Geode Capital Management LLC Sells 14,966 Shares of WEX Inc. (NYSE:WEX)

Geode Capital Management LLC cut its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 678,331 shares of the business services provider's stock after selling 14,966 shares during the period. Geode Capital Management LLC owned approximately 1.71% of WEX worth $118,962,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WEX. CIBC Asset Management Inc raised its holdings in WEX by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider's stock worth $225,000 after purchasing an additional 65 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after purchasing an additional 66 shares in the last quarter. Xponance Inc. lifted its stake in shares of WEX by 1.4% during the 4th quarter. Xponance Inc. now owns 4,864 shares of the business services provider's stock valued at $853,000 after buying an additional 68 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in WEX by 0.6% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider's stock worth $1,959,000 after buying an additional 70 shares in the last quarter. Finally, Truvestments Capital LLC boosted its stake in shares of WEX by 4.9% in the fourth quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider's stock worth $296,000 after acquiring an additional 78 shares during the period. 97.47% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WEX. Jefferies Financial Group increased their price objective on shares of WEX from $180.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday, January 22nd. William Blair restated a "market perform" rating on shares of WEX in a research report on Thursday, February 6th. Barclays dropped their price target on 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 decreased their price objective on WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Finally, Wells Fargo & Company reduced their price target on shares of WEX from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $187.80.

WEX Trading Up 1.8 %

Shares of WEX stock traded up $2.23 on Monday, hitting $128.19. 32,528 shares of the company traded hands, compared to its average volume of 538,776. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The company has a market cap of $4.39 billion, a PE ratio of 17.09, a PEG ratio of 2.06 and a beta of 1.33. The stock's 50 day moving average price is $150.56 and its 200-day moving average price is $173.52. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $239.30.

WEX (NYSE:WEX - Get Free Report) last issued its 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 return on equity of 32.35% and a net margin of 11.78%. 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.