 shares during the period. GAMMA Investing LLC grew its position in shares of WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider's stock worth $63,000 after buying an additional 87 shares during the period. Finally, Covestor Ltd grew its position in shares of WEX by 47.3% during the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider's stock worth $58,000 after buying an additional 89 shares during the period. Institutional investors own 97.47% of the company's stock.

WEX Stock Performance

Shares of NYSE WEX traded down $1.20 during mid-day trading on Thursday, reaching $182.70. 434,928 shares of the company's stock were exchanged, compared to its average volume of 358,464. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 1.47 and a beta of 1.57. WEX Inc. has a 52 week low of $165.51 and a 52 week high of $244.04. 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 firm has a 50-day moving average price of $193.23 and a two-hundred day moving average price of $186.99.

WEX (NYSE:WEX - Get Free Report) last released its 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 for 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 business's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.44 EPS. Analysts predict that WEX Inc. will post 13.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WEX. Wells Fargo & Company reduced their price objective on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a research report on Friday, October 25th. 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. Wolfe Research downgraded shares of WEX from an "outperform" rating to a "peer perform" rating in a research report on Monday, October 28th. Bank of America lifted their price target on shares of WEX from $238.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Finally, Robert W. Baird reduced their price target on shares of WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $235.91.

Insider Activity at WEX

In related news, COO Robert Joseph Deshaies sold 175 shares of the business's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jagtar Narula sold 508 shares of the business's 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 sale, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. This represents a 6.66 % 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 company insiders.

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.