New York State Teachers Retirement System Sells 100 Shares of WEX Inc. (NYSE:WEX)

Posted by Defense World Staff on Apr 15th, 2023

New York State Teachers Retirement System decreased its position in WEX Inc. (NYSE:WEX – Get Rating) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,945 shares of the business services provider’s stock after selling 100 shares during the period. New York State Teachers Retirement System owned approximately 0.13% of WEX worth $9,319,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Natixis Advisors L.P. boosted its stake in WEX by 1.2% in the 4th quarter. Natixis Advisors L.P. now owns 19,838 shares of the business services provider’s stock worth $3,246,000 after purchasing an additional 238 shares in the last quarter. CENTRAL TRUST Co boosted its stake in WEX by 308.2% in the 4th quarter. CENTRAL TRUST Co now owns 347 shares of the business services provider’s stock worth $57,000 after purchasing an additional 262 shares in the last quarter. Comerica Bank boosted its stake in WEX by 18.5% in the 4th quarter. Comerica Bank now owns 29,979 shares of the business services provider’s stock worth $5,307,000 after purchasing an additional 4,677 shares in the last quarter. Strs Ohio boosted its stake in WEX by 10.4% in the 4th quarter. Strs Ohio now owns 7,977 shares of the business services provider’s stock worth $1,305,000 after purchasing an additional 751 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in WEX by 85.6% in the 4th quarter. Lindbrook Capital LLC now owns 167 shares of the business services provider’s stock worth $27,000 after purchasing an additional 77 shares in the last quarter. Institutional investors own 98.65% of the company’s stock.

WEX Price Performance

NYSE WEX opened at $188.59 on Friday. WEX Inc. has a 52 week low of $125.00 and a 52 week high of $204.05. The firm has a market capitalization of $8.13 billion, a P/E ratio of 42.00, a PEG ratio of 1.99 and a beta of 1.60. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.53. The company has a 50-day moving average price of $184.92 and a 200-day moving average price of $168.77.

Insider Activity

In related news, COO Robert Joseph Deshaies sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $199.19, for a total value of $199,190.00. Following the completion of the sale, the chief operating officer now directly owns 7,537 shares of the company’s stock, valued at approximately $1,501,295.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO David G. Cooper sold 16,639 shares of the stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $197.00, for a total value of $3,277,883.00. Following the completion of the sale, the chief technology officer now directly owns 6,358 shares of the company’s stock, valued at approximately $1,252,526. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert Joseph Deshaies sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $199.19, for a total transaction of $199,190.00. Following the completion of the sale, the chief operating officer now directly owns 7,537 shares of the company’s stock, valued at $1,501,295.03. The disclosure for this sale can be found here. Insiders sold 21,364 shares of company stock valued at $4,203,786 in the last quarter. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WEX shares. StockNews.com assumed coverage on shares of WEX in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Barclays lowered their target price on shares of WEX from $213.00 to $209.00 and set an “overweight” rating on the stock in a research note on Monday, January 23rd. TheStreet upgraded shares of WEX from a “c” rating to a “b-” rating in a research note on Thursday, February 9th. Morgan Stanley upped their target price on shares of WEX from $157.00 to $199.00 and gave the company an “equal weight” rating in a research note on Friday, February 10th. Finally, Truist Financial lowered their target price on shares of WEX from $215.00 to $185.00 in a research note on Thursday, March 16th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, WEX has an average rating of “Moderate Buy” and an average target price of $209.00.

WEX Company Profile

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WEX Inc provides financial technology services in the United States and internationally. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.