Victory Capital Management Inc. Sells 329 Shares of WEX Inc. (NYSE:WEX)

Victory Capital Management Inc. cut its stake in WEX Inc. (NYSE:WEX) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,536 shares of the business services provider’s stock after selling 329 shares during the quarter. Victory Capital Management Inc.’s holdings in WEX were worth $1,321,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC raised its holdings in WEX by 300.4% in the 3rd quarter. Natixis Advisors LLC now owns 68,539 shares of the business services provider’s stock worth $14,375,000 after purchasing an additional 51,423 shares in the last quarter. Fifth Third Bancorp raised its holdings in WEX by 1,635.8% in the 4th quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider’s stock worth $1,540,000 after purchasing an additional 8,277 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in WEX by 25.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after purchasing an additional 66 shares in the last quarter. KBC Group NV raised its holdings in WEX by 53.7% in the 4th quarter. KBC Group NV now owns 1,825 shares of the business services provider’s stock worth $320,000 after purchasing an additional 638 shares in the last quarter. Finally, Choreo LLC raised its holdings in WEX by 33.7% in the 4th quarter. Choreo LLC now owns 2,373 shares of the business services provider’s stock worth $405,000 after purchasing an additional 598 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

WEX Stock Performance

Shares of WEX stock opened at $155.49 on Wednesday. WEX Inc. has a one year low of $146.03 and a one year high of $244.04. The company’s 50-day moving average is $165.84 and its 200 day moving average is $181.08. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. 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) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating 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 expect that WEX Inc. will post 14.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WEX has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Robert W. Baird set a $186.00 price target on shares of WEX in a research note on Tuesday, February 18th. Jefferies Financial Group increased their price target on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. UBS Group decreased their price target on shares of WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Finally, William Blair reiterated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $195.73.

WEX Company 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.