Ethic Inc. Sells 940 Shares of WEX Inc. (NYSE:WEX)

Ethic Inc. cut its holdings in WEX Inc. (NYSE:WEX) by 41.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,333 shares of the business services provider’s stock after selling 940 shares during the period. Ethic Inc.’s holdings in WEX were worth $234,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its stake in WEX by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock worth $225,000 after purchasing an additional 65 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after purchasing an additional 66 shares during the last quarter. Xponance Inc. raised its stake in shares of WEX by 1.4% during the fourth quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock valued at $853,000 after acquiring an additional 68 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of WEX by 0.6% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock valued at $1,959,000 after acquiring an additional 70 shares during the last quarter. Finally, Truvestments Capital LLC raised its stake in shares of WEX by 4.9% during the fourth quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock valued at $296,000 after acquiring an additional 78 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

WEX Trading Up 1.6%

NYSE WEX opened at $139.50 on Friday. 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 Inc. has a twelve month low of $110.45 and a twelve month high of $217.47. The firm has a market capitalization of $4.78 billion, a PE ratio of 18.60, a P/E/G ratio of 2.06 and a beta of 1.26. The stock’s 50 day moving average is $136.60 and its 200 day moving average is $160.54.

WEX (NYSE:WEX) last released its quarterly earnings results 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 company had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. During the same period in the previous year, the company posted $3.46 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. Research analysts forecast that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Robert W. Baird set a $186.00 price objective on shares of WEX in a research note on Tuesday, February 18th. Bank of America downgraded shares of WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Mizuho lowered their price objective on shares of WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Barclays lowered their price objective on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $182.40.

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.