WEX Inc. (NYSE:WEX) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lessened its stake in WEX Inc. (NYSE:WEX) by 45.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 741 shares of the business services provider’s stock after selling 613 shares during the period. Harvest Fund Management Co. Ltd’s holdings in WEX were worth $144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CWM LLC increased its holdings in shares of WEX by 15.6% in the fourth quarter. CWM LLC now owns 377 shares of the business services provider’s stock valued at $73,000 after purchasing an additional 51 shares during the last quarter. VisionPoint Advisory Group LLC grew its position in 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 acquiring an additional 62 shares during the period. Bath Savings Trust Co grew its position in WEX by 0.3% in the fourth quarter. Bath Savings Trust Co now owns 27,284 shares of the business services provider’s stock worth $5,308,000 after acquiring an additional 80 shares during the period. Arizona State Retirement System grew its position in WEX by 0.7% in the third quarter. Arizona State Retirement System now owns 12,198 shares of the business services provider’s stock worth $2,294,000 after acquiring an additional 83 shares during the period. Finally, Wendell David Associates Inc. grew its position in WEX by 7.9% in the third quarter. Wendell David Associates Inc. now owns 1,189 shares of the business services provider’s stock worth $224,000 after acquiring an additional 87 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Insider Buying and Selling at WEX

In other WEX news, SVP Sara Trickett sold 887 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other WEX news, SVP Sara Trickett sold 887 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Hilary A. Rapkin sold 5,800 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $222.55, for a total value of $1,290,790.00. Following the completion of the sale, the insider now owns 10,569 shares in the company, valued at $2,352,130.95. The disclosure for this sale can be found here. Insiders have sold a total of 28,326 shares of company stock worth $6,281,961 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

WEX Trading Down 9.1 %

NYSE:WEX opened at $212.00 on Thursday. The firm has a market cap of $8.85 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 1.51 and a beta of 1.59. The stock has a fifty day moving average price of $230.52 and a 200 day moving average price of $203.29. WEX Inc. has a 12-month low of $161.95 and a 12-month high of $244.04. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55.

WEX (NYSE:WEX) 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). The company had revenue of $663.30 million during the quarter, compared to analysts’ expectations of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. Sell-side analysts anticipate that WEX Inc. will post 13.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on WEX shares. Mizuho increased their price objective on WEX from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. StockNews.com lowered WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Evercore ISI increased their price objective on WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Truist Financial raised their price target on WEX from $185.00 to $220.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, William Blair restated an “outperform” rating on shares of WEX in a research report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, WEX has an average rating of “Moderate Buy” and a consensus price target 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.