State of New Jersey Common Pension Fund D Has $3.08 Million Holdings in WEX Inc. (NYSE:WEX)

State of New Jersey Common Pension Fund D decreased its position in shares of WEX Inc. (NYSE:WEX) by 4.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 14,683 shares of the business services provider’s stock after selling 744 shares during the period. State of New Jersey Common Pension Fund D’s holdings in WEX were worth $3,079,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of WEX by 5.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock valued at $173,561,000 after purchasing an additional 48,182 shares in the last quarter. Bessemer Group Inc. boosted its position in WEX by 0.6% during the 1st quarter. Bessemer Group Inc. now owns 735,313 shares of the business services provider’s stock worth $174,660,000 after buying an additional 4,262 shares during the period. River Road Asset Management LLC grew its holdings in WEX by 5.0% during the 3rd quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock worth $151,103,000 after acquiring an additional 34,264 shares during the last quarter. Dimensional Fund Advisors LP increased its position in WEX by 34.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock valued at $87,772,000 after acquiring an additional 126,663 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of WEX by 3.0% during the second quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider’s stock worth $71,275,000 after purchasing an additional 11,821 shares during the period. Institutional investors own 97.47% of the company’s stock.

Analyst Upgrades and Downgrades

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

WEX Trading Down 0.9 %

NYSE:WEX opened at $181.36 on Wednesday. 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 one year low of $165.51 and a one year high of $244.04. The company has a market cap of $7.22 billion, a PE ratio of 23.02, a PEG ratio of 1.45 and a beta of 1.57. The firm has a 50-day moving average of $197.77 and a 200-day moving average of $189.55.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. 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 previous year, the company posted $3.44 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities research analysts expect that WEX Inc. will post 13.2 EPS for the current fiscal year.

Insider Activity at WEX

In other WEX news, COO Robert Joseph Deshaies sold 1,651 shares of WEX stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the transaction, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at $1,409,214.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value of $299,937.17. Following the transaction, the chief operating officer now owns 7,757 shares in the company, valued at $1,409,214.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by 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.