Handelsinvest Investeringsforvaltning Has $287,000 Stake in WEX Inc. (NYSE:WEX)

Handelsinvest Investeringsforvaltning reduced its holdings in WEX Inc. (NYSE:WEX) by 34.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,208 shares of the business services provider’s stock after selling 628 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in WEX were worth $287,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of WEX by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock valued at $816,919,000 after buying an additional 67,893 shares during the period. Wellington Management Group LLP raised its stake in shares of WEX by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after purchasing an additional 179,813 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of WEX by 4.2% in the third quarter. JPMorgan Chase & Co. now owns 1,324,624 shares of the business services provider’s stock valued at $249,149,000 after purchasing an additional 52,897 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of WEX by 2.7% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock worth $177,076,000 after buying an additional 22,865 shares in the last quarter. Finally, Norges Bank acquired a new stake in WEX in the 4th quarter valued at approximately $89,745,000. 97.47% of the stock is owned by institutional investors.

WEX Price Performance

WEX stock traded up $0.48 during trading on Wednesday, reaching $179.47. 15,164 shares of the company were exchanged, compared to its average volume of 323,765. The company has a 50-day moving average of $190.96 and a two-hundred day moving average of $207.60. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 29.10, a P/E/G ratio of 1.03 and a beta of 1.55. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.06 and a quick ratio of 1.06.

WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.15. WEX had a net margin of 10.21% and a return on equity of 30.92%. The firm had revenue of $652.70 million during the quarter, compared to analysts’ expectations of $653.52 million. As a group, equities analysts predict that WEX Inc. will post 13.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

WEX has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price objective on shares of WEX from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, April 12th. Wells Fargo & Company started coverage on WEX in a research report on Wednesday, June 5th. They set an “equal weight” rating and a $200.00 price target on the stock. Barclays increased their price objective on WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. StockNews.com downgraded shares of WEX from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Finally, Evercore ISI boosted their price objective on shares of WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $237.14.

Insider Transactions at WEX

In other news, SVP Sara Trickett sold 734 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total transaction of $154,455.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Sara Trickett sold 734 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total transaction of $154,455.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert Joseph Deshaies sold 1,897 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $211.01, for a total value of $400,285.97. Following the completion of the transaction, the chief operating officer now directly owns 9,408 shares in the company, valued at $1,985,182.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,831 shares of company stock worth $808,602. Company insiders own 1.10% of the company’s stock.

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.