WEX Inc. (NYSE:WEX) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its position in shares of WEX Inc. (NYSE:WEX) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,494 shares of the business services provider’s stock after selling 333 shares during the quarter. Daiwa Securities Group Inc.’s holdings in WEX were worth $1,263,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. VisionPoint Advisory Group LLC increased its holdings in shares of WEX by 74.7% in the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. Bath Savings Trust Co increased its holdings in shares of WEX by 0.3% in the fourth quarter. Bath Savings Trust Co now owns 27,284 shares of the business services provider’s stock valued at $5,308,000 after purchasing an additional 80 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of WEX by 0.7% in the third quarter. Arizona State Retirement System now owns 12,198 shares of the business services provider’s stock valued at $2,294,000 after purchasing an additional 83 shares during the last quarter. Wendell David Associates Inc. grew its position in WEX by 7.9% in the third quarter. Wendell David Associates Inc. now owns 1,189 shares of the business services provider’s stock worth $224,000 after acquiring an additional 87 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its position in WEX by 5.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,893 shares of the business services provider’s stock worth $368,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Trading Up 1.5 %

WEX opened at $234.00 on Wednesday. WEX Inc. has a 12 month low of $161.95 and a 12 month high of $244.04. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 37.99, a PEG ratio of 1.49 and a beta of 1.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day moving average price of $230.06 and a 200 day moving average price of $202.94.

WEX (NYSE:WEX) last released its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a return on equity of 31.33% and a net margin of 10.46%. The firm had revenue of $663.30 million for the quarter, compared to analysts’ expectations of $656.75 million. Sell-side analysts expect that WEX Inc. will post 13.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WEX has been the subject of several analyst reports. StockNews.com lowered WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. William Blair reiterated an “outperform” rating on shares of WEX in a research report on Thursday, February 8th. TheStreet upgraded WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Mizuho increased their price objective on WEX from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, Citigroup increased their price objective on WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, WEX has an average rating of “Moderate Buy” and an average price target of $240.00.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total transaction of $72,071.16. Following the sale, the chief financial officer now directly owns 5,528 shares in the company, valued at $1,289,350.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Melissa D. Smith sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $222.33, for a total value of $2,890,290.00. Following the completion of the transaction, the chief executive officer now directly owns 81,998 shares of the company’s stock, valued at $18,230,615.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total value of $72,071.16. Following the completion of the transaction, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at $1,289,350.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,326 shares of company stock worth $6,281,961. Company insiders own 1.10% of the company’s stock.

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.