Axxcess Wealth Management LLC Reduces Stock Holdings in WEX Inc. (NYSE:WEX)

Axxcess Wealth Management LLC cut its stake in WEX Inc. (NYSE:WEX) by 60.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,021 shares of the business services provider’s stock after selling 3,064 shares during the quarter. Axxcess Wealth Management LLC’s holdings in WEX were worth $393,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of WEX. Los Angeles Capital Management LLC boosted its stake in shares of WEX by 4.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,733 shares of the business services provider’s stock worth $337,000 after purchasing an additional 72 shares during the period. Fisher Asset Management LLC boosted its position in shares of WEX by 3.6% during the fourth quarter. Fisher Asset Management LLC now owns 17,142 shares of the business services provider’s stock valued at $3,335,000 after buying an additional 597 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of WEX by 12.3% during the fourth quarter. First Trust Direct Indexing L.P. now owns 1,225 shares of the business services provider’s stock valued at $238,000 after buying an additional 134 shares during the last quarter. New York Life Investment Management LLC lifted its stake in shares of WEX by 7.8% during the 4th quarter. New York Life Investment Management LLC now owns 4,898 shares of the business services provider’s stock worth $953,000 after acquiring an additional 355 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in WEX by 19.4% during the 4th quarter. Victory Capital Management Inc. now owns 9,242 shares of the business services provider’s stock valued at $1,798,000 after acquiring an additional 1,500 shares during the period. 97.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup boosted their target price on shares of WEX from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Jefferies Financial Group raised their target price on shares of WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Mizuho boosted their price target on WEX from $225.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. TheStreet upgraded WEX from a “c” rating to a “b” rating in a report on Thursday, February 8th. Finally, Barclays upped their target price on WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

Insider Activity at WEX

In other news, SVP Sara Trickett sold 887 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $224.61, for a total transaction of $199,229.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Sara Trickett sold 887 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $224.61, for a total transaction of $199,229.07. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Hilary A. Rapkin sold 5,800 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $222.55, for a total value of $1,290,790.00. Following the completion of the sale, the insider now owns 10,569 shares in the company, valued at approximately $2,352,130.95. The disclosure for this sale can be found here. Insiders have sold a total of 32,157 shares of company stock worth $7,090,562 in the last three months. Insiders own 1.10% of the company’s stock.

WEX Trading Down 0.8 %

NYSE WEX opened at $210.03 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.06 and a quick ratio of 1.06. WEX Inc. has a 12 month low of $161.95 and a 12 month high of $244.04. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.60. The firm’s fifty day moving average price is $229.15 and its 200 day moving average price is $205.04.

WEX (NYSE:WEX) last announced its earnings results on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a net margin of 10.21% and a return on equity of 30.92%. The business had revenue of $663.30 million during the quarter, compared to analyst estimates of $656.75 million. On average, sell-side analysts expect that WEX Inc. will post 13.96 earnings per share for the current fiscal year.

About WEX

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.