WEX Inc. $WEX Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC decreased its position in WEX Inc. (NYSE:WEX) by 22.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,719 shares of the business services provider’s stock after selling 11,687 shares during the period. Cambiar Investors LLC owned 0.12% of WEX worth $6,414,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC purchased a new position in WEX in the third quarter worth approximately $28,000. Steph & Co. purchased a new position in shares of WEX during the 3rd quarter worth $35,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of WEX during the 2nd quarter worth about $54,000. EverSource Wealth Advisors LLC raised its holdings in WEX by 4,837.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 395 shares of the business services provider’s stock valued at $58,000 after buying an additional 387 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in WEX by 494.8% in the second quarter. Parkside Financial Bank & Trust now owns 458 shares of the business services provider’s stock valued at $67,000 after buying an additional 381 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

NYSE:WEX opened at $156.93 on Wednesday. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $188.70. The company has a fifty day simple moving average of $152.61 and a two-hundred day simple moving average of $158.26. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 3.33. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99.

WEX (NYSE:WEX) last released its earnings results on Wednesday, October 29th. The business services provider reported $4.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.45 by $0.14. WEX had a return on equity of 45.10% and a net margin of 10.81%.The firm had revenue of $691.80 million during the quarter, compared to analyst estimates of $678.25 million. During the same period last year, the business posted $4.35 earnings per share. WEX’s revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group dropped their price target on shares of WEX from $185.00 to $172.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Bank of America raised WEX from a “neutral” rating to a “buy” rating and set a $178.00 target price on the stock in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. decreased their price target on WEX from $195.00 to $175.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of WEX in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised WEX from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Four research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $170.25.

Insider Activity

In other news, Director Stephen Montgomery Smith bought 1,000 shares of WEX stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average price of $144.25 per share, with a total value of $144,250.00. Following the completion of the acquisition, the director directly owned 7,971 shares in the company, valued at $1,149,816.75. The trade was a 14.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer Kimball sold 494 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $151.40, for a total transaction of $74,791.60. Following the transaction, the chief accounting officer owned 3,671 shares of the company’s stock, valued at $555,789.40. This trade represents a 11.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.40% of the company’s stock.

About WEX

WEX Inc is a global financial technology company specializing in business payment solutions for fleet, travel, and corporate payments. The company delivers software-driven platforms and card-based services that help businesses automate payment processes, manage expenses and improve operational efficiency across a range of industries, including transportation, healthcare and government.

Founded in 1983 as Wright Express in Portland, Maine, the company began by offering fuel card services to trucking fleets.