Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Stake in WEX Inc. (NYSE:WEX)


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Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in shares of WEX Inc. (NYSE:WEX) by 18.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 461,208 shares of the business services provider’s stock after selling 104,404 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 1.05% of WEX worth $93,869,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Great West Life Assurance Co. Can grew its position in WEX by 2,234.7% in the third quarter. Great West Life Assurance Co. Can now owns 506,661 shares of the business services provider’s stock valued at $1,117,000 after acquiring an additional 484,960 shares in the last quarter. HG Vora Capital Management LLC purchased a new position in WEX in the 3rd quarter worth about $48,640,000. Morgan Stanley grew its stake in WEX by 444.8% during the 3rd quarter. Morgan Stanley now owns 199,525 shares of the business services provider’s stock valued at $27,728,000 after acquiring an additional 162,899 shares in the last quarter. Wasatch Advisors Inc. grew its stake in WEX by 76.3% during the 3rd quarter. Wasatch Advisors Inc. now owns 375,035 shares of the business services provider’s stock valued at $52,118,000 after acquiring an additional 162,267 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in WEX by 4,427.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 116,999 shares of the business services provider’s stock valued at $16,259,000 after acquiring an additional 114,415 shares in the last quarter. Institutional investors and hedge funds own 98.73% of the company’s stock.

Shares of WEX stock traded up $2.21 during trading on Thursday, hitting $214.09. The company’s stock had a trading volume of 2,070 shares, compared to its average volume of 316,277. The company has a market cap of $9.45 billion, a PE ratio of 74.08, a P/E/G ratio of 1.68 and a beta of 1.86. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.34. The business has a fifty day moving average of $197.04 and a 200-day moving average of $165.26. WEX Inc. has a 52 week low of $71.12 and a 52 week high of $236.51.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, October 29th. The business services provider reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.13). WEX had a net margin of 7.47% and a return on equity of 16.87%. The firm had revenue of $392.90 million for the quarter, compared to the consensus estimate of $395.95 million. During the same period last year, the company posted $2.59 earnings per share. WEX’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, research analysts predict that WEX Inc. will post 5.84 EPS for the current year.

In other news, CTO David G. Cooper sold 3,777 shares of the firm’s stock in a transaction dated Tuesday, December 15th. The stock was sold at an average price of $201.00, for a total transaction of $759,177.00. Following the transaction, the chief technology officer now directly owns 6,562 shares of the company’s stock, valued at $1,318,962. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Roberto Simon sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 15th. The shares were sold at an average price of $199.50, for a total value of $1,995,000.00. Following the transaction, the chief financial officer now directly owns 20,878 shares in the company, valued at $4,165,161. The disclosure for this sale can be found here. In the last three months, insiders sold 23,777 shares of company stock worth $4,604,177. 0.76% of the stock is owned by insiders.

Several equities research analysts have recently issued reports on the company. Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a report on Wednesday, January 6th. Morgan Stanley cut their price target on WEX from $163.00 to $150.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Credit Suisse Group restated a “neutral” rating and set a $205.00 price objective on shares of WEX in a research report on Monday, December 21st. 140166 lowered their price objective on WEX from $210.00 to $200.00 in a research report on Monday, September 21st. Finally, Wolfe Research upgraded WEX from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 6th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $190.94.

About WEX

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 processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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