California Public Employees Retirement System Sells 4,384 Shares of WEX Inc. (NYSE:WEX)

California Public Employees Retirement System reduced its holdings in WEX Inc. (NYSE:WEX - Free Report) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,721 shares of the business services provider's stock after selling 4,384 shares during the quarter. California Public Employees Retirement System owned 0.18% of WEX worth $12,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of WEX during the fourth quarter worth about $3,446,000. Pictet Asset Management Holding SA boosted its position in shares of WEX by 7.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,008 shares of the business services provider's stock worth $1,053,000 after buying an additional 393 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of WEX during the fourth quarter worth about $1,580,000. Norges Bank acquired a new position in WEX during the fourth quarter valued at approximately $80,535,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in WEX by 24.6% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 3,574 shares of the business services provider's stock valued at $627,000 after purchasing an additional 705 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WEX. William Blair reissued a "market perform" rating on shares of WEX in a research report on Thursday, February 6th. Robert W. Baird set a $186.00 price target on WEX in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods cut 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. Wells Fargo & Company lowered their price objective on WEX from $180.00 to $160.00 and set an "equal weight" rating for the company in a research report on Friday, February 7th. Finally, Jefferies Financial Group boosted their target price on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $187.80.

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WEX Stock Performance

Shares of NYSE:WEX traded down $9.77 during trading on Thursday, hitting $123.28. 129,130 shares of the company were exchanged, compared to its average volume of 532,655. The company has a market cap of $4.79 billion, a PE ratio of 16.45, a P/E/G ratio of 2.06 and a beta of 1.33. The stock has a 50 day moving average of $152.87 and a 200 day moving average of $174.88. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $241.77. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. As a group, equities research analysts predict that WEX Inc. will post 14.09 EPS 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.