Prudential Financial Inc. Sells 450 Shares of WEX Inc. (WEX)
Prudential Financial Inc. cut its position in WEX Inc. (NYSE:WEX) by 1.9% during the third quarter, Holdings Channel reports. The institutional investor owned 23,298 shares of the company’s stock after selling 450 shares during the period. Prudential Financial Inc. owned about 0.05% of WEX worth $2,518,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE increased its position in shares of WEX by 41.2% in the third quarter. US Bancorp DE now owns 959 shares of the company’s stock worth $104,000 after buying an additional 280 shares in the last quarter. Raymond James Trust N.A. purchased a new position in shares of WEX during the third quarter worth about $211,000. CrestPoint Capital Management LLC purchased a new position in shares of WEX during the third quarter worth about $216,000. LS Investment Advisors LLC increased its position in shares of WEX by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock worth $207,000 after buying an additional 993 shares in the last quarter. Finally, World Asset Management Inc purchased a new position in shares of WEX during the third quarter worth about $271,000. Institutional investors own 95.00% of the company’s stock.
Shares of WEX Inc. (NYSE:WEX) traded up 0.14% during trading on Friday, hitting $114.63. 247,668 shares of the stock were exchanged. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 59.80 and a beta of 1.85. The firm has a 50 day moving average of $112.52 and a 200-day moving average of $103.10. WEX Inc. has a 12-month low of $54.42 and a 12-month high of $117.14.
WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, October 27th. The company reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.12. The firm earned $287.80 million during the quarter, compared to analysts’ expectations of $279.28 million. WEX had a return on equity of 13.70% and a net margin of 8.11%. WEX’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 EPS. On average, analysts forecast that WEX Inc. will post $4.56 earnings per share for the current year.
A number of brokerages recently issued reports on WEX. Citigroup Inc. began coverage on shares of WEX in a research note on Thursday, December 15th. They issued a “neutral” rating and a $120.00 price target for the company. Zacks Investment Research downgraded shares of WEX from a “buy” rating to a “hold” rating in a research note on Friday, December 9th. Jefferies Group lifted their price target on shares of WEX from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, September 19th. TheStreet upgraded shares of WEX from a “hold” rating to a “buy” rating in a research note on Tuesday, December 27th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $120.00 price target (up previously from $101.00) on shares of WEX in a research note on Tuesday, November 1st. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $101.40.
In other WEX news, SVP George W. Hogan sold 1,950 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $103.88, for a total value of $202,566.00. Following the completion of the transaction, the senior vice president now owns 12,824 shares in the company, valued at approximately $1,332,157.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael E. Dubyak sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, December 30th. The stock was sold at an average price of $111.22, for a total value of $611,710.00. Following the completion of the transaction, the director now owns 49,916 shares of the company’s stock, valued at approximately $5,551,657.52. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.
WEX Company Profile
WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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