Truvestments Capital LLC Sells 314 Shares of WEX Inc. (NYSE:WEX)

Truvestments Capital LLC trimmed its position in WEX Inc. (NYSE:WEX) by 16.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,608 shares of the business services provider’s stock after selling 314 shares during the period. Truvestments Capital LLC’s holdings in WEX were worth $337,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its holdings in shares of WEX by 206.1% in the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 101 shares in the last quarter. International Assets Investment Management LLC bought a new position in WEX in the 2nd quarter valued at $33,000. Quarry LP increased its position in shares of WEX by 717.4% during the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. raised its stake in shares of WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after purchasing an additional 187 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of WEX by 47.3% in the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on WEX shares. Wells Fargo & Company lowered their price objective on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Wolfe Research downgraded WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Bank of America lifted 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. Jefferies Financial Group raised their target price on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, WEX has an average rating of “Moderate Buy” and an average target price of $235.91.

WEX Price Performance

WEX stock opened at $188.15 on Tuesday. The firm has a market cap of $7.48 billion, a P/E ratio of 23.88, a P/E/G ratio of 1.47 and a beta of 1.57. The firm’s fifty day moving average is $196.01 and its 200 day moving average is $187.80. WEX Inc. has a 52 week low of $165.51 and a 52 week high of $244.04. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $688.03 million. During the same period last year, the firm earned $3.44 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts predict that WEX Inc. will post 13.1 earnings per share for the current year.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 508 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 6.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

WEX 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.