WEX Inc. (NYSE:WEX) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,941 shares of the business services provider's stock after selling 5,561 shares during the quarter. Rhumbline Advisers owned about 0.34% of WEX worth $18,048,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WEX. GAMMA Investing LLC raised its position in WEX by 27,871.3% in the first quarter. GAMMA Investing LLC now owns 69,089 shares of the business services provider's stock valued at $10,848,000 after purchasing an additional 68,842 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of WEX by 298.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,769 shares of the business services provider's stock worth $2,239,000 after purchasing an additional 9,561 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in WEX in the 4th quarter valued at about $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in WEX by 11.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,971 shares of the business services provider's stock valued at $34,007,000 after buying an additional 19,534 shares during the last quarter. Finally, Vident Advisory LLC lifted its position in WEX by 4.3% in the fourth quarter. Vident Advisory LLC now owns 8,497 shares of the business services provider's stock valued at $1,490,000 after buying an additional 354 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at WEX

In other WEX news, CEO Melissa D. Smith bought 3,721 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was purchased at an average price of $134.57 per share, for a total transaction of $500,734.97. Following the completion of the purchase, the chief executive officer now directly owns 101,182 shares in the company, valued at $13,616,061.74. This trade represents a 3.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer Kimball sold 1,400 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $131.08, for a total transaction of $183,512.00. Following the completion of the transaction, the chief accounting officer now owns 3,177 shares in the company, valued at $416,441.16. This represents a 30.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

WEX Stock Up 0.2%

NYSE:WEX traded up $0.33 during midday trading on Monday, reaching $138.91. The company had a trading volume of 493,545 shares, compared to its average volume of 570,176. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 2.06 and a beta of 1.22. The stock's fifty day simple moving average is $130.68 and its 200-day simple moving average is $155.82. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.11. WEX had a net margin of 11.78% and a return on equity of 32.35%. The company had revenue of $636.60 million during the quarter, compared to the consensus estimate of $631.42 million. During the same quarter in the previous year, the firm earned $3.46 earnings per share. The firm's quarterly revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

WEX has been the topic of several recent analyst reports. Jefferies Financial Group upped their price objective on shares of WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a report on Tuesday, May 27th. Barclays decreased their price target on WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Monday, February 10th. Oppenheimer started coverage on WEX in a research report on Thursday, May 15th. They set a "market perform" rating for the company. Mizuho cut their price objective on WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Finally, Wells Fargo & Company decreased their target price on WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, WEX presently has a consensus rating of "Hold" and an average target price of $176.90.

WEX 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.