WEX Inc. (NYSE:WEX) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in WEX Inc. (NYSE:WEX - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,777,965 shares of the business services provider's stock after selling 69,343 shares during the quarter. Vanguard Group Inc. owned about 9.50% of WEX worth $662,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new stake in shares of WEX in the fourth quarter valued at approximately $28,689,000. FMR LLC increased its stake in shares of WEX by 8.8% in the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider's stock worth $326,237,000 after acquiring an additional 125,262 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of WEX by 82.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 175,690 shares of the business services provider's stock worth $36,847,000 after acquiring an additional 79,252 shares during the period. Raymond James Financial Inc. acquired a new position in shares of WEX during the 4th quarter valued at about $12,444,000. Finally, Fisher Asset Management LLC boosted its position in shares of WEX by 168.8% during the 4th quarter. Fisher Asset Management LLC now owns 82,896 shares of the business services provider's stock valued at $14,533,000 after acquiring an additional 52,056 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Stock Up 0.7 %

Shares of WEX stock traded up $1.07 during trading on Wednesday, reaching $161.99. The company's stock had a trading volume of 1,032,757 shares, compared to its average volume of 502,530. WEX Inc. has a 1-year low of $146.03 and a 1-year high of $244.04. The stock's 50-day moving average price is $161.28 and its 200 day moving average price is $178.61. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 2.06 and a beta of 1.61. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04.

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

Wall Street Analyst Weigh In

WEX has been the topic of a number of analyst reports. Robert W. Baird set a $186.00 target price on shares of WEX in a research note on Tuesday, February 18th. Mizuho decreased their price objective on WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Barclays lowered their price objective on WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research report on Monday, February 10th. Bank of America downgraded WEX from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. Finally, Jefferies Financial Group increased their price target on WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a report on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $187.80.

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.