Boston Partners Cuts Stock Holdings in WEX Inc. (NYSE:WEX)

Boston Partners lowered its stake in shares of WEX Inc. (NYSE:WEX) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,332 shares of the business services provider’s stock after selling 2,258 shares during the quarter. Boston Partners owned 0.09% of WEX worth $8,760,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC raised its holdings in shares of WEX by 7.8% in the fourth quarter. SG Americas Securities LLC now owns 1,845 shares of the business services provider’s stock valued at $359,000 after purchasing an additional 134 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in WEX by 5.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,893 shares of the business services provider’s stock valued at $368,000 after buying an additional 94 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of WEX by 19,044.7% during the 4th quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock worth $7,002,000 after buying an additional 35,804 shares in the last quarter. Boit C F David boosted its stake in shares of WEX by 13.0% in the 4th quarter. Boit C F David now owns 1,740 shares of the business services provider’s stock worth $338,000 after buying an additional 200 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of WEX by 0.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 23,358 shares of the business services provider’s stock valued at $4,544,000 after acquiring an additional 200 shares in the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WEX. Wells Fargo & Company cut their price objective on WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Citigroup increased their price target on shares of WEX from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of WEX from $246.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. William Blair raised shares of WEX to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Barclays lifted their price target on shares of WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $240.42.

Insider Buying and Selling at WEX

In related news, CFO Jagtar Narula sold 540 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the completion of the transaction, the chief financial officer now directly owns 8,168 shares in the company, valued at $1,470,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other WEX news, CFO Jagtar Narula sold 540 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $180.00, for a total value of $97,200.00. Following the completion of the sale, the chief financial officer now owns 8,168 shares of the company’s stock, valued at $1,470,240. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Melanie J. Tinto sold 1,564 shares of WEX stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the transaction, the insider now directly owns 8,461 shares in the company, valued at $1,565,623.44. The disclosure for this sale can be found here. Insiders sold a total of 2,644 shares of company stock worth $489,203 over the last three months. 1.10% of the stock is owned by insiders.

WEX Price Performance

WEX stock traded down $6.78 during mid-day trading on Friday, reaching $173.39. 485,186 shares of the company traded hands, compared to its average volume of 412,195. The company has a fifty day moving average price of $179.53 and a 200-day moving average price of $205.17. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04. The company has a market capitalization of $7.12 billion, a P/E ratio of 28.19, a P/E/G ratio of 1.07 and a beta of 1.54.

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.