46,862 WEX Inc. $WEX Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in WEX Inc. (NYSE:WEX) by 12.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,476 shares of the business services provider’s stock after selling 46,862 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in WEX were worth $54,064,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Fifth Third Wealth Advisors LLC boosted its position in shares of WEX by 6.4% during the third quarter. Fifth Third Wealth Advisors LLC now owns 6,600 shares of the business services provider’s stock valued at $1,113,000 after buying an additional 398 shares during the last quarter. Root Financial Partners LLC bought a new stake in WEX during the third quarter worth $25,000. Reyes Financial Architecture Inc. bought a new stake in WEX during the third quarter worth $47,000. Nisa Investment Advisors LLC raised its position in WEX by 14.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 13,489 shares of the business services provider’s stock valued at $2,276,000 after buying an additional 1,748 shares during the last quarter. Finally, Net Worth Advisory Group raised its position in WEX by 8.6% in the 3rd quarter. Net Worth Advisory Group now owns 1,551 shares of the business services provider’s stock valued at $262,000 after buying an additional 123 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on WEX. Weiss Ratings upgraded shares of WEX from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Keefe, Bruyette & Woods raised their price target on shares of WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Mizuho boosted their price target on shares of WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of WEX in a research report on Thursday, September 24th. Finally, Cantor Fitzgerald set a $178.00 price objective on shares of WEX in a research note on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $186.40.

WEX Stock Up 0.1%

Shares of NYSE WEX opened at $197.72 on Monday. The business has a 50-day moving average of $186.76 and a 200-day moving average of $166.79. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.01 and a beta of 0.84. WEX Inc. has a 12 month low of $125.29 and a 12 month high of $203.99. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.62.

Insider Buying and Selling

In other WEX news, COO Joel Dearborn, Jr. sold 3,343 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $200.00, for a total value of $668,600.00. Following the transaction, the chief operating officer owned 17,021 shares in the company, valued at approximately $3,404,200. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Robert Deshaies sold 2,000 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $173.56, for a total value of $347,120.00. Following the completion of the sale, the chief operating officer owned 17,288 shares of the company’s stock, valued at approximately $3,000,505.28. This trade represents a 10.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 35,527 shares of company stock worth $6,743,860. Company insiders own 1.40% of the company’s stock.

About WEX

WEX Inc (NYSE:WEX) is a financial technology company that provides payment-processing and business-management solutions. Its products are designed to help organizations manage corporate spending, employee benefits and mobility-related expenses through specialized payment accounts, software and data tools.

WEX’s mobility business serves commercial vehicle fleets with fuel cards, fleet-payment programs, expense controls, telematics integrations and related solutions. The company also supports emerging mobility needs, including electric-vehicle charging payments.