Sunriver Management LLC Sells 85,954 Shares of WEX Inc. (NYSE:WEX)

Sunriver Management LLC reduced its position in WEX Inc. (NYSE:WEX - Free Report) by 32.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 178,579 shares of the business services provider's stock after selling 85,954 shares during the period. WEX comprises about 3.7% of Sunriver Management LLC's holdings, making the stock its 15th largest position. Sunriver Management LLC owned approximately 0.45% of WEX worth $31,308,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in WEX during the third quarter valued at approximately $35,000. Jones Financial Companies Lllp increased its position in WEX by 108.4% in the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock worth $43,000 after buying an additional 129 shares during the period. UMB Bank n.a. raised its stake in WEX by 552.5% during the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock valued at $46,000 after purchasing an additional 221 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of WEX by 72.2% in the fourth quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider's stock valued at $48,000 after buying an additional 114 shares during the period. Finally, Smartleaf Asset Management LLC lifted 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 worth $56,000 after acquiring an additional 66 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on WEX shares. Citigroup lowered shares of WEX from a "buy" rating to a "neutral" rating and lowered their price target for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Mizuho lowered their target price on shares of WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. Robert W. Baird set a $186.00 price target on shares of WEX in a research note on Tuesday, February 18th. William Blair reaffirmed a "market perform" rating on shares of WEX in a report on Thursday, February 6th. Finally, 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 report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $187.80.

WEX Price Performance

Shares of NYSE WEX traded up $0.65 during trading on Friday, reaching $123.25. The company had a trading volume of 534,049 shares, compared to its average volume of 546,093. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $235.20. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The business's 50 day moving average price is $147.68 and its 200-day moving average price is $171.70. The stock has a market cap of $4.22 billion, a PE ratio of 16.43, a PEG ratio of 2.06 and a beta of 1.33.

WEX (NYSE:WEX - Get Free Report) last announced 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 return on equity of 32.35% and a net margin of 11.78%. Analysts expect that WEX Inc. will post 14.09 earnings per share for the current year.

About WEX

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.