Corient Private Wealth LLC Sells 1,731 Shares of WEX Inc. (NYSE:WEX)

Corient Private Wealth LLC cut its stake in WEX Inc. (NYSE:WEX) by 16.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,080 shares of the business services provider’s stock after selling 1,731 shares during the quarter. Corient Private Wealth LLC’s holdings in WEX were worth $1,592,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in WEX during the third quarter worth about $35,000. Jones Financial Companies Lllp raised its position in shares of WEX by 108.4% during the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after purchasing an additional 129 shares during the period. UMB Bank n.a. lifted its holdings in shares of WEX by 552.5% during the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 221 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of WEX by 25.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 66 shares during the period. Finally, Brooklyn Investment Group bought a new stake in WEX during the 3rd quarter worth approximately $59,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Trading Down 2.3 %

NYSE WEX opened at $153.93 on Wednesday. WEX Inc. has a 12 month low of $146.03 and a 12 month high of $244.04. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The stock has a 50 day moving average of $163.98 and a 200-day moving average of $179.94. The company has a market cap of $5.97 billion, a PE ratio of 20.52, a PEG ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. On average, equities research analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WEX has been the topic of a number of research reports. Wells Fargo & Company cut their price target on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Citigroup cut WEX from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Robert W. Baird set a $186.00 price target on WEX in a research note on Tuesday, February 18th. Jefferies Financial Group upped their price objective on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Finally, William Blair reissued a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $195.73.

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.