Neuberger Berman Group LLC cut its holdings in WEX Inc. (NYSE:WEX - Free Report) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 357,297 shares of the business services provider's stock after selling 48,021 shares during the period. Neuberger Berman Group LLC owned 0.90% of WEX worth $62,641,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. LPL Financial LLC lifted its stake in shares of WEX by 13.2% in the 4th quarter. LPL Financial LLC now owns 29,408 shares of the business services provider's stock valued at $5,283,000 after purchasing an additional 3,439 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of WEX by 1,635.8% in the 4th quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider's stock valued at $1,540,000 after acquiring an additional 8,277 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of WEX by 25.3% during the 4th 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 during the period. Pictet Asset Management Holding SA lifted its stake in WEX by 7.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,008 shares of the business services provider's stock worth $1,053,000 after purchasing an additional 393 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of WEX by 108.4% in the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock valued at $43,000 after buying an additional 129 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their target price on 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 cut shares of WEX from a "buy" rating to a "neutral" rating and decreased their price target for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Bank of America lowered WEX from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. UBS Group reduced their price target on WEX from $200.00 to $172.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. Finally, Jefferies Financial Group upped their target price on shares of WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a research note on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, WEX presently has an average rating of "Hold" and a consensus price target of $187.80.
Get Our Latest Stock Analysis on WEX
WEX Stock Performance
NYSE:WEX traded down $1.35 during mid-day trading on Tuesday, reaching $126.33. 84,479 shares of the stock were exchanged, compared to its average volume of 539,335. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $239.30. The company has a 50 day simple moving average of $149.38 and a 200-day simple moving average of $172.96. The stock has a market capitalization of $4.33 billion, a P/E ratio of 16.84, a P/E/G ratio of 2.06 and a beta of 1.33.
WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current fiscal year.
About WEX
(
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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