Truvestments Capital LLC Trims Stake in WEX Inc. (NYSE:WEX)

Truvestments Capital LLC cut its stake in WEX Inc. (NYSE:WEX) by 16.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,608 shares of the business services provider’s stock after selling 314 shares during the period. Truvestments Capital LLC’s holdings in WEX were worth $337,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Loomis Sayles & Co. L P lifted its stake in shares of WEX by 5.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 308,065 shares of the business services provider’s stock valued at $64,611,000 after purchasing an additional 16,739 shares during the period. Fisher Asset Management LLC raised its holdings in WEX by 25.0% in the third quarter. Fisher Asset Management LLC now owns 30,840 shares of the business services provider’s stock worth $6,468,000 after purchasing an additional 6,167 shares in the last quarter. Sompo Asset Management Co. Ltd. purchased a new position in WEX during the third quarter valued at $329,000. Factorial Partners LLC bought a new stake in shares of WEX during the 3rd quarter valued at $2,244,000. Finally, Commerce Bank grew its position in shares of WEX by 1.7% in the 3rd quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock worth $760,000 after buying an additional 60 shares during the period. 97.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

WEX has been the topic of a number of recent research reports. Bank of America increased their target price on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company cut their price objective on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Jefferies Financial Group lifted their target price on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird cut their price target on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.91.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 6.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

WEX Stock Performance

WEX opened at $188.15 on Tuesday. The company’s 50 day moving average is $196.01 and its 200 day moving average is $187.80. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 1.47 and a beta of 1.57. WEX Inc. has a 12-month low of $165.51 and a 12-month high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $3.82 by $0.53. The business had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.44 EPS. On average, equities research analysts predict that WEX Inc. will post 13.1 EPS for the current year.

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.