WEX Inc. (NYSE:WEX) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in shares of WEX Inc. (NYSE:WEX) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,405 shares of the business services provider’s stock after selling 836 shares during the period. MetLife Investment Management LLC owned 0.05% of WEX worth $4,489,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC increased its stake in WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of WEX in the 2nd quarter worth approximately $33,000. Quarry LP boosted its stake in WEX by 717.4% during the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 165 shares in the last quarter. Blue Trust Inc. grew its holdings in WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after acquiring an additional 187 shares during the period. Finally, Covestor Ltd lifted its stake in WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 89 shares during the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WEX. Robert W. Baird cut their price target 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. JPMorgan Chase & Co. decreased their price target on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Bank of America boosted their target price on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research lowered WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Finally, Jefferies Financial Group upped their price objective on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $235.91.

WEX Stock Performance

Shares of WEX stock opened at $188.66 on Monday. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04. The company has a 50 day moving average of $194.50 and a 200-day moving average of $187.20. 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 company has a market cap of $7.50 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.49 and a beta of 1.57.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $3.82 by $0.53. The company had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.44 earnings per share. As a group, equities research analysts forecast that WEX Inc. will post 13.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jagtar Narula sold 508 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

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.