River Road Asset Management LLC Sells 28,638 Shares of WEX Inc. (NYSE:WEX)

River Road Asset Management LLC lowered its holdings in WEX Inc. (NYSE:WEX - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 727,456 shares of the business services provider's stock after selling 28,638 shares during the quarter. WEX comprises about 2.0% of River Road Asset Management LLC's investment portfolio, making the stock its 8th largest position. River Road Asset Management LLC owned 1.70% of WEX worth $141,527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WEX. FinTrust Capital Advisors LLC bought a new stake in shares of WEX during the fourth quarter worth $25,000. VisionPoint Advisory Group LLC raised its position in shares of WEX by 74.7% during the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider's stock worth $27,000 after acquiring an additional 62 shares during the last quarter. Fred Alger Management LLC bought a new stake in shares of WEX during the third quarter worth $34,000. International Assets Investment Management LLC bought a new stake in shares of WEX during the third quarter worth $37,000. Finally, State of Wyoming bought a new stake in shares of WEX during the second quarter worth $38,000. Institutional investors and hedge funds own 97.47% of the company's stock.

Insider Transactions at WEX

In other news, SVP Sara Trickett sold 887 shares of the company's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $224.61, for a total transaction of $199,229.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Sara Trickett sold 887 shares of the company's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $224.61, for a total transaction of $199,229.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jagtar Narula sold 309 shares of the company's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the transaction, the chief financial officer now directly owns 5,528 shares of the company's stock, valued at $1,289,350.72. The disclosure for this sale can be found here. Insiders sold 69,433 shares of company stock valued at $14,708,896 over the last three months. Company insiders own 1.10% of the company's stock.

WEX Trading Down 1.6 %

NYSE:WEX traded down $3.67 on Wednesday, reaching $229.85. The company's stock had a trading volume of 256,447 shares, compared to its average volume of 299,202. WEX Inc. has a 1-year low of $161.95 and a 1-year high of $244.04. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $9.59 billion, a PE ratio of 37.31, a PEG ratio of 1.51 and a beta of 1.59. The business's 50-day moving average price is $228.84 and its two-hundred day moving average price is $201.82.

WEX (NYSE:WEX - Get Free Report) last posted 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). The business had revenue of $663.30 million during the quarter, compared to analyst estimates of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. Equities research analysts anticipate that WEX Inc. will post 13.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Mizuho boosted their target price on WEX from $225.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, February 13th. Evercore ISI upped their price objective on WEX from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. upped their price objective on WEX from $205.00 to $239.00 and gave the company a "neutral" rating in a report on Friday, February 9th. Truist Financial upped their price objective on WEX from $185.00 to $220.00 and gave the company a "hold" rating in a report on Friday, February 9th. Finally, Robert W. Baird upped their price objective on WEX from $272.00 to $285.00 and gave the company an "outperform" rating in a report on Monday. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, WEX currently has an average rating of "Moderate Buy" and a consensus price target of $240.00.

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.