US Bancorp DE Sells 1,222 Shares of WEX Inc. (NYSE:WEX)

US Bancorp DE cut its holdings in shares of WEX Inc. (NYSE:WEXGet Rating) by 12.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,564 shares of the business services provider’s stock after selling 1,222 shares during the quarter. US Bancorp DE’s holdings in WEX were worth $1,087,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in WEX. CWM LLC raised its position in shares of WEX by 99.2% in the 3rd quarter. CWM LLC now owns 265 shares of the business services provider’s stock worth $34,000 after purchasing an additional 132 shares during the last quarter. Charter Oak Capital Management LLC bought a new position in shares of WEX during the 2nd quarter valued at approximately $42,000. Wipfli Financial Advisors LLC bought a new position in WEX in the 3rd quarter worth approximately $43,000. Lazard Asset Management LLC bought a new position in WEX in the 1st quarter worth approximately $44,000. Finally, DekaBank Deutsche Girozentrale bought a new position in WEX in the 2nd quarter worth approximately $108,000. Institutional investors own 98.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WEX shares. Barclays increased their price target on WEX from $211.00 to $213.00 and gave the company an “overweight” rating in a report on Monday, October 31st. Keefe, Bruyette & Woods reduced their price objective on WEX from $226.00 to $185.00 in a research note on Monday, October 10th. Bank of America reduced their price target on WEX from $225.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, October 20th. Wells Fargo & Company lifted their price target on WEX from $185.00 to $193.00 and gave the stock an “overweight” rating in a research note on Monday, January 9th. Finally, StockNews.com assumed coverage on WEX in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.08.

WEX Trading Down 1.2 %

WEX stock opened at $174.95 on Thursday. The company’s fifty day simple moving average is $164.64 and its 200-day simple moving average is $157.77. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.62. WEX Inc. has a 12 month low of $125.00 and a 12 month high of $183.38. The stock has a market cap of $7.63 billion, a P/E ratio of 79.16, a P/E/G ratio of 0.73 and a beta of 1.59.

WEX (NYSE:WEXGet Rating) last released its earnings results on Thursday, October 27th. The business services provider reported $3.01 earnings per share for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.11). The firm had revenue of $616.13 million for the quarter, compared to analyst estimates of $590.54 million. WEX had a return on equity of 27.73% and a net margin of 4.53%. As a group, sell-side analysts forecast that WEX Inc. will post 11.63 EPS for the current fiscal year.

Insider Buying and Selling

In other WEX news, insider Hilary A. Rapkin sold 5,270 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $175.00, for a total transaction of $922,250.00. Following the sale, the insider now directly owns 12,203 shares of the company’s stock, valued at $2,135,525. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Hilary A. Rapkin sold 6,156 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $165.19, for a total transaction of $1,016,909.64. Following the sale, the insider now directly owns 12,328 shares in the company, valued at $2,036,462.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Hilary A. Rapkin sold 5,270 shares of the firm’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $175.00, for a total transaction of $922,250.00. Following the completion of the transaction, the insider now directly owns 12,203 shares of the company’s stock, valued at approximately $2,135,525. The disclosure for this sale can be found here. Insiders sold 12,426 shares of company stock valued at $2,102,480 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

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.

Further Reading

Want to see what other hedge funds are holding WEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEX Inc. (NYSE:WEXGet Rating).

Institutional Ownership by Quarter for WEX (NYSE:WEX)

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