Truist Financial Corp Sells 461 Shares of WEX Inc. (NYSE:WEX)

Truist Financial Corp lowered its holdings in WEX Inc. (NYSE:WEX) by 16.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,279 shares of the business services provider’s stock after selling 461 shares during the quarter. Truist Financial Corp’s holdings in WEX were worth $400,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Janus Henderson Group PLC increased its stake in WEX by 0.6% in the third quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after acquiring an additional 25,365 shares during the period. FMR LLC boosted its position in WEX by 8.8% in the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after buying an additional 125,262 shares in the last quarter. State Street Corp boosted its position in WEX by 0.3% in the third quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock valued at $260,265,000 after buying an additional 3,882 shares in the last quarter. River Road Asset Management LLC boosted its position in WEX by 5.0% in the third quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock valued at $151,103,000 after buying an additional 34,264 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in WEX by 5.7% in the third quarter. Loomis Sayles & Co. L P now owns 308,065 shares of the business services provider’s stock valued at $64,611,000 after buying an additional 16,739 shares in the last quarter. Institutional investors own 97.47% of the company’s stock.

WEX Trading Down 0.1 %

WEX opened at $154.73 on Wednesday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 2.06 and a beta of 1.58. The firm has a 50 day simple moving average of $170.20 and a 200 day simple moving average of $183.40. WEX Inc. has a fifty-two week low of $146.03 and a fifty-two week high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping 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%. On average, sell-side analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on WEX. William Blair restated a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. UBS Group reduced their price target 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. Citigroup lowered shares of WEX from a “buy” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods reduced their price target on shares of WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Barclays reduced their target price on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, WEX currently has an average rating of “Hold” and an average price target of $195.73.

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.