WEX Inc. (NYSE:WEX) Stock Position Reduced by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lessened its stake in WEX Inc. (NYSE:WEX - Free Report) by 25.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,508 shares of the business services provider's stock after selling 6,361 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in WEX were worth $3,245,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC raised its stake in WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock valued at $31,000 after buying an additional 101 shares in the last quarter. Quarry LP increased its stake in WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider's stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in WEX during the third quarter worth about $35,000. Covestor Ltd raised its position 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 period. Finally, Brooklyn Investment Group acquired a new stake in WEX in the third quarter worth $59,000. Institutional investors own 97.47% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on WEX. Wolfe Research lowered shares of WEX from an "outperform" rating to a "peer perform" rating in a research note on Monday, October 28th. Robert W. Baird decreased their price objective on WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Wells Fargo & Company lowered their target price on WEX from $200.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Friday, October 25th. Barclays reiterated an "equal weight" rating and set a $200.00 price target (down previously from $207.00) on shares of WEX in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group raised their price target on WEX from $190.00 to $210.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, WEX has an average rating of "Moderate Buy" and a consensus target price of $227.73.

WEX Price Performance

WEX stock traded down $4.31 on Friday, hitting $170.52. 308,409 shares of the company's stock traded hands, compared to its average volume of 328,868. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 1.39 and a beta of 1.58. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The stock has a fifty day moving average of $178.77 and a 200-day moving average of $185.93.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts' consensus estimates of $3.82 by $0.53. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.44 EPS. On average, analysts forecast that WEX Inc. will post 13.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the completion of the sale, the chief operating officer now owns 7,582 shares in the company, valued at $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

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.