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 stake in WEX Inc. (NYSE:WEX) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,683 shares of the business services provider’s stock after selling 744 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in WEX were worth $3,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in WEX during the 2nd quarter worth approximately $33,000. Quarry LP lifted its position in WEX by 717.4% during the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after buying an additional 165 shares in the last quarter. Blue Trust Inc. boosted 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 buying an additional 187 shares during the last quarter. Covestor Ltd grew its holdings in shares of WEX by 233.9% in the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 131 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of WEX by 40.7% in the third quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 87 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Jefferies Financial Group raised their price target on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Robert W. Baird decreased their target price 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. William Blair raised shares of WEX to a “strong-buy” rating in a research report on Friday, July 26th. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company dropped their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, WEX presently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

Insider Transactions at WEX

In related 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 completion of the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at approximately $1,409,214.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Jagtar Narula sold 508 shares of the business’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 in the company, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert Joseph Deshaies sold 1,651 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total transaction of $299,937.17. Following the sale, the chief operating officer now owns 7,757 shares in the company, valued at $1,409,214.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

WEX Stock Performance

Shares of 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. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 1.45 and a beta of 1.57. The stock’s fifty day moving average price is $197.77 and its two-hundred day moving average price is $189.55. WEX Inc. has a one year low of $165.51 and a one year high of $244.04.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. During the same period in the prior year, the company posted $3.44 earnings per share. WEX’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that WEX Inc. will post 13.2 EPS for the current year.

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.