WEX Inc. (NYSE:WEX) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in WEX Inc. (NYSE:WEX - Free Report) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 994,527 shares of the business services provider's stock after selling 56,365 shares during the period. JPMorgan Chase & Co. owned approximately 2.50% of WEX worth $208,582,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its holdings in shares of WEX by 206.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in WEX in the third quarter valued at $35,000. International Assets Investment Management LLC purchased a new stake in WEX during the second quarter valued at about $33,000. Quarry LP increased its stake in WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider's stock worth $33,000 after acquiring an additional 165 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of WEX by 47.3% in the 3rd 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 period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WEX shares. Robert W. Baird decreased their target price on WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Wells Fargo & Company decreased 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 note on Friday, October 25th. Bank of America raised 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. Barclays reiterated an "equal weight" rating and issued a $200.00 price target (down from $207.00) on shares of WEX in a report on Tuesday, December 17th. Finally, Jefferies Financial Group boosted their price objective on WEX from $190.00 to $210.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $228.64.

WEX Stock Up 2.7 %

NYSE WEX traded up $4.64 on Tuesday, hitting $175.32. 455,830 shares of the stock traded hands, compared to its average volume of 360,833. 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 stock has a 50-day moving average of $179.61 and a 200 day moving average of $185.83. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04. The company has a market capitalization of $6.97 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 1.39 and a beta of 1.57.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.82 by $0.53. The business had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The business's revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.44 EPS. As a group, analysts expect that WEX Inc. will post 13.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Robert Joseph Deshaies sold 175 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the transaction, the chief operating officer now directly owns 7,582 shares in the company, valued at $1,436,334.08. This represents a 2.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

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.