Harvest Fund Management Co. Ltd Cuts Stake in WEX Inc. (NYSE:WEX)

Harvest Fund Management Co. Ltd lowered its position in WEX Inc. (NYSE:WEX) by 45.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 741 shares of the business services provider’s stock after selling 613 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in WEX were worth $144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in WEX by 19,044.7% in the fourth 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. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in WEX by 2.7% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock valued at $177,076,000 after purchasing an additional 22,865 shares during the last quarter. Handelsbanken Fonder AB lifted its position in WEX by 2,524.0% in the fourth quarter. Handelsbanken Fonder AB now owns 163,844 shares of the business services provider’s stock valued at $31,876,000 after purchasing an additional 157,600 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in WEX by 56.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 141,287 shares of the business services provider’s stock valued at $26,575,000 after purchasing an additional 50,771 shares during the last quarter. Finally, Burney Co. lifted its position in WEX by 131.1% in the third quarter. Burney Co. now owns 21,120 shares of the business services provider’s stock valued at $3,972,000 after purchasing an additional 11,983 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Trading Down 9.1 %

WEX stock opened at $212.00 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. WEX Inc. has a one year low of $161.95 and a one year high of $244.04. The stock has a market capitalization of $8.85 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 1.51 and a beta of 1.59. The business’s fifty day moving average is $230.52 and its 200 day moving average is $203.29.

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

Insiders Place Their Bets

In other WEX news, insider Ann Elena Drew sold 4,531 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total value of $987,893.93. Following the transaction, the insider now directly owns 3,653 shares of the company’s stock, valued at $796,463.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Ann Elena Drew sold 4,531 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total value of $987,893.93. Following the transaction, the insider now owns 3,653 shares of the company’s stock, valued at $796,463.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer Kimball sold 574 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $222.24, for a total value of $127,565.76. Following the completion of the transaction, the chief accounting officer now directly owns 1,297 shares in the company, valued at approximately $288,245.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,326 shares of company stock valued at $6,281,961. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

WEX has been the subject of several recent research reports. Barclays boosted their price objective on WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price objective on WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Evercore ISI boosted their price objective on WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. TheStreet upgraded WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Finally, Jefferies Financial Group boosted their price objective on WEX from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $240.00.

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.