Vanguard Group Inc. Sells 69,343 Shares of WEX Inc. (NYSE:WEX)

Vanguard Group Inc. decreased its position in WEX Inc. (NYSE:WEX) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,777,965 shares of the business services provider’s stock after selling 69,343 shares during the period. Vanguard Group Inc. owned about 9.50% of WEX worth $662,353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of WEX. CIBC Asset Management Inc lifted its position in shares of WEX by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock valued at $225,000 after buying an additional 65 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in WEX by 25.3% during the fourth 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 last quarter. Xponance Inc. boosted its position in WEX by 1.4% during the fourth quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock worth $853,000 after purchasing an additional 68 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of WEX by 0.6% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock worth $1,959,000 after purchasing an additional 70 shares in the last quarter. Finally, Truvestments Capital LLC raised its position in shares of WEX by 4.9% in the fourth quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 78 shares during the period. 97.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WEX has been the subject of a number of recent research reports. Jefferies Financial Group lifted their price objective on shares of WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Bank of America cut WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods dropped their price objective on WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Mizuho reduced their target price on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Finally, Barclays decreased their price target on WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $187.80.

WEX Price Performance

WEX stock opened at $154.69 on Monday. The firm has a 50 day simple moving average of $162.27 and a two-hundred day simple moving average of $179.13. The stock has a market cap of $6.00 billion, a PE ratio of 20.62, a P/E/G ratio of 2.06 and a beta of 1.61. WEX Inc. has a one year low of $146.03 and a one year high of $244.04. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04.

WEX (NYSE:WEX) last released its earnings results 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 return on equity of 32.35% and a net margin of 11.78%. On average, analysts predict that WEX Inc. will post 14.09 EPS for the current fiscal year.

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.