Penserra Capital Management LLC Sells 419 Shares of WEX Inc. (NYSE:WEX)

Penserra Capital Management LLC lessened its holdings in WEX Inc. (NYSE:WEX) by 0.7% in the first quarter, HoldingsChannel reports. The fund owned 59,796 shares of the business services provider’s stock after selling 419 shares during the period. Penserra Capital Management LLC’s holdings in WEX were worth $9,389,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WEX. JPMorgan Chase & Co. boosted its position in shares of WEX by 105.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider’s stock valued at $358,812,000 after acquiring an additional 1,052,087 shares during the period. Norges Bank bought a new stake in shares of WEX in the fourth quarter valued at about $80,535,000. D. E. Shaw & Co. Inc. boosted its position in shares of WEX by 1,684.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 201,922 shares of the business services provider’s stock valued at $35,401,000 after acquiring an additional 190,605 shares during the period. Ariel Investments LLC boosted its position in shares of WEX by 113.0% in the fourth quarter. Ariel Investments LLC now owns 318,272 shares of the business services provider’s stock valued at $55,799,000 after acquiring an additional 168,832 shares during the period. Finally, Wealthfront Advisers LLC bought a new stake in shares of WEX in the fourth quarter valued at about $28,689,000. Institutional investors own 97.47% of the company’s stock.

Analysts Set New Price Targets

WEX has been the subject of a number of recent research reports. Jefferies Financial Group boosted their target price on shares of WEX from $130.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, May 27th. Wells Fargo & Company reduced their target price on shares of WEX from $160.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Oppenheimer started coverage on shares of WEX in a research report on Thursday, May 15th. They issued a “market perform” rating for the company. Finally, UBS Group cut their price objective on shares of WEX from $172.00 to $138.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, WEX currently has a consensus rating of “Hold” and a consensus target price of $176.90.

WEX Trading Down 0.3%

WEX opened at $151.23 on Monday. WEX Inc. has a twelve month low of $110.45 and a twelve month high of $217.47. The company has a 50-day simple moving average of $137.32 and a 200 day simple moving average of $150.57. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.06. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.97 and a beta of 1.23.

WEX (NYSE:WEX) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.11. The firm had revenue of $636.60 million during the quarter, compared to analysts’ expectations of $631.42 million. WEX had a net margin of 12.07% and a return on equity of 37.90%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.46 earnings per share. Analysts predict that WEX Inc. will post 14.09 EPS for the current fiscal year.

Insider Transactions at WEX

In other news, CAO Jennifer Kimball sold 1,400 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $131.08, for a total value of $183,512.00. Following the completion of the transaction, the chief accounting officer owned 3,177 shares of the company’s stock, valued at approximately $416,441.16. This represents a 30.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Melissa D. Smith bought 3,721 shares of the company’s stock in a transaction dated Thursday, May 29th. The stock was bought at an average cost of $134.57 per share, with a total value of $500,734.97. Following the acquisition, the chief executive officer directly owned 101,182 shares of the company’s stock, valued at approximately $13,616,061.74. The trade was a 3.82% increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

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.