Coldstream Capital Management Inc. Decreases Stock Position in WEX Inc. (NYSE:WEX)

Coldstream Capital Management Inc. cut its stake in WEX Inc. (NYSE:WEX) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,623 shares of the business services provider’s stock after selling 67 shares during the period. Coldstream Capital Management Inc.’s holdings in WEX were worth $316,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WEX. VisionPoint Advisory Group LLC boosted its holdings in 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 period. GAMMA Investing LLC acquired a new stake in WEX in the fourth quarter valued at $27,000. Principal Securities Inc. acquired a new stake in WEX in the fourth quarter valued at $31,000. Cary Street Partners Investment Advisory LLC raised its stake in 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 valued at $58,000 after buying an additional 278 shares in the last quarter. Finally, CWM LLC raised its stake in WEX by 15.6% in the fourth quarter. CWM LLC now owns 377 shares of the business services provider’s stock valued at $73,000 after buying an additional 51 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WEX shares. William Blair restated an “outperform” rating on shares of WEX in a research note on Thursday, February 8th. Barclays raised their price target on WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Mizuho raised their price target on WEX from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Citigroup raised their price target on WEX from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group lifted their target price on WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

WEX Stock Performance

NYSE WEX opened at $187.76 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.73. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04. The business’s 50-day moving average price is $222.27 and its 200 day moving average price is $207.00. The firm has a market cap of $7.87 billion, a P/E ratio of 30.53, a P/E/G ratio of 1.09 and a beta of 1.60.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.15. WEX had a return on equity of 30.92% and a net margin of 10.21%. The firm had revenue of $652.70 million for the quarter, compared to analyst estimates of $653.52 million. On average, equities research analysts expect that WEX Inc. will post 13.98 earnings per share for the current year.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 309 shares of WEX stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the sale, the chief financial officer now owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other WEX news, SVP Sara Trickett sold 734 shares of WEX stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total value of $154,455.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jagtar Narula sold 309 shares of WEX 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 sale, the chief financial officer now directly owns 5,528 shares in the company, valued at approximately $1,289,350.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,865 shares of company stock valued at $1,262,019. 1.10% of the stock is owned by corporate insiders.

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.