WEX Inc. (NYSE:WEX) Stake Decreased by Sunriver Management LLC

Sunriver Management LLC trimmed its holdings in WEX Inc. (NYSE:WEX) by 32.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 178,579 shares of the business services provider’s stock after selling 85,954 shares during the quarter. WEX comprises about 3.7% of Sunriver Management LLC’s portfolio, making the stock its 15th biggest holding. Sunriver Management LLC’s holdings in WEX were worth $31,308,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in WEX during the 3rd quarter worth $35,000. Jones Financial Companies Lllp raised its stake in shares of WEX by 108.4% during the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 129 shares in the last quarter. UMB Bank n.a. lifted its holdings in WEX by 552.5% in the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after purchasing an additional 221 shares during the period. Quadrant Capital Group LLC grew its position in WEX by 72.2% in the 4th quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider’s stock valued at $48,000 after buying an additional 114 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after buying an additional 66 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Trading Up 1.3 %

Shares of NYSE WEX opened at $126.00 on Monday. The business has a fifty day simple moving average of $150.56 and a 200-day simple moving average of $173.52. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 2.06 and a beta of 1.33. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $239.30. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX) last announced its 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 net margin of 11.78% and a return on equity of 32.35%. Sell-side analysts predict that WEX Inc. will post 14.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays reduced their price target 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, February 10th. Citigroup downgraded WEX from a “buy” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $190.00 in a research report on Tuesday, January 14th. Bank of America cut WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. UBS Group cut their price objective on WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Finally, William Blair reaffirmed a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, WEX has a consensus rating of “Hold” and a consensus price target of $187.80.

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.