Wells Fargo & Company MN Lowers Stock Position in WEX Inc. (NYSE:WEX)

Wells Fargo & Company MN lessened its position in WEX Inc. (NYSE:WEX - Free Report) by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,795 shares of the business services provider's stock after selling 26,839 shares during the quarter. Wells Fargo & Company MN owned 0.12% of WEX worth $8,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in WEX in the third quarter worth $35,000. Jones Financial Companies Lllp grew its stake in shares of WEX by 108.4% in the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock worth $43,000 after purchasing an additional 129 shares during the last quarter. UMB Bank n.a. raised its position 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. Smartleaf Asset Management LLC lifted its stake in WEX by 25.3% in the fourth 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. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of WEX by 263.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 491 shares of the business services provider's stock worth $86,000 after purchasing an additional 356 shares during the period. 97.47% of the stock is owned by hedge funds and other institutional investors.

WEX Trading Up 0.5 %

Shares of WEX opened at $123.25 on Friday. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 2.06 and a beta of 1.33. The company has a 50-day moving average of $148.30 and a 200 day moving average of $172.29. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $235.20. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04.

WEX (NYSE:WEX - Get Free Report) last released 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 return on equity of 32.35% and a net margin of 11.78%. On average, research analysts expect that WEX Inc. will post 14.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WEX. Robert W. Baird set a $186.00 target price on shares of WEX in a report on Tuesday, February 18th. Jefferies Financial Group increased their price objective on shares of WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods reduced their price target on shares of WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Barclays dropped their price objective on WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a research report on Monday, February 10th. Finally, William Blair restated a "market perform" rating on shares of WEX in a research report on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, WEX has an average rating of "Hold" and an average target price of $187.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.