Principal Financial Group Inc. cut its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,332 shares of the business services provider's stock after selling 3,878 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of WEX worth $16,012,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the business. Janus Henderson Group PLC grew its holdings in shares of WEX by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider's stock worth $873,251,000 after purchasing an additional 25,365 shares during the period. FMR LLC boosted its holdings in WEX by 8.8% during the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider's stock valued at $326,237,000 after acquiring an additional 125,262 shares during the period. State Street Corp boosted its holdings in WEX by 0.3% during the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider's stock valued at $260,265,000 after acquiring an additional 3,882 shares during the period. River Road Asset Management LLC boosted its holdings in WEX by 5.0% during the 3rd quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider's stock valued at $151,103,000 after acquiring an additional 34,264 shares during the period. Finally, Loomis Sayles & Co. L P boosted its holdings in WEX by 5.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 308,065 shares of the business services provider's stock valued at $64,611,000 after acquiring an additional 16,739 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.
WEX Stock Down 0.4 %
Shares of WEX traded down $0.65 during midday trading on Friday, hitting $157.07. The company had a trading volume of 617,998 shares, compared to its average volume of 536,990. 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 $146.03 and a 1 year high of $244.04. The firm has a market capitalization of $6.10 billion, a P/E ratio of 20.94, a P/E/G ratio of 2.06 and a beta of 1.58. The company's 50-day simple moving average is $170.52 and its 200-day simple moving average is $183.46.
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%. As a group, sell-side analysts expect that WEX Inc. will post 14.09 EPS for the current year.
Analysts Set New Price Targets
A number of equities analysts recently commented on WEX shares. Citigroup cut WEX from a "buy" rating to a "neutral" rating and lowered their target price for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Barclays lowered their target price on WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a report on Monday, February 10th. Keefe, Bruyette & Woods lowered their target price on WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, February 7th. William Blair restated a "market perform" rating on shares of WEX in a report on Thursday, February 6th. Finally, Jefferies Financial Group raised their target price on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, WEX currently has an average rating of "Hold" and a consensus target price of $195.73.
Check Out Our Latest Research Report on WEX
WEX Profile
(
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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