Cambiar Investors LLC Cuts Holdings in WEX Inc. (NYSE:WEX)

Cambiar Investors LLC lowered its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,206 shares of the business services provider's stock after selling 7,823 shares during the quarter. Cambiar Investors LLC owned about 0.14% of WEX worth $10,029,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WEX. Truist Financial Corp lifted its position in WEX by 21.0% during the 2nd quarter. Truist Financial Corp now owns 2,943 shares of the business services provider's stock valued at $521,000 after acquiring an additional 510 shares during the period. Sanctuary Advisors LLC bought a new position in shares of WEX during the second quarter valued at approximately $397,000. GAMMA Investing LLC lifted its holdings in shares of WEX by 40.7% during the third quarter. GAMMA Investing LLC now owns 301 shares of the business services provider's stock valued at $63,000 after purchasing an additional 87 shares during the last quarter. Procyon Advisors LLC boosted its position in shares of WEX by 3.9% in the 3rd quarter. Procyon Advisors LLC now owns 3,691 shares of the business services provider's stock worth $774,000 after purchasing an additional 138 shares in the last quarter. Finally, Creative Planning grew its stake in shares of WEX by 1.8% in the 3rd quarter. Creative Planning now owns 78,721 shares of the business services provider's stock worth $16,510,000 after buying an additional 1,398 shares during the last quarter. Institutional investors own 97.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WEX. Bank of America cut WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Barclays dropped their price target on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Monday. Wolfe Research downgraded shares of WEX from an "outperform" rating to a "peer perform" rating in a research note on Monday, October 28th. Wells Fargo & Company decreased their price objective on shares of WEX from $180.00 to $160.00 and set an "equal weight" rating for the company in a report on Friday. Finally, Jefferies Financial Group lifted their target price on WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $199.73.

WEX Stock Performance

Shares of WEX stock traded up $0.95 during mid-day trading on Tuesday, reaching $155.25. 976,824 shares of the company's stock traded hands, compared to its average volume of 516,327. WEX Inc. has a 12 month low of $146.03 and a 12 month high of $244.04. The firm has a 50 day moving average price of $176.28 and a two-hundred day moving average price of $185.51. The firm has a market capitalization of $6.18 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. On average, research analysts forecast that WEX Inc. will post 14.27 EPS for the current year.

Insider Transactions at WEX

In related news, COO Robert Joseph Deshaies sold 175 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the transaction, the chief operating officer now directly owns 7,582 shares of the company's stock, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

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.