Bridgewater Associates LP Has $1.92 Million Holdings in WEX Inc. (NYSE:WEX)

Bridgewater Associates LP lessened its holdings in WEX Inc. (NYSE:WEX) by 89.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,152 shares of the business services provider’s stock after selling 77,226 shares during the period. Bridgewater Associates LP’s holdings in WEX were worth $1,919,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Cetera Investment Advisers increased its position in WEX by 856.0% during the 1st quarter. Cetera Investment Advisers now owns 13,289 shares of the business services provider’s stock worth $3,157,000 after purchasing an additional 11,899 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of WEX during the first quarter worth $327,000. Trust Co. of Vermont bought a new position in shares of WEX in the 2nd quarter valued at $94,000. Harbor Capital Advisors Inc. boosted its holdings in shares of WEX by 256.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 11,765 shares of the business services provider’s stock valued at $2,084,000 after acquiring an additional 8,466 shares in the last quarter. Finally, CWM LLC grew its position in WEX by 37.3% during the 2nd quarter. CWM LLC now owns 453 shares of the business services provider’s stock worth $80,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Performance

Shares of WEX opened at $188.66 on Friday. The firm’s fifty day simple moving average is $194.50 and its two-hundred day simple moving average is $187.42. WEX Inc. has a 12 month low of $165.51 and a 12 month high of $244.04. 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 stock has a market capitalization of $7.50 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 1.50 and a beta of 1.57.

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

Analyst Ratings Changes

WEX has been the subject of several research reports. Robert W. Baird dropped their target price on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company dropped their price objective on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Jefferies Financial Group boosted 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. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $235.91.

Insider Activity at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

WEX Company 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.