WEX Inc. (NYSE:WEX) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC decreased its position in WEX Inc. (NYSE:WEX - Free Report) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,708 shares of the business services provider's stock after selling 8,059 shares during the period. Peregrine Capital Management LLC owned about 0.11% of WEX worth $9,087,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WEX. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in WEX by 111.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider's stock worth $170,000 after buying an additional 500 shares in the last quarter. Bank of Montreal Can boosted its holdings in WEX by 8.1% during the first quarter. Bank of Montreal Can now owns 4,181 shares of the business services provider's stock worth $732,000 after buying an additional 315 shares in the last quarter. BlackRock Inc. boosted its holdings in WEX by 1.2% during the first quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider's stock worth $732,950,000 after buying an additional 49,480 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in WEX by 8.1% during the first quarter. Great West Life Assurance Co. Can now owns 24,375 shares of the business services provider's stock worth $4,471,000 after buying an additional 1,824 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in WEX by 38.3% during the first quarter. Sei Investments Co. now owns 21,260 shares of the business services provider's stock worth $3,793,000 after buying an additional 5,884 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Trading Up 0.3 %

Shares of NYSE:WEX traded up $0.72 during trading on Wednesday, reaching $240.59. The stock had a trading volume of 261,387 shares, compared to its average volume of 304,061. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The business has a fifty day moving average price of $225.68 and a 200-day moving average price of $200.38. The stock has a market cap of $10.04 billion, a P/E ratio of 39.06, a PEG ratio of 1.56 and a beta of 1.59. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55.

WEX (NYSE:WEX - Get Free Report) last released its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.29 by ($0.15). WEX had a net margin of 10.46% and a return on equity of 31.33%. The company had revenue of $663.30 million during the quarter, compared to analysts' expectations of $656.75 million. As a group, analysts anticipate that WEX Inc. will post 13.51 earnings per share for the current fiscal year.

Insider Activity at WEX

In related news, CFO Jagtar Narula sold 309 shares of the business's 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 $1,289,350.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other WEX news, COO Robert Joseph Deshaies sold 1,500 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $221.85, for a total transaction of $332,775.00. Following the completion of the sale, the chief operating officer now directly owns 5,570 shares in the company, valued at $1,235,704.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jagtar Narula sold 309 shares of the business's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the sale, the chief financial officer now owns 5,528 shares of the company's stock, valued at $1,289,350.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,433 shares of company stock worth $14,708,896. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WEX. StockNews.com cut shares of WEX from a "buy" rating to a "hold" rating in a research report on Tuesday, March 26th. Truist Financial lifted their target price on shares of WEX from $185.00 to $220.00 and gave the stock a "hold" rating in a research report on Friday, February 9th. William Blair restated an "outperform" rating on shares of WEX in a research report on Thursday, February 8th. Evercore ISI lifted their target price on shares of WEX from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of WEX from $205.00 to $239.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $230.77.

About WEX

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.