Rhumbline Advisers Has $21.13 Million Stock Position in WEX Inc. (NYSE:WEX)

Rhumbline Advisers decreased its holdings in WEX Inc. (NYSE:WEX - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,502 shares of the business services provider's stock after selling 1,905 shares during the quarter. Rhumbline Advisers owned 0.30% of WEX worth $21,126,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WEX. Venturi Wealth Management LLC raised its position in shares of WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock valued at $31,000 after buying an additional 101 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in WEX in the third quarter worth $35,000. UMB Bank n.a. boosted its stake in WEX by 552.5% during the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock worth $46,000 after buying an additional 221 shares during the period. Covestor Ltd boosted its stake in WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider's stock worth $58,000 after buying an additional 89 shares during the period. Finally, Brooklyn Investment Group purchased a new position in WEX during the third quarter worth $59,000. Hedge funds and other institutional investors own 97.47% of the company's stock.

Insider Transactions at WEX

In related news, COO Robert Joseph Deshaies sold 175 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the sale, the chief operating officer now owns 7,582 shares of the company's stock, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

WEX Price Performance

WEX stock traded down $2.40 during trading hours on Friday, hitting $150.48. The stock had a trading volume of 514,129 shares, compared to its average volume of 517,671. 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 capitalization of $5.99 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.08 and a beta of 1.58. WEX Inc. has a 1-year low of $146.03 and a 1-year high of $244.04. The stock's fifty day moving average is $172.57 and its two-hundred day moving average is $184.15.

WEX (NYSE:WEX - Get Free Report) last released 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, analysts predict that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America lowered shares of WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Citigroup downgraded WEX from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Wells Fargo & Company decreased their price objective on WEX from $180.00 to $160.00 and set an "equal weight" rating for the company in a report on Friday, February 7th. William Blair reiterated a "market perform" rating on shares of WEX in a report on Thursday, February 6th. Finally, Barclays cut their price objective on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $199.73.

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.