Wellington Management Group LLP Reduces Stock Holdings in WEX Inc. (NYSE:WEX)

Wellington Management Group LLP lowered its holdings in WEX Inc. (NYSE:WEX - Free Report) by 68.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 828,990 shares of the business services provider's stock after selling 1,778,170 shares during the quarter. Wellington Management Group LLP owned approximately 2.14% of WEX worth $145,339,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WEX. Brandywine Global Investment Management LLC bought a new stake in shares of WEX during the fourth quarter valued at approximately $4,285,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of WEX during the 4th quarter valued at $3,446,000. Pictet Asset Management Holding SA grew its position in shares of WEX by 7.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,008 shares of the business services provider's stock worth $1,053,000 after buying an additional 393 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of WEX in the 4th quarter worth about $1,580,000. Finally, Norges Bank purchased a new position in WEX during the 4th quarter valued at about $80,535,000. 97.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WEX has been the topic of a number of recent research reports. Robert W. Baird set a $186.00 price objective on shares of WEX in a report on Tuesday, February 18th. Keefe, Bruyette & Woods cut their price target on WEX from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Jefferies Financial Group lifted their price objective on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, January 22nd. William Blair reissued a "market perform" rating on shares of WEX in a research note on Thursday, February 6th. Finally, Citigroup downgraded WEX from a "buy" rating to a "neutral" rating and reduced their price target for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $187.80.

Remove Ads

WEX Stock Performance

Shares of WEX stock traded down $0.69 during trading on Tuesday, hitting $119.47. 258,767 shares of the company's stock traded hands, compared to its average volume of 923,717. WEX Inc. has a 1 year low of $117.00 and a 1 year high of $241.77. The business has a 50-day simple moving average of $157.70 and a 200-day simple moving average of $176.79. 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 $4.64 billion, a P/E ratio of 15.95, a PEG ratio of 2.06 and a beta of 1.33.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping 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 forecast that WEX Inc. will post 14.09 EPS for the current 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.