OVERSEA CHINESE BANKING Corp Ltd Decreases Holdings in WEX Inc. (NYSE:WEX)

OVERSEA CHINESE BANKING Corp Ltd lowered its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 12.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 30,448 shares of the business services provider's stock after selling 4,322 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned about 0.08% of WEX worth $5,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KBC Group NV increased its stake in shares of WEX by 13.0% in the 3rd quarter. KBC Group NV now owns 1,187 shares of the business services provider's stock valued at $249,000 after purchasing an additional 137 shares in the last quarter. Natixis Advisors LLC grew its position in shares of WEX by 300.4% in the third quarter. Natixis Advisors LLC now owns 68,539 shares of the business services provider's stock valued at $14,375,000 after purchasing an additional 51,423 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in WEX in the third quarter valued at approximately $3,733,000. PNC Financial Services Group Inc. lifted its holdings in WEX by 21.6% in the third quarter. PNC Financial Services Group Inc. now owns 10,630 shares of the business services provider's stock valued at $2,229,000 after acquiring an additional 1,886 shares during the last quarter. Finally, Premier Fund Managers Ltd lifted its stake in WEX by 18.1% during the third quarter. Premier Fund Managers Ltd now owns 300,000 shares of the business services provider's stock worth $62,750,000 after purchasing an additional 46,000 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.

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Analyst Upgrades and Downgrades

WEX has been the topic of a number of recent research reports. Mizuho cut their price objective on WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Citigroup lowered WEX from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Wells Fargo & Company dropped their price objective on WEX from $180.00 to $160.00 and set an "equal weight" rating on the stock in a report on Friday, February 7th. UBS Group decreased their target price on shares of WEX from $200.00 to $172.00 and set a "neutral" rating for the company in a research note on Friday, February 7th. Finally, Robert W. Baird set a $186.00 price objective on shares of WEX in a research report on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $195.73.

WEX Trading Up 0.5 %

WEX traded up $0.77 during trading on Friday, hitting $157.11. The company's stock had a trading volume of 2,778,600 shares, compared to its average volume of 436,932. The firm's 50 day moving average price is $164.79 and its 200-day moving average price is $180.43. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The stock has a market cap of $6.10 billion, a PE ratio of 20.95, a PEG ratio of 2.06 and a beta of 1.61. WEX Inc. has a twelve month low of $146.03 and a twelve month high of $244.04.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping 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%. On average, analysts expect that WEX Inc. will post 14.09 earnings per share for the current year.

WEX 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.