Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Reduces Holdings in WEX Inc. (NYSE:WEX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its holdings in WEX Inc. (NYSE:WEX - Free Report) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 909,989 shares of the business services provider's stock after selling 4,261 shares during the quarter. WEX comprises approximately 1.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's investment portfolio, making the stock its 18th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 2.22% of WEX worth $190,852,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its position in shares of WEX by 2.9% during the third quarter. State of Alaska Department of Revenue now owns 4,771 shares of the business services provider's stock valued at $1,000,000 after buying an additional 135 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of WEX by 14.0% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 2,837 shares of the business services provider's stock worth $595,000 after acquiring an additional 348 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of WEX by 20,873.0% in the third quarter. International Assets Investment Management LLC now owns 38,800 shares of the business services provider's stock valued at $8,138,000 after purchasing an additional 38,615 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of WEX by 124.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 40,870 shares of the business services provider's stock valued at $8,572,000 after purchasing an additional 22,638 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in WEX by 83.3% during the third quarter. Blue Trust Inc. now owns 418 shares of the business services provider's stock worth $88,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America lifted their target price 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. JPMorgan Chase & Co. cut their price objective on WEX from $210.00 to $200.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 20th. Wells Fargo & Company lowered their target price on WEX from $200.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Friday, October 25th. William Blair raised shares of WEX to a "strong-buy" rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of WEX from $275.00 to $230.00 and set an "outperform" rating for the company in a report on Monday, July 8th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, WEX presently has an average rating of "Moderate Buy" and an average price target of $235.91.

Insider Buying and Selling

In other WEX news, insider Ann Elena Drew sold 1,182 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the transaction, the insider now owns 5,584 shares of the company's stock, valued at $964,524.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Ann Elena Drew sold 1,182 shares of the company's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the transaction, the insider now directly owns 5,584 shares in the company, valued at approximately $964,524.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jagtar Narula sold 508 shares of the firm'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 transaction, 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. Over the last three months, insiders have sold 3,341 shares of company stock worth $605,704. Insiders own 1.10% of the company's stock.

WEX Price Performance

Shares of WEX stock traded up $0.51 during trading hours on Wednesday, reaching $173.67. The stock had a trading volume of 413,375 shares, compared to its average volume of 356,110. The stock's fifty day simple moving average is $199.51 and its 200 day simple moving average is $193.08. 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 $6.91 billion, a PE ratio of 21.99, a PEG ratio of 1.24 and a beta of 1.55. WEX Inc. has a 12 month low of $162.97 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 earnings per share for the quarter, topping the consensus estimate of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm had revenue of $665.50 million for the quarter, compared to analysts' expectations of $688.03 million. During the same quarter in the prior year, the firm posted $3.44 earnings per share. The business's quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts predict that WEX Inc. will post 13.65 EPS for the current year.

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.