Axa S.A. Sells 8,121 Shares of WEX Inc. (NYSE:WEX)

Axa S.A. trimmed its stake in WEX Inc. (NYSE:WEX) by 37.9% in the fourth quarter, Holdings Channel reports. The firm owned 13,291 shares of the business services provider’s stock after selling 8,121 shares during the quarter. Axa S.A.’s holdings in WEX were worth $2,330,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of WEX in the third quarter valued at $35,000. Jones Financial Companies Lllp grew its position in shares of WEX by 108.4% in the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 129 shares during the period. UMB Bank n.a. increased its stake 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 worth $46,000 after purchasing an additional 221 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of WEX by 72.2% in the 4th quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 114 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in 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 last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

WEX has been the topic of several research analyst reports. William Blair restated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Citigroup downgraded WEX from a “buy” rating to a “neutral” rating and cut their price target for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Mizuho decreased their price objective on shares of WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Jefferies Financial Group increased their price objective on shares of WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Finally, Bank of America downgraded shares of WEX from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $182.40.

WEX Stock Performance

Shares of NYSE:WEX opened at $126.88 on Friday. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47. The company’s 50 day moving average price is $138.97 and its two-hundred day moving average price is $162.85. The firm has a market cap of $4.34 billion, a PE ratio of 16.92, a PEG ratio of 2.06 and a beta of 1.26. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.11. WEX had a return on equity of 32.35% and a net margin of 11.78%. The firm had revenue of $636.60 million during the quarter, compared to analysts’ expectations of $631.42 million. During the same period in the previous year, the firm earned $3.46 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts predict that WEX Inc. will post 14.09 earnings per share for the current 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.