Charles Schwab Investment Management Inc. Sells 23,161 Shares of WEX Inc. (NYSE:WEX)

Charles Schwab Investment Management Inc. lessened its stake in WEX Inc. (NYSE:WEX - Free Report) by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 314,438 shares of the business services provider's stock after selling 23,161 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.79% of WEX worth $65,947,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its stake in WEX by 206.1% in the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock valued at $31,000 after acquiring an additional 101 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of WEX in the 2nd quarter valued at about $33,000. Quarry LP lifted its stake in WEX by 717.4% in the 2nd 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 holdings in WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider's stock worth $40,000 after purchasing an additional 187 shares during the period. Finally, Covestor Ltd increased its position in WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider's stock worth $58,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.

Insider Activity

In related 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 directly owns 7,120 shares of the company's stock, valued at $1,424,000. This trade represents a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company's stock.

WEX Price Performance

WEX stock traded down $1.14 during mid-day trading on Friday, reaching $188.66. 170,437 shares of the company were exchanged, compared to its average volume of 359,484. The firm has a market cap of $7.51 billion, a PE ratio of 24.09, a PEG ratio of 1.50 and a beta of 1.57. 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 company has a fifty day simple moving average of $194.86 and a 200-day simple moving average of $187.55. WEX Inc. has a 12 month low of $165.51 and a 12 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 EPS for the quarter, topping analysts' consensus estimates of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company had revenue of $665.50 million for the quarter, compared to analysts' expectations of $688.03 million. During the same quarter last year, the business earned $3.44 earnings per share. WEX's revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts expect that WEX Inc. will post 13.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WEX. JPMorgan Chase & Co. cut their price objective on WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a research report on Tuesday, August 20th. 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 report on Friday, October 25th. Wolfe Research downgraded shares of WEX from an "outperform" rating to a "peer perform" rating in a report on Monday, October 28th. Jefferies Financial Group raised their target price on shares of WEX from $190.00 to $210.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Finally, Bank of America upped their price target 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. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $235.91.

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.