WEX Inc. (NYSE:WEX) Shares Acquired by Twin Tree Management LP

Twin Tree Management LP lifted its holdings in shares of WEX Inc. (NYSE:WEX) by 57.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,349 shares of the business services provider’s stock after purchasing an additional 1,947 shares during the quarter. Twin Tree Management LP’s holdings in WEX were worth $1,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC purchased a new position in WEX during the 4th quarter valued at about $27,000. Rise Advisors LLC purchased a new position in WEX during the 1st quarter valued at about $29,000. Principal Securities Inc. purchased a new position in WEX during the 4th quarter valued at about $31,000. Fidelis Capital Partners LLC purchased a new position in WEX during the 1st quarter valued at about $60,000. Finally, ICA Group Wealth Management LLC purchased a new position in WEX during the 4th quarter valued at about $62,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on WEX. Robert W. Baird raised their target price on WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods decreased their price objective on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. StockNews.com cut WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Evercore ISI lifted their price objective on WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. decreased their price objective on WEX from $246.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $238.85.

WEX Price Performance

Shares of NYSE WEX opened at $184.63 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The firm has a market capitalization of $7.74 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 1.07 and a beta of 1.54. The stock’s 50-day simple moving average is $182.80 and its 200-day simple moving average is $206.40.

WEX (NYSE:WEX) last issued its earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.15. The business had revenue of $652.70 million for the quarter, compared to analyst estimates of $653.52 million. WEX had a return on equity of 30.92% and a net margin of 10.21%. As a group, equities research analysts forecast that WEX Inc. will post 13.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 540 shares of WEX stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $190.00, for a total transaction of $102,600.00. Following the transaction, the chief financial officer now owns 7,628 shares of the company’s stock, valued at $1,449,320. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Sara Trickett sold 734 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total value of $154,455.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $190.00, for a total value of $102,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,628 shares in the company, valued at approximately $1,449,320. The disclosure for this sale can be found here. Insiders have sold a total of 4,911 shares of company stock valued at $1,008,402 over the last quarter. Company insiders own 1.10% of the company’s stock.

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.