Jennison Associates LLC Sells 116,550 Shares of WEX Inc. (NYSE:WEX)

Jennison Associates LLC reduced its position in shares of WEX Inc. (NYSE:WEX) by 20.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 441,597 shares of the business services provider’s stock after selling 116,550 shares during the quarter. Jennison Associates LLC’s holdings in WEX were worth $85,913,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in WEX by 19,044.7% during the 4th quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock worth $7,002,000 after purchasing an additional 35,804 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of WEX by 56.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 141,287 shares of the business services provider’s stock worth $26,575,000 after buying an additional 50,771 shares during the period. Burney Co. grew its position in shares of WEX by 131.1% during the 3rd quarter. Burney Co. now owns 21,120 shares of the business services provider’s stock worth $3,972,000 after buying an additional 11,983 shares during the period. Deutsche Bank AG grew its position in shares of WEX by 65.5% during the 3rd quarter. Deutsche Bank AG now owns 54,523 shares of the business services provider’s stock worth $10,255,000 after buying an additional 21,578 shares during the period. Finally, Comerica Bank acquired a new position in shares of WEX during the 3rd quarter worth about $6,545,000. 97.47% of the stock is owned by institutional investors.

WEX Trading Down 0.0 %

NYSE:WEX opened at $230.47 on Tuesday. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04. The company has a market cap of $9.62 billion, a P/E ratio of 37.41, a price-to-earnings-growth ratio of 1.49 and a beta of 1.59. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55. The business has a 50 day moving average price of $230.06 and a two-hundred day moving average price of $202.94.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a return on equity of 31.33% and a net margin of 10.46%. The company had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. As a group, analysts expect that WEX Inc. will post 13.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WEX shares. JPMorgan Chase & Co. boosted their target price on WEX from $205.00 to $239.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Barclays boosted their target price on WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. TheStreet upgraded WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Evercore ISI boosted their price objective on WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Finally, Truist Financial boosted their price objective on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $240.00.

Insider Transactions at WEX

In other news, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the sale, the chief financial officer now owns 5,528 shares in the company, valued at approximately $1,289,350.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Jagtar Narula sold 309 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the sale, the chief financial officer now owns 5,528 shares in the company, valued at approximately $1,289,350.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Sara Trickett sold 887 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $224.61, for a total value of $199,229.07. The disclosure for this sale can be found here. Insiders have sold a total of 28,326 shares of company stock worth $6,281,961 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

WEX Company 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.