Dana Investment Advisors Inc. Cuts Stock Holdings in WEX Inc. (NYSE:WEX)

Dana Investment Advisors Inc. reduced its stake in WEX Inc. (NYSE:WEX) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,611 shares of the business services provider’s stock after selling 388 shares during the quarter. Dana Investment Advisors Inc. owned about 0.07% of WEX worth $5,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Treasurer of the State of North Carolina lifted its holdings in shares of WEX by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 18,965 shares of the business services provider’s stock worth $3,690,000 after acquiring an additional 190 shares during the last quarter. KBC Group NV bought a new stake in WEX during the fourth quarter worth about $163,000. CIBC Private Wealth Group LLC boosted its holdings in shares of WEX by 6.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,771 shares of the business services provider’s stock worth $734,000 after purchasing an additional 219 shares in the last quarter. CenterBook Partners LP increased its position in shares of WEX by 277.8% during the 4th quarter. CenterBook Partners LP now owns 16,518 shares of the business services provider’s stock valued at $3,214,000 after purchasing an additional 12,146 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of WEX by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after buying an additional 179,813 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

Insider Transactions at WEX

In related news, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Melanie J. Tinto sold 1,564 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the completion of the sale, the insider now directly owns 8,461 shares in the company, valued at $1,565,623.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,985 shares of company stock valued at $1,094,907. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

WEX has been the subject of several research reports. Wells Fargo & Company cut their target price on WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, July 26th. William Blair raised shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. decreased their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods cut their price target on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.58.

WEX Stock Down 0.2 %

NYSE WEX opened at $209.38 on Wednesday. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04. The stock has a market capitalization of $8.60 billion, a PE ratio of 34.05, a PEG ratio of 1.24 and a beta of 1.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50-day moving average is $187.85 and its 200 day moving average is $197.82.

WEX (NYSE:WEX) last posted its earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.09. WEX had a return on equity of 31.05% and a net margin of 9.32%. The firm had revenue of $673.50 million for the quarter, compared to analysts’ expectations of $677.44 million. Sell-side analysts forecast that WEX Inc. will post 13.75 earnings per share for the current year.

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.