Penserra Capital Management LLC Sells 2,608 Shares of WEX Inc. (NYSE:WEX)

Penserra Capital Management LLC lessened its holdings in WEX Inc. (NYSE:WEX) by 4.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 56,926 shares of the business services provider’s stock after selling 2,608 shares during the period. Penserra Capital Management LLC owned 0.14% of WEX worth $11,939,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in WEX by 5.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock worth $173,561,000 after acquiring an additional 48,182 shares during the last quarter. River Road Asset Management LLC increased its position in WEX by 5.0% in the third quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock worth $151,103,000 after purchasing an additional 34,264 shares during the last quarter. Dimensional Fund Advisors LP increased its position in WEX by 34.3% in the second quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock worth $87,772,000 after purchasing an additional 126,663 shares during the last quarter. Federated Hermes Inc. raised its stake in WEX by 3.0% during the second quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider’s stock valued at $71,275,000 after purchasing an additional 11,821 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in WEX by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 378,969 shares of the business services provider’s stock valued at $67,131,000 after purchasing an additional 17,989 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

WEX Stock Performance

WEX opened at $185.38 on Friday. 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 firm has a market capitalization of $7.37 billion, a PE ratio of 23.53, a P/E/G ratio of 1.47 and a beta of 1.57. The firm has a 50 day moving average of $196.01 and a two-hundred day moving average of $188.12. WEX Inc. has a 12-month low of $165.51 and a 12-month high of $244.04.

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

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction 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. The trade was a 6.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

WEX has been the topic of a number of research reports. Robert W. Baird reduced their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Wells Fargo & Company lowered their price objective on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Jefferies Financial Group lifted their target price on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. decreased their price target on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.91.

About WEX

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.