WEX Inc. (NYSE:WEX) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in WEX Inc. (NYSE:WEX - Free Report) by 31.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,220 shares of the business services provider's stock after selling 6,196 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in WEX were worth $2,076,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WEX. JPMorgan Chase & Co. lifted its position in shares of WEX by 105.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider's stock worth $358,812,000 after acquiring an additional 1,052,087 shares during the period. Norges Bank bought a new position in WEX during the 4th quarter worth approximately $80,535,000. D. E. Shaw & Co. Inc. increased its stake in WEX by 1,684.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 201,922 shares of the business services provider's stock worth $35,401,000 after purchasing an additional 190,605 shares in the last quarter. Ariel Investments LLC grew its stake in shares of WEX by 113.0% during the 4th quarter. Ariel Investments LLC now owns 318,272 shares of the business services provider's stock worth $55,799,000 after acquiring an additional 168,832 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of WEX by 5,562.2% during the 4th quarter. AQR Capital Management LLC now owns 151,125 shares of the business services provider's stock worth $26,117,000 after purchasing an additional 148,456 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Trading Up 6.4%

NYSE:WEX traded up $10.44 during midday trading on Thursday, hitting $173.84. 1,421,251 shares of the company traded hands, compared to its average volume of 419,662. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47. The firm has a market capitalization of $5.95 billion, a P/E ratio of 21.98, a P/E/G ratio of 2.52 and a beta of 1.23. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.06. The firm's fifty day moving average is $143.84 and its 200-day moving average is $149.13.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.11. The company had revenue of $636.60 million during the quarter, compared to analyst estimates of $631.42 million. WEX had a net margin of 11.79% and a return on equity of 39.13%. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $3.46 EPS. On average, sell-side analysts predict that WEX Inc. will post 14.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WEX shares. Wells Fargo & Company lowered their price objective on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Jefferies Financial Group raised their price target on WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a report on Tuesday, May 27th. UBS Group dropped their target price on WEX from $172.00 to $138.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Robert W. Baird boosted their price objective on shares of WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft started coverage on WEX in a research report on Thursday, July 17th. They set a "hold" rating and a $150.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $175.55.

Insider Buying and Selling at WEX

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

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.