WEX Inc. (NYSE:WEX) Stock Holdings Decreased by River Road Asset Management LLC

River Road Asset Management LLC trimmed its holdings in WEX Inc. (NYSE:WEX) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 727,456 shares of the business services provider’s stock after selling 28,638 shares during the quarter. WEX makes up about 2.0% of River Road Asset Management LLC’s portfolio, making the stock its 8th biggest position. River Road Asset Management LLC owned 1.70% of WEX worth $141,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. VisionPoint Advisory Group LLC raised its holdings in shares of WEX by 74.7% in the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after buying an additional 62 shares during the period. FinTrust Capital Advisors LLC purchased a new position in WEX during the 4th quarter worth $25,000. International Assets Investment Management LLC purchased a new position in WEX during the 3rd quarter worth $37,000. State of Wyoming purchased a new position in WEX during the 2nd quarter worth $38,000. Finally, Lazard Asset Management LLC purchased a new position in WEX during the 1st quarter worth $44,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on WEX. Jefferies Financial Group raised their price objective on WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, April 12th. StockNews.com cut WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Barclays increased their target price on WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday. Evercore ISI increased their target price on WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Finally, Truist Financial increased their target price on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, WEX has a consensus rating of “Moderate Buy” and an average target price of $240.00.

Insider Activity

In other news, SVP Sara Trickett sold 887 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Robert Joseph Deshaies sold 1,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $221.85, for a total value of $332,775.00. Following the completion of the transaction, the chief operating officer now directly owns 5,570 shares in the company, valued at $1,235,704.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Sara Trickett sold 887 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The disclosure for this sale can be found here. Insiders sold 69,433 shares of company stock worth $14,708,896 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

WEX Price Performance

Shares of WEX stock traded down $3.65 during mid-day trading on Wednesday, reaching $229.87. 256,396 shares of the stock traded hands, compared to its average volume of 298,192. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55. The business has a 50-day moving average of $228.29 and a 200 day moving average of $201.62. The stock has a market capitalization of $9.59 billion, a PE ratio of 37.38, a PEG ratio of 1.51 and a beta of 1.59. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The company had revenue of $663.30 million during the quarter, compared to analysts’ expectations of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. On average, analysts predict that WEX Inc. will post 13.55 EPS for the current year.

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.