Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 4,261 Shares of WEX Inc. (NYSE:WEX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in WEX Inc. (NYSE:WEX) by 0.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 909,989 shares of the business services provider’s stock after selling 4,261 shares during the period. WEX makes up about 1.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 18th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in WEX were worth $190,852,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in WEX by 0.7% during the second quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock worth $1,847,000 after buying an additional 68 shares during the period. Ballentine Partners LLC raised its holdings in WEX by 3.3% in the second quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock worth $396,000 after purchasing an additional 72 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of WEX by 40.7% during the third quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after acquiring an additional 87 shares during the last quarter. Cozad Asset Management Inc. grew its stake in shares of WEX by 2.1% during the first quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider’s stock worth $1,148,000 after acquiring an additional 100 shares during the last quarter. Finally, Long Road Investment Counsel LLC grew its stake in shares of WEX by 0.4% during the second quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider’s stock worth $4,729,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Bank of America upped their target price on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. William Blair raised WEX to a “strong-buy” rating in a report on Friday, July 26th. Wells Fargo & Company decreased their price target on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their price target on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Finally, Robert W. Baird decreased their price target on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, WEX currently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

WEX Stock Performance

Shares of WEX stock traded up $1.68 during midday trading on Wednesday, hitting $174.84. The company had a trading volume of 31,724 shares, compared to its average volume of 354,293. The company’s 50 day simple moving average is $199.51 and its 200 day simple moving average is $193.08. WEX Inc. has a 52-week low of $162.97 and a 52-week high of $244.04. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 1.24 and a beta of 1.55. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04.

WEX (NYSE:WEX) last posted its earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. During the same quarter in the prior year, the company earned $3.44 EPS. WEX’s revenue was up 2.2% on a year-over-year basis. Research analysts anticipate that WEX Inc. will post 13.65 earnings per share for the current fiscal year.

Insider Transactions at WEX

In other WEX news, insider Ann Elena Drew sold 1,182 shares of WEX stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the transaction, the insider now directly owns 5,584 shares in the company, valued at $964,524.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the sale, the insider now owns 5,584 shares of the company’s stock, valued at $964,524.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value of $299,937.17. Following the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at approximately $1,409,214.19. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,341 shares of company stock valued at $605,704. 1.10% of the stock is currently owned by 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.