Envestnet Asset Management Inc. Sells 13,787 Shares of WEX Inc. (NYSE:WEX)

Envestnet Asset Management Inc. lessened its holdings in WEX Inc. (NYSE:WEX - Free Report) by 19.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,475 shares of the business services provider's stock after selling 13,787 shares during the period. Envestnet Asset Management Inc. owned 0.15% of WEX worth $10,252,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WEX. Barclays PLC raised its holdings in shares of WEX by 38.4% in the 3rd quarter. Barclays PLC now owns 21,535 shares of the business services provider's stock valued at $4,516,000 after acquiring an additional 5,972 shares in the last quarter. Sanctuary Advisors LLC raised its stake in WEX by 112.4% in the third quarter. Sanctuary Advisors LLC now owns 4,760 shares of the business services provider's stock valued at $998,000 after purchasing an additional 2,519 shares in the last quarter. World Investment Advisors LLC bought a new stake in WEX during the third quarter valued at approximately $2,507,000. Wilmington Savings Fund Society FSB bought a new position in shares of WEX in the 3rd quarter worth $35,000. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of WEX by 265.1% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,280 shares of the business services provider's stock valued at $926,000 after buying an additional 3,834 shares in the last quarter. Institutional investors own 97.47% of the company's stock.

Analyst Upgrades and Downgrades

WEX has been the subject of several research reports. Mizuho cut their target price on shares of WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. Wells Fargo & Company cut their price objective on WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday. UBS Group decreased their price objective on WEX from $200.00 to $172.00 and set a "neutral" rating on the stock in a report on Friday, February 7th. Bank of America lowered WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Finally, Robert W. Baird set a $186.00 price target on shares of WEX in a research note on Tuesday, February 18th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, WEX presently has an average rating of "Hold" and a consensus target price of $185.80.

WEX Trading Up 1.6 %

NYSE WEX traded up $2.08 during trading on Thursday, hitting $128.58. The company had a trading volume of 73,200 shares, compared to its average volume of 548,714. The company's fifty day moving average is $145.24 and its 200-day moving average is $169.37. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. 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 one year low of $110.45 and a one year high of $235.20.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. On average, sell-side analysts predict that WEX Inc. will post 14.09 earnings per share 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.