WEX Inc. (NYSE:WEX) Shares Sold by Boit C F David

Boit C F David lessened its stake in WEX Inc. (NYSE:WEX) by 14.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,000 shares of the business services provider’s stock after selling 340 shares during the quarter. Boit C F David’s holdings in WEX were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in shares of WEX by 105.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider’s stock valued at $358,812,000 after purchasing an additional 1,052,087 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of WEX by 1.0% in the fourth quarter. Earnest Partners LLC now owns 872,734 shares of the business services provider’s stock valued at $153,008,000 after purchasing an additional 8,780 shares during the last quarter. Lyrical Asset Management LP increased its holdings in shares of WEX by 0.4% in the fourth quarter. Lyrical Asset Management LP now owns 823,434 shares of the business services provider’s stock valued at $144,364,000 after purchasing an additional 3,190 shares during the last quarter. River Road Asset Management LLC increased its stake in WEX by 0.7% during the fourth quarter. River Road Asset Management LLC now owns 725,842 shares of the business services provider’s stock worth $127,255,000 after acquiring an additional 5,377 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in WEX by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 602,693 shares of the business services provider’s stock worth $105,653,000 after acquiring an additional 18,331 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

WEX has been the subject of several recent analyst reports. Mizuho cut their target price on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. UBS Group cut their target price on WEX from $172.00 to $138.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Keefe, Bruyette & Woods cut their target price on WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. William Blair reissued a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Finally, Robert W. Baird set a $186.00 target price on WEX in a research note on Tuesday, February 18th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $176.90.

WEX Trading Down 1.1%

WEX opened at $133.03 on Friday. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $217.47. The business has a fifty day simple moving average of $132.67 and a 200-day simple moving average of $157.65. The firm has a market cap of $4.56 billion, a P/E ratio of 17.74, a P/E/G 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 released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 EPS 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 analyst estimates of $631.42 million. During the same period last year, the business posted $3.46 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts expect that WEX Inc. will post 14.09 earnings per share for the current year.

WEX 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.