Spinnaker Trust Acquires 52,163 Shares of WEX Inc. (NYSE:WEX)

Spinnaker Trust grew its holdings in shares of WEX Inc. (NYSE:WEX) by 387.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,633 shares of the business services provider’s stock after acquiring an additional 52,163 shares during the period. WEX comprises approximately 0.9% of Spinnaker Trust’s holdings, making the stock its 27th largest position. Spinnaker Trust owned about 0.15% of WEX worth $12,769,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of WEX. VisionPoint Advisory Group LLC boosted its holdings in WEX by 74.7% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after buying an additional 62 shares during the period. GAMMA Investing LLC bought a new position in WEX in the 4th quarter worth $27,000. Cary Street Partners Investment Advisory LLC boosted its holdings in WEX by 896.8% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the business services provider’s stock worth $58,000 after buying an additional 278 shares during the period. CWM LLC boosted its holdings in WEX by 15.6% in the 4th quarter. CWM LLC now owns 377 shares of the business services provider’s stock worth $73,000 after buying an additional 51 shares during the period. Finally, Signaturefd LLC boosted its holdings in WEX by 131.4% in the 3rd quarter. Signaturefd LLC now owns 516 shares of the business services provider’s stock worth $97,000 after buying an additional 293 shares during the period. Institutional investors own 97.47% of the company’s stock.

WEX Price Performance

Shares of NYSE WEX traded up $1.55 during mid-day trading on Friday, hitting $216.58. 427,401 shares of the company’s stock traded hands, compared to its average volume of 305,160. The company’s 50-day moving average is $230.69 and its two-hundred day moving average is $203.58. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $9.07 billion, a P/E ratio of 35.35, a PEG ratio of 1.51 and a beta of 1.59. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a return on equity of 31.33% and a net margin of 10.46%. The firm had revenue of $663.30 million during the quarter, compared to analysts’ expectations of $656.75 million. On average, equities analysts anticipate that WEX Inc. will post 13.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on WEX shares. StockNews.com downgraded shares of WEX from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. William Blair reissued an “outperform” rating on shares of WEX in a report on Thursday, February 8th. JPMorgan Chase & Co. increased their price objective on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Jefferies Financial Group increased 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. Finally, Citigroup increased their price objective on shares of WEX from $240.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $240.00.

Insider Buying and Selling

In related news, CEO Melissa D. Smith sold 13,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $222.33, for a total value of $2,890,290.00. Following the sale, the chief executive officer now directly owns 81,998 shares of the company’s stock, valued at approximately $18,230,615.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Melissa D. Smith sold 13,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $222.33, for a total value of $2,890,290.00. Following the sale, the chief executive officer now directly owns 81,998 shares of the company’s stock, valued at approximately $18,230,615.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold 28,326 shares of company stock valued at $6,281,961 in the last ninety days. 1.10% of the stock is owned by company insiders.

WEX 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.