Retirement Systems of Alabama Sells 106 Shares of WEX Inc. (NYSE:WEX)

Retirement Systems of Alabama trimmed its holdings in WEX Inc. (NYSE:WEX) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,426 shares of the business services provider’s stock after selling 106 shares during the period. Retirement Systems of Alabama owned 0.19% of WEX worth $15,647,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC lifted its stake 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 worth $27,000 after buying an additional 62 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of WEX in the fourth quarter worth $27,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of WEX by 896.8% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the business services provider’s stock worth $58,000 after buying an additional 278 shares during the last quarter. CWM LLC lifted its stake in shares of WEX by 15.6% in the fourth quarter. CWM LLC now owns 377 shares of the business services provider’s stock worth $73,000 after buying an additional 51 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of WEX by 131.4% in the third quarter. Signaturefd LLC now owns 516 shares of the business services provider’s stock worth $97,000 after buying an additional 293 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

WEX Stock Performance

Shares of NYSE:WEX opened at $211.26 on Wednesday. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 1.31 and a beta of 1.59. The firm’s 50 day simple moving average is $230.36 and its 200 day simple moving average is $204.34. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.06 and a quick ratio of 1.06. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04.

WEX (NYSE:WEX) last announced its quarterly 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). The firm had revenue of $663.30 million during the quarter, compared to analyst estimates of $656.75 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. As a group, sell-side analysts forecast that WEX Inc. will post 13.55 earnings per share for the current year.

Insider Activity at WEX

In other WEX news, insider Ann Elena Drew sold 4,531 shares of WEX stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $218.03, for a total value of $987,893.93. Following the transaction, the insider now owns 3,653 shares of the company’s stock, valued at $796,463.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other WEX news, CEO Melissa D. Smith sold 13,000 shares of WEX stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.33, for a total value of $2,890,290.00. Following the transaction, the chief executive officer now owns 81,998 shares of the company’s stock, valued at $18,230,615.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ann Elena Drew sold 4,531 shares of WEX stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $218.03, for a total transaction of $987,893.93. Following the completion of the transaction, the insider now directly owns 3,653 shares in the company, valued at approximately $796,463.59. The disclosure for this sale can be found here. Insiders have sold 28,326 shares of company stock worth $6,281,961 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WEX. Robert W. Baird boosted their price objective on shares of WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. TheStreet upgraded shares of WEX from a “c” rating to a “b” rating in a research note on Thursday, February 8th. Jefferies Financial Group upped their target price on shares of WEX from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Evercore ISI upped their target price on shares of WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, Truist Financial increased their price objective on shares of WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, WEX has an average rating of “Moderate Buy” and an average target price of $240.00.

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.