Swiss National Bank Reduces Position in WEX Inc. (NYSE:WEX)

Swiss National Bank reduced its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,726 shares of the business services provider's stock after selling 9,400 shares during the quarter. Swiss National Bank owned approximately 0.20% of WEX worth $16,483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in WEX in the fourth quarter valued at about $27,000. VisionPoint Advisory Group LLC raised its stake in shares of WEX by 74.7% in the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider's stock worth $27,000 after purchasing an additional 62 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of WEX by 896.8% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the business services provider's stock worth $58,000 after purchasing an additional 278 shares during the last quarter. CWM LLC raised its stake in shares of WEX by 15.6% in the fourth quarter. CWM LLC now owns 377 shares of the business services provider's stock worth $73,000 after purchasing an additional 51 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in WEX by 131.4% during the third quarter. Signaturefd LLC now owns 516 shares of the business services provider's stock worth $97,000 after acquiring an additional 293 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at WEX

In related news, CEO Melissa D. Smith sold 13,000 shares of WEX stock in a transaction on Friday, February 16th. The stock was sold at an average price of $222.33, for a total transaction of $2,890,290.00. Following the completion of the sale, the chief executive officer now owns 81,998 shares of the company's stock, valued at $18,230,615.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other WEX news, CEO Melissa D. Smith sold 13,000 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $222.33, for a total value of $2,890,290.00. Following the completion of the sale, the chief executive officer now owns 81,998 shares of the company's stock, valued at $18,230,615.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Robert Joseph Deshaies sold 1,897 shares of the business's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $211.01, for a total value of $400,285.97. Following the completion of the sale, the chief operating officer now directly owns 9,408 shares of the company's stock, valued at approximately $1,985,182.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,157 shares of company stock valued at $7,090,562. Insiders own 1.10% of the company's stock.

WEX Stock Down 0.8 %

Shares of WEX stock traded down $1.70 on Friday, reaching $206.67. 335,801 shares of the company's stock traded hands, compared to its average volume of 307,129. WEX Inc. has a 12-month low of $161.95 and a 12-month high of $244.04. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $8.66 billion, a P/E ratio of 33.89, a price-to-earnings-growth ratio of 1.21 and a beta of 1.60. The business's 50 day moving average price is $228.92 and its two-hundred day moving average price is $205.06.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. On average, equities analysts forecast that WEX Inc. will post 13.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WEX has been the topic of several research reports. William Blair restated an "outperform" rating on shares of WEX in a research report on Thursday, February 8th. Mizuho lifted their price objective on WEX from $225.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, February 13th. Barclays boosted their target price on WEX from $255.00 to $280.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. boosted their target price on WEX from $205.00 to $239.00 and gave the company a "neutral" rating in a report on Friday, February 9th. Finally, Evercore ISI upped their price target on WEX from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Tuesday, March 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $240.00.

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.