Sora Investors LLC Takes $4.75 Million Position in WEX Inc. (NYSE:WEX)

Sora Investors LLC acquired a new position in shares of WEX Inc. (NYSE:WEX - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 22,630 shares of the business services provider's stock, valued at approximately $4,746,000. Sora Investors LLC owned approximately 0.06% of WEX as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its position in WEX by 206.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock worth $31,000 after buying an additional 101 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of WEX during the second quarter worth $33,000. Quarry LP boosted its position in WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider's stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. grew its stake in WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider's stock valued at $40,000 after purchasing an additional 187 shares in the last quarter. Finally, Covestor Ltd increased its position in 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 last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Robert Joseph Deshaies sold 175 shares of the business's stock in a transaction on Friday, November 29th. The shares were 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 owns 7,582 shares in the company, valued at $1,436,334.08. This represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently 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 report on Friday, October 25th. 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 increased their price target on shares of WEX from $238.00 to $255.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. 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 note on Friday, October 25th. Finally, Jefferies Financial Group increased their target price on shares of WEX from $190.00 to $210.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, WEX presently has an average rating of "Moderate Buy" and a consensus price target of $235.91.

WEX Stock Performance

WEX traded up $1.54 during midday trading on Friday, reaching $184.24. The company's stock had a trading volume of 95,977 shares, compared to its average volume of 357,343. 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 company has a fifty day simple moving average of $192.77 and a 200 day simple moving average of $186.96. The stock has a market cap of $7.33 billion, a P/E ratio of 23.43, a PEG ratio of 1.46 and a beta of 1.57. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04.

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

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.