Fmr LLC Sells 380,390 Shares of WEX Inc. (NYSE:WEX)

FMR LLC decreased its holdings in WEX Inc. (NYSE:WEX - Free Report) by 24.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,175,117 shares of the business services provider's stock after selling 380,390 shares during the period. FMR LLC owned approximately 2.95% of WEX worth $206,021,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of WEX during the third quarter valued at approximately $35,000. Jones Financial Companies Lllp grew its holdings in WEX by 108.4% in the 4th 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 during the last quarter. UMB Bank n.a. raised 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 valued at $46,000 after acquiring an additional 221 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of WEX by 72.2% in the fourth quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider's stock worth $48,000 after purchasing an additional 114 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock valued at $56,000 after acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WEX. Keefe, Bruyette & Woods decreased their price objective on WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Barclays decreased their price target on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. Mizuho dropped their price objective on shares of WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. Wells Fargo & Company decreased their target price on shares of WEX from $180.00 to $160.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Finally, William Blair restated a "market perform" rating on shares of WEX in a research note on Thursday, February 6th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $187.80.

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WEX Stock Performance

Shares of WEX stock traded down $4.64 on Wednesday, reaching $122.60. The stock had a trading volume of 617,560 shares, compared to its average volume of 543,692. The stock has a market cap of $4.20 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. 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 Inc. has a 1 year low of $110.45 and a 1 year high of $235.65. The company has a 50 day simple moving average of $148.30 and a 200 day simple moving average of $172.29.

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, 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%. Equities research analysts expect 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.