WCM Investment Management LLC Lowers Stock Position in WEX Inc. (NYSE:WEX)

WCM Investment Management LLC reduced its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,128 shares of the business services provider's stock after selling 2,095 shares during the quarter. WCM Investment Management LLC owned 0.28% of WEX worth $18,967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of WEX by 40.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the business services provider's stock valued at $77,000 after acquiring an additional 124 shares in the last quarter. Truist Financial Corp boosted its position in WEX by 21.0% during the 2nd quarter. Truist Financial Corp now owns 2,943 shares of the business services provider's stock worth $521,000 after buying an additional 510 shares during the period. Cetera Investment Advisers lifted its position in shares of WEX by 4.4% in the 2nd quarter. Cetera Investment Advisers now owns 13,874 shares of the business services provider's stock worth $2,458,000 after purchasing an additional 585 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of WEX during the 2nd quarter valued at $397,000. Finally, GAMMA Investing LLC increased its stake in WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider's stock valued at $63,000 after purchasing an additional 87 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

WEX has been the subject of several recent analyst reports. Bank of America lowered shares of WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Barclays reduced their target price on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research note on Monday. Citigroup downgraded shares of WEX from a "buy" rating to a "neutral" rating and cut their price target for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Wells Fargo & Company cut their price target on shares of WEX from $180.00 to $160.00 and set an "equal weight" rating on the stock in a report on Friday. Finally, Robert W. Baird dropped their price objective on shares of WEX from $285.00 to $230.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $199.73.

WEX Price Performance

Shares of WEX stock traded up $0.95 during trading on Tuesday, hitting $155.25. The company had a trading volume of 976,823 shares, compared to its average volume of 516,326. WEX Inc. has a 52 week low of $146.03 and a 52 week high of $244.04. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The stock's 50-day moving average is $176.89 and its two-hundred day moving average is $185.69. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings results 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 net margin of 11.78% and a return on equity of 32.35%. As a group, analysts predict that WEX Inc. will post 14.27 EPS for the current fiscal year.

WEX Company 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.