Walleye Capital LLC Cuts Position in WEX Inc. (NYSE:WEX)

Walleye Capital LLC cut its holdings in WEX Inc. (NYSE:WEX - Free Report) by 60.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,049 shares of the business services provider's stock after selling 33,967 shares during the period. Walleye Capital LLC owned about 0.06% of WEX worth $4,624,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Isthmus Partners LLC purchased a new stake in WEX in the 3rd quarter valued at approximately $373,000. PEAK6 Investments LLC purchased a new stake in WEX during the 3rd quarter worth $4,157,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in WEX by 17.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,437 shares of the business services provider's stock worth $36,585,000 after purchasing an additional 26,395 shares during the period. Townsquare Capital LLC boosted its position in WEX by 22.6% in the 3rd quarter. Townsquare Capital LLC now owns 4,296 shares of the business services provider's stock valued at $901,000 after buying an additional 793 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in WEX in the 3rd quarter valued at about $59,000. Institutional investors and hedge funds own 97.47% of the company's stock.

WEX Trading Up 0.3 %

Shares of WEX stock traded up $0.65 during trading on Monday, hitting $189.31. The company's stock had a trading volume of 267,841 shares, compared to its average volume of 359,089. 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 stock has a market cap of $7.53 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 1.49 and a beta of 1.57. The stock has a 50-day moving average price of $194.50 and a two-hundred day moving average price of $187.20. WEX Inc. has a 52 week low of $165.51 and a 52 week high of $244.04.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.53. The firm had revenue of $665.50 million for the quarter, compared to analysts' expectations 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 quarter last year, the company posted $3.44 EPS. Equities research analysts anticipate that WEX Inc. will post 13.1 EPS for the current fiscal year.

Insider Activity

In other news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction that occurred on 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 owns 7,120 shares of the company's stock, valued at $1,424,000. The trade was a 6.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WEX shares. JPMorgan Chase & Co. cut their target price 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. Bank of America boosted their price target on shares of WEX from $238.00 to $255.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Wolfe Research cut shares of WEX from an "outperform" rating to a "peer perform" rating in a report on Monday, October 28th. Robert W. Baird cut their price target on shares of WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Finally, Wells Fargo & Company reduced their price target on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a report 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. According to data from MarketBeat, WEX currently has an average rating of "Moderate Buy" and an average price target of $235.91.

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.