SageView Advisory Group LLC Sells 13,984 Shares of WEX Inc. (NYSE:WEX)

SageView Advisory Group LLC cut its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 89.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,619 shares of the business services provider's stock after selling 13,984 shares during the quarter. SageView Advisory Group LLC's holdings in WEX were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WEX. Quantinno Capital Management LP lifted its position in WEX by 19.7% in the 3rd quarter. Quantinno Capital Management LP now owns 13,868 shares of the business services provider's stock valued at $2,909,000 after purchasing an additional 2,286 shares during the last quarter. Portolan Capital Management LLC increased its stake in shares of WEX by 108.9% in the third quarter. Portolan Capital Management LLC now owns 26,870 shares of the business services provider's stock valued at $5,635,000 after purchasing an additional 14,007 shares during the period. Janus Henderson Group PLC raised its holdings in shares of WEX by 0.6% during the third quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider's stock valued at $873,251,000 after buying an additional 25,365 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of WEX by 82.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 175,690 shares of the business services provider's stock worth $36,847,000 after buying an additional 79,252 shares during the period. Finally, HighTower Advisors LLC grew its holdings in WEX by 79.5% in the 3rd quarter. HighTower Advisors LLC now owns 6,436 shares of the business services provider's stock worth $1,347,000 after buying an additional 2,851 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Jagtar Narula sold 508 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 7,582 shares of the company's stock, valued at $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

WEX Trading Up 0.2 %

Shares of WEX stock traded up $0.31 on Friday, reaching $183.01. 216,557 shares of the company were exchanged, compared to its average volume of 318,297. 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 Inc. has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.57. The stock has a fifty day moving average price of $192.25 and a 200-day moving average price of $186.88.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts' consensus estimates of $3.82 by $0.53. The company had revenue of $665.50 million during 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 quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.44 earnings per share. On average, analysts expect that WEX Inc. will post 13.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Robert W. Baird reduced their price target on WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on shares of WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a report on Tuesday, August 20th. 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. Wolfe Research lowered shares of WEX from an "outperform" rating to a "peer perform" rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company lowered their price objective on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $235.91.

About WEX

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.