HM Payson & Co. reduced its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 58.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,829 shares of the business services provider's stock after selling 87,512 shares during the period. HM Payson & Co. owned about 0.16% of WEX worth $10,840,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WEX. Venturi Wealth Management LLC raised its position in WEX by 206.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock valued at $31,000 after purchasing an additional 101 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in WEX in the third quarter valued at approximately $35,000. Jones Financial Companies Lllp lifted its stake in WEX by 108.4% in the fourth 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. lifted its stake in WEX by 552.5% in the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock worth $46,000 after acquiring an additional 221 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of WEX by 25.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock valued at $56,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.
WEX Stock Performance
Shares of WEX stock traded down $2.53 during trading on Wednesday, reaching $150.49. The company's stock had a trading volume of 1,010,115 shares, compared to its average volume of 592,149. The company has a 50-day moving average price of $168.11 and a two-hundred day moving average price of $182.31. WEX Inc. has a fifty-two week low of $146.03 and a fifty-two week high of $244.04. The firm has a market cap of $5.84 billion, a PE ratio of 20.07, a P/E/G ratio of 2.06 and a beta of 1.61. 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 (NYSE:WEX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating 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, analysts forecast that WEX Inc. will post 14.09 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. 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 research report on Friday, February 7th. Citigroup downgraded WEX from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Bank of America downgraded WEX from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. Mizuho cut their target price on WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Finally, UBS Group lowered their price target on WEX from $200.00 to $172.00 and set a "neutral" rating for the company in a report on Friday, February 7th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $195.73.
Check Out Our Latest Stock Report on WEX
WEX Company Profile
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Free Report)
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.
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