Williams Jones Wealth Management LLC. Decreases Stock Holdings in WEX Inc. (NYSE:WEX)

Williams Jones Wealth Management LLC. lowered its stake in shares of WEX Inc. (NYSE:WEX) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,238 shares of the business services provider’s stock after selling 5,141 shares during the quarter. Williams Jones Wealth Management LLC. owned about 0.26% of WEX worth $18,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State of Wyoming bought a new stake in shares of WEX in the 4th quarter valued at about $35,000. Jones Financial Companies Lllp boosted its holdings in WEX by 108.4% in the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after acquiring an additional 129 shares in the last quarter. UMB Bank n.a. grew its stake in shares of WEX by 552.5% during the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after acquiring an additional 221 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of WEX by 72.2% during the fourth quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 114 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised 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 last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WEX shares. Oppenheimer began coverage on shares of WEX in a research note on Thursday, May 15th. They set a “market perform” rating for the company. Robert W. Baird set a $186.00 price target on shares of WEX in a report on Tuesday, February 18th. Barclays reduced their price objective on WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. William Blair restated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods dropped their target price on WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $182.40.

WEX Stock Performance

NYSE WEX opened at $137.66 on Tuesday. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 2.06 and a beta of 1.26. The stock has a 50-day moving average of $136.34 and a 200 day moving average of $160.20. The company has a current ratio of 1.02, a quick ratio of 1.04 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.

WEX (NYSE:WEX) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, topping 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 business had revenue of $636.60 million during the quarter, compared to the consensus estimate of $631.42 million. During the same period in the prior year, the company posted $3.46 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Sell-side analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal year.

About WEX

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.