Janus Henderson Group PLC Cuts Position in WEX Inc (NYSE:WEX)

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Janus Henderson Group PLC lessened its position in shares of WEX Inc (NYSE:WEX) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,618,883 shares of the business services provider’s stock after selling 190,211 shares during the quarter. Janus Henderson Group PLC owned about 8.37% of WEX worth $753,090,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WEX. Geode Capital Management LLC raised its position in shares of WEX by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 405,047 shares of the business services provider’s stock valued at $56,730,000 after purchasing an additional 23,136 shares during the period. Bank of Montreal Can raised its position in shares of WEX by 9.2% in the first quarter. Bank of Montreal Can now owns 180,033 shares of the business services provider’s stock valued at $34,565,000 after purchasing an additional 15,161 shares during the period. Whittier Trust Co. raised its position in shares of WEX by 48.3% in the first quarter. Whittier Trust Co. now owns 3,070 shares of the business services provider’s stock valued at $589,000 after purchasing an additional 1,000 shares during the period. Quantamental Technologies LLC acquired a new position in shares of WEX in the first quarter valued at about $324,000. Finally, Dupont Capital Management Corp grew its stake in shares of WEX by 323.2% in the first quarter. Dupont Capital Management Corp now owns 14,745 shares of the business services provider’s stock valued at $2,831,000 after acquiring an additional 11,261 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

In other news, insider Scott Robert Phillips sold 15,973 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $208.44, for a total value of $3,329,412.12. Following the sale, the insider now directly owns 9,850 shares in the company, valued at approximately $2,053,134. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.12% of the company’s stock.

Shares of WEX stock opened at $199.45 on Thursday. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.63 and a beta of 1.55. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.50. WEX Inc has a 12-month low of $131.35 and a 12-month high of $221.66. The firm’s 50-day moving average price is $208.24 and its two-hundred day moving average price is $197.76.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.20. The firm had revenue of $441.81 million for the quarter, compared to the consensus estimate of $440.49 million. WEX had a net margin of 6.84% and a return on equity of 17.88%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 earnings per share. On average, sell-side analysts expect that WEX Inc will post 8.38 earnings per share for the current year.

Several equities analysts recently commented on WEX shares. Citigroup set a $260.00 price target on shares of WEX and gave the company a “buy” rating in a research note on Friday, July 19th. TheStreet downgraded shares of WEX from a “b” rating to a “c+” rating in a research note on Monday, August 5th. Deutsche Bank upped their price target on shares of WEX from $209.00 to $223.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Zacks Investment Research upgraded shares of WEX from a “hold” rating to a “buy” rating and set a $214.00 price target on the stock in a research note on Saturday, June 15th. Finally, ValuEngine downgraded shares of WEX from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. WEX currently has an average rating of “Buy” and a consensus price target of $223.00.

WEX Profile

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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