State of Alaska Department of Revenue cut its position in shares of WEX Inc. (NYSE:WEX – Free Report) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,311 shares of the business services provider’s stock after selling 698 shares during the quarter. State of Alaska Department of Revenue’s holdings in WEX were worth $966,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Townsquare Capital LLC boosted its stake in shares of WEX by 1.8% during the 4th quarter. Townsquare Capital LLC now owns 2,945 shares of the business services provider’s stock worth $482,000 after acquiring an additional 51 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of WEX by 41.1% during the 1st quarter. Global Retirement Partners LLC now owns 213 shares of the business services provider’s stock worth $36,000 after acquiring an additional 62 shares in the last quarter. M&T Bank Corp boosted its stake in shares of WEX by 3.9% during the 1st quarter. M&T Bank Corp now owns 1,641 shares of the business services provider’s stock worth $301,000 after acquiring an additional 62 shares in the last quarter. Toroso Investments LLC boosted its stake in shares of WEX by 3.7% during the 1st quarter. Toroso Investments LLC now owns 2,156 shares of the business services provider’s stock worth $396,000 after acquiring an additional 76 shares in the last quarter. Finally, Spire Wealth Management boosted its position in shares of WEX by 55.6% in the first quarter. Spire Wealth Management now owns 221 shares of the business services provider’s stock worth $41,000 after buying an additional 79 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at WEX
In other news, insider Melanie J. Tinto sold 4,601 shares of WEX stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $182.74, for a total value of $840,786.74. Following the transaction, the insider now directly owns 7,051 shares in the company, valued at $1,288,499.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Melanie J. Tinto sold 4,601 shares of WEX stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $182.74, for a total value of $840,786.74. Following the transaction, the insider now directly owns 7,051 shares in the company, valued at $1,288,499.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert Joseph Deshaies sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $196.22, for a total value of $196,220.00. Following the transaction, the chief operating officer now owns 8,070 shares in the company, valued at $1,583,495.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,357 shares of company stock worth $1,181,161. Company insiders own 1.10% of the company’s stock.
WEX Price Performance
WEX (NYSE:WEX – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $3.06 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.01). The business had revenue of $621.30 million during the quarter, compared to the consensus estimate of $620.63 million. WEX had a return on equity of 31.60% and a net margin of 8.42%. On average, analysts anticipate that WEX Inc. will post 12.27 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on WEX from $218.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 22nd. Mizuho raised their target price on WEX from $200.00 to $225.00 in a research report on Monday, July 31st. Credit Suisse Group raised their target price on WEX from $195.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Citigroup raised their target price on WEX from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on WEX in a research report on Friday, July 7th. They set a “hold” rating and a $190.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, WEX has a consensus rating of “Moderate Buy” and a consensus price target of $218.50.
Check Out Our Latest Stock Report on WEX
WEX Profile
WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account 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 tools to fleets to manage expenses and capital requirements.
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