Two Sigma Investments LP Decreases Stock Holdings in WEX Inc. (NYSE:WEX)

Two Sigma Investments LP reduced its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 92.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,227 shares of the business services provider's stock after selling 15,193 shares during the period. Two Sigma Investments LP's holdings in WEX were worth $215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WEX. State of Wyoming bought a new position in WEX in the 4th quarter valued at $35,000. Jones Financial Companies Lllp boosted its holdings in shares of WEX by 108.4% in the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock worth $43,000 after buying an additional 129 shares during the last quarter. Quadrant Capital Group LLC raised its position in WEX by 72.2% in the fourth quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider's stock worth $48,000 after acquiring an additional 114 shares during the period. Smartleaf Asset Management LLC raised its position in WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after acquiring an additional 66 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in WEX in the fourth quarter valued at about $74,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Price Performance

Shares of WEX stock traded down $1.21 on Friday, reaching $138.83. The company's stock had a trading volume of 393,829 shares, compared to its average volume of 782,896. The company has a market capitalization of $4.75 billion, a P/E ratio of 18.51, a PEG ratio of 2.06 and a beta of 1.22. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47. The stock's 50 day simple moving average is $130.87 and its 200-day simple moving average is $154.97. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.11. The business had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. WEX had a return on equity of 32.35% and a net margin of 11.78%. The company's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.46 EPS. As a group, equities analysts predict that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Insider Transactions at WEX

In related news, CAO Jennifer Kimball sold 1,400 shares of WEX stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $131.08, for a total value of $183,512.00. Following the transaction, the chief accounting officer now owns 3,177 shares in the company, valued at $416,441.16. This trade represents a 30.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Melissa D. Smith acquired 3,721 shares of WEX stock in a transaction dated Thursday, May 29th. The shares were bought at an average cost 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 of the company's stock, valued at approximately $13,616,061.74. The trade was a 3.82% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Jefferies Financial Group upped their price objective on WEX from $130.00 to $135.00 and gave the company a "hold" rating in a research note on Tuesday, May 27th. Robert W. Baird set a $186.00 price target on WEX in a research note on Tuesday, February 18th. UBS Group lowered their price objective on WEX from $172.00 to $138.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Oppenheimer assumed coverage on shares of WEX in a research report on Thursday, May 15th. They set a "market perform" rating for the company. Finally, Wells Fargo & Company cut their price objective on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.