Versor Investments LP Trims Holdings in WEX Inc. (NYSE:WEX)

Versor Investments LP cut its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 59.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,184 shares of the business services provider's stock after selling 3,200 shares during the quarter. Versor Investments LP's holdings in WEX were worth $458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WEX. American Century Companies Inc. raised its position in WEX by 0.7% during the second quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider's stock valued at $1,847,000 after purchasing an additional 68 shares during the period. Ballentine Partners LLC lifted its holdings in shares of WEX by 3.3% in the 2nd quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider's stock valued at $396,000 after buying an additional 72 shares during the period. GAMMA Investing LLC increased its stake in WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider's stock worth $63,000 after buying an additional 87 shares in the last quarter. Covestor Ltd increased its stake in WEX by 47.3% during the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider's stock worth $58,000 after buying an additional 89 shares in the last quarter. Finally, Long Road Investment Counsel LLC grew its position in shares of WEX by 0.4% in the second quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider's stock valued at $4,729,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on WEX. William Blair upgraded WEX to a "strong-buy" rating in a research note on Friday, July 26th. Robert W. Baird cut their price objective on WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Jefferies Financial Group boosted their price objective on shares of WEX from $190.00 to $210.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Bank of America upped 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. Finally, 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 note on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, WEX currently has an average rating of "Moderate Buy" and an average price target of $235.91.

WEX Stock Down 1.0 %

WEX traded down $1.83 on Friday, hitting $179.08. 439,690 shares of the company were exchanged, compared to its average volume of 360,546. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.41 and a beta of 1.57. The firm has a 50-day moving average price of $197.48 and a two-hundred day moving average price of $189.43. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04. 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 (NYSE:WEX - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $688.03 million. During the same period last year, the company posted $3.44 earnings per share. The firm's revenue was up 2.2% compared to the same quarter last year. On average, equities analysts predict that WEX Inc. will post 13.2 earnings per share for the current year.

Insider Activity

In other news, COO Robert Joseph Deshaies sold 1,651 shares of the business's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the transaction, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. The trade was a 17.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jagtar Narula sold 508 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were 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 of the company's stock, valued at approximately $1,424,000. The trade was a 6.66 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

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.