Rhumbline Advisers Cuts Stock Holdings in WEX Inc. (NYSE:WEX)

Rhumbline Advisers decreased its holdings in shares of WEX Inc. (NYSE:WEX) by 1.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 120,502 shares of the business services provider’s stock after selling 1,905 shares during the period. Rhumbline Advisers owned 0.30% of WEX worth $21,126,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WEX. Venturi Wealth Management LLC grew its position in shares of WEX by 206.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after buying an additional 101 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of WEX in the 3rd quarter worth approximately $35,000. UMB Bank n.a. grew its position in shares of WEX by 552.5% in the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after buying an additional 221 shares during the last quarter. Covestor Ltd grew its position in shares of WEX by 47.3% in the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after buying an additional 89 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of WEX in the 3rd quarter worth approximately $59,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Price Performance

Shares of NYSE WEX opened at $153.03 on Friday. The firm has a market cap of $6.09 billion, a PE ratio of 20.40, a PEG ratio of 2.15 and a beta of 1.58. The firm has a fifty day moving average of $172.57 and a 200 day moving average of $184.15. 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 Inc. has a one year low of $146.03 and a one year high of $244.04.

WEX (NYSE:WEX) last issued 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 net margin of 11.78% and a return on equity of 32.35%. As a group, research analysts predict that WEX Inc. will post 14.09 EPS for the current fiscal year.

Insider Transactions at WEX

In other news, COO Robert Joseph Deshaies sold 175 shares of the company’s stock in a transaction 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 owns 7,582 shares of the company’s stock, valued at $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on WEX shares. UBS Group dropped their target price on shares of WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Wells Fargo & Company dropped their target price on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Robert W. Baird dropped their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. William Blair restated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Finally, Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $199.73.

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.