Public Employees Retirement System of Ohio Has $3.18 Million Position in WEX Inc. (NYSE:WEX)

Public Employees Retirement System of Ohio lessened its holdings in shares of WEX Inc. (NYSE:WEX) by 6.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 15,158 shares of the business services provider’s stock after selling 1,037 shares during the period. Public Employees Retirement System of Ohio’s holdings in WEX were worth $3,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WEX. Venturi Wealth Management LLC lifted its holdings in WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after buying an additional 101 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of WEX during the second quarter valued at $33,000. Quarry LP boosted its holdings in WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 165 shares during the last quarter. Blue Trust Inc. increased its position in WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after purchasing an additional 187 shares during the period. Finally, Covestor Ltd raised its holdings in WEX by 47.3% during the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after purchasing an additional 89 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Robert Joseph Deshaies sold 175 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the completion of the transaction, the chief operating officer now owns 7,582 shares of the company’s stock, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

WEX Stock Up 0.6 %

WEX stock opened at $177.19 on Tuesday. The company has a 50 day moving average of $188.70 and a 200-day moving average of $186.48. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04. The stock has a market capitalization of $7.05 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.39 and a beta of 1.57.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on WEX. JPMorgan Chase & Co. reduced their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Jefferies Financial Group lifted their target price on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Bank of America increased their price target on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Finally, Robert W. Baird cut their target price on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, WEX has a consensus rating of “Moderate Buy” and a consensus target price of $235.91.

WEX Company 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.