Rice Hall James & Associates LLC cut its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,030 shares of the business services provider's stock after selling 10,003 shares during the period. WEX comprises approximately 1.4% of Rice Hall James & Associates LLC's investment portfolio, making the stock its 19th biggest position. Rice Hall James & Associates LLC owned approximately 0.36% of WEX worth $25,251,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the business. Venturi Wealth Management LLC boosted its position in shares of WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock worth $31,000 after purchasing an additional 101 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in WEX in the 3rd quarter valued at about $35,000. UMB Bank n.a. increased its stake in WEX by 552.5% in the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock valued at $46,000 after buying an additional 221 shares during the last quarter. Covestor Ltd increased its stake in shares of WEX by 47.3% during the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider's stock worth $58,000 after purchasing an additional 89 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of WEX during the 3rd quarter worth approximately $59,000. Institutional investors own 97.47% of the company's stock.
WEX Price Performance
Shares of NYSE:WEX traded down $2.40 on Friday, reaching $150.48. The company's stock had a trading volume of 514,129 shares, compared to its average volume of 517,671. WEX Inc. has a 52-week low of $146.03 and a 52-week high of $244.04. The company has a market cap of $5.99 billion, a P/E ratio of 20.06, a PEG ratio of 2.08 and a beta of 1.58. The company has a 50-day simple moving average of $172.05 and a 200 day simple moving average of $184.02. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02.
WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share 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, equities research analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal year.
Insider Transactions at WEX
In other WEX news, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.
Analyst Ratings Changes
A number of research firms recently weighed in on WEX. Bank of America lowered shares of WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Jefferies Financial Group boosted their price target 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. Wells Fargo & Company dropped their price objective on shares of WEX from $180.00 to $160.00 and set an "equal weight" rating for the company in a report on Friday, February 7th. Citigroup downgraded shares of WEX from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. Finally, Robert W. Baird lowered their price target on shares of WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $199.73.
Check Out Our Latest Report on WEX
About WEX
(
Free Report)
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.
Read More
Before you consider WEX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and WEX wasn't on the list.
While WEX currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
