Prudential Financial Inc. Sells 1,719 Shares of WEX Inc (WEX)

Prudential Financial Inc. decreased its stake in WEX Inc (NYSE:WEX) by 6.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 25,880 shares of the business services provider’s stock after selling 1,719 shares during the quarter. Prudential Financial Inc.’s holdings in WEX were worth $3,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. First Bank & Trust boosted its stake in shares of WEX by 3.2% in the fourth quarter. First Bank & Trust now owns 2,053 shares of the business services provider’s stock worth $288,000 after buying an additional 64 shares during the last quarter. Cerebellum GP LLC boosted its stake in shares of WEX by 12.4% in the fourth quarter. Cerebellum GP LLC now owns 1,061 shares of the business services provider’s stock worth $149,000 after buying an additional 117 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in WEX by 4.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,848 shares of the business services provider’s stock worth $399,000 after purchasing an additional 134 shares in the last quarter. Retirement Systems of Alabama boosted its position in WEX by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 55,859 shares of the business services provider’s stock worth $7,824,000 after purchasing an additional 197 shares in the last quarter. Finally, Chicago Equity Partners LLC boosted its position in WEX by 1.2% during the fourth quarter. Chicago Equity Partners LLC now owns 18,165 shares of the business services provider’s stock worth $2,544,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 98.59% of the company’s stock.

In other WEX news, insider David G. Cooper sold 607 shares of the stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $145.15, for a total transaction of $88,106.05. Following the completion of the transaction, the insider now owns 1,065 shares of the company’s stock, valued at $154,584.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.57% of the stock is owned by corporate insiders.

A number of brokerages have issued reports on WEX. Zacks Investment Research downgraded WEX from a “buy” rating to a “hold” rating in a research report on Monday, December 10th. Jefferies Financial Group began coverage on WEX in a research report on Monday, January 28th. They set a “hold” rating and a $170.00 price target on the stock. ValuEngine upgraded WEX from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Wolfe Research upgraded WEX from a “market perform” rating to an “outperform” rating in a research report on Friday, January 4th. Finally, William Blair reiterated an “outperform” rating on shares of WEX in a research report on Wednesday, January 30th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. WEX currently has a consensus rating of “Buy” and an average price target of $196.30.

Shares of WEX stock opened at $180.06 on Friday. WEX Inc has a 12 month low of $131.35 and a 12 month high of $203.49. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 1.44 and a beta of 1.51. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.16.

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WEX Profile

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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