Russell Investments Group Ltd. Sells 1,652 Shares of WEX Inc. (NYSE:WEX)

Russell Investments Group Ltd. trimmed its stake in WEX Inc. (NYSE:WEX) by 35.8% during the second quarter, Holdings Channel reports. The fund owned 2,964 shares of the business services provider’s stock after selling 1,652 shares during the quarter. Russell Investments Group Ltd.’s holdings in WEX were worth $574,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Coldstream Capital Management Inc. raised its stake in shares of WEX by 4.6% in the 1st quarter. Coldstream Capital Management Inc. now owns 1,226 shares of the business services provider’s stock valued at $257,000 after acquiring an additional 54 shares in the last quarter. Arizona State Retirement System raised its stake in shares of WEX by 0.5% in the 1st quarter. Arizona State Retirement System now owns 12,846 shares of the business services provider’s stock valued at $2,688,000 after acquiring an additional 59 shares in the last quarter. Berman Capital Advisors LLC raised its stake in shares of WEX by 42.3% in the 1st quarter. Berman Capital Advisors LLC now owns 259 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 77 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in WEX by 2.7% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,076 shares of the business services provider’s stock valued at $596,000 after buying an additional 82 shares during the last quarter. Finally, South Dakota Investment Council grew its holdings in WEX by 0.3% in the 1st quarter. South Dakota Investment Council now owns 36,761 shares of the business services provider’s stock valued at $7,691,000 after buying an additional 95 shares during the last quarter.

Shares of WEX stock opened at $167.84 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.60. WEX Inc. has a 12 month low of $122.64 and a 12 month high of $234.64. The business has a fifty day simple moving average of $180.96 and a 200 day simple moving average of $197.46. The stock has a market cap of $7.52 billion, a PE ratio of -22.06, a price-to-earnings-growth ratio of 0.87 and a beta of 1.94.

WEX (NYSE:WEX) last posted its earnings results on Thursday, July 29th. The business services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.56. WEX had a positive return on equity of 13.31% and a negative net margin of 20.38%. The firm had revenue of $459.48 million during the quarter, compared to analysts’ expectations of $437.26 million. Analysts expect that WEX Inc. will post 7.29 EPS for the current fiscal year.

A number of analysts have issued reports on WEX shares. Credit Suisse Group started coverage on WEX in a report on Tuesday, July 6th. They issued a “hold” rating and a $210.00 target price on the stock. Cowen decreased their price objective on WEX from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Friday, July 30th. JPMorgan Chase & Co. cut their price objective on WEX from $223.00 to $198.00 and set a “neutral” rating for the company in a research report on Tuesday, August 17th. Mizuho lifted their price objective on WEX from $225.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, August 2nd. Finally, Morgan Stanley dropped their target price on WEX from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, July 30th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $228.42.

WEX Profile

WEX Inc provides financial technology services in North 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. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; premium fleet services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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