Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $190.85 Million Stock Holdings in WEX Inc. (NYSE:WEX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its holdings in WEX Inc. (NYSE:WEX) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 909,989 shares of the business services provider’s stock after selling 4,261 shares during the period. WEX makes up 1.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 18th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 2.22% of WEX worth $190,852,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in WEX during the second quarter valued at about $33,000. Quarry LP raised its position in WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after purchasing an additional 165 shares in the last quarter. Blue Trust Inc. raised 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 in the last quarter. Covestor Ltd increased its holdings in shares of WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after buying an additional 131 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of WEX in the first quarter valued at approximately $60,000. 97.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Ann Elena Drew sold 1,182 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the sale, the insider now owns 5,584 shares of the company’s stock, valued at $964,524.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $101,600.00. Following the completion of the transaction, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,341 shares of company stock worth $605,704. 1.10% of the stock is currently owned by corporate insiders.

WEX Stock Up 1.0 %

Shares of WEX stock traded up $1.68 on Wednesday, hitting $174.84. The stock had a trading volume of 31,724 shares, compared to its average volume of 354,293. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 1.24 and a beta of 1.55. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. WEX Inc. has a 12-month low of $162.97 and a 12-month high of $244.04. The business has a 50 day moving average of $199.51 and a 200 day moving average of $193.08.

WEX (NYSE:WEX) last announced its quarterly earnings data 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. The firm had revenue of $665.50 million during the quarter, compared to analyst estimates of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.44 EPS. As a group, analysts expect that WEX Inc. will post 13.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WEX shares. JPMorgan Chase & Co. lowered 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. Keefe, Bruyette & Woods dropped their price objective on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. William Blair upgraded shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. Jefferies Financial Group raised their price objective on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, Wolfe Research lowered shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday. Six equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.