Harbor Capital Advisors Inc. Has $3.25 Million Holdings in WEX Inc. (NYSE:WEX)

Harbor Capital Advisors Inc. decreased its stake in shares of WEX Inc. (NYSE:WEX) by 25.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 18,508 shares of the business services provider’s stock after selling 6,361 shares during the period. Harbor Capital Advisors Inc.’s holdings in WEX were worth $3,245,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Choreo LLC bought a new position in shares of WEX in the second quarter valued at approximately $212,000. American Century Companies Inc. lifted its position in WEX by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock worth $1,847,000 after acquiring an additional 68 shares during the last quarter. Qsemble Capital Management LP bought a new stake in WEX during the second quarter valued at about $718,000. Federated Hermes Inc. boosted its holdings in WEX by 3.0% during the second quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider’s stock valued at $71,275,000 after acquiring an additional 11,821 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of WEX by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 50,370 shares of the business services provider’s stock valued at $8,922,000 after purchasing an additional 603 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

Insider Buying and Selling at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the business’s 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 transaction, the chief operating officer now owns 7,582 shares of the company’s stock, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

WEX Trading Down 2.5 %

Shares of WEX opened at $170.52 on Friday. 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 market cap of $6.78 billion, a PE ratio of 21.64, a PEG 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 stock has a 50 day simple moving average of $178.84 and a 200-day simple moving average of $185.89.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $688.03 million. During the same period last year, the business earned $3.44 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts predict that WEX Inc. will post 13.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on WEX shares. Jefferies Financial Group increased their target price on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Barclays restated an “equal weight” rating and issued a $200.00 price objective (down previously from $207.00) on shares of WEX in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods cut their target price on shares of WEX from $247.00 to $220.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Bank of America raised their price target on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Robert W. Baird cut their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, WEX presently has a consensus rating of “Moderate Buy” and an average target price of $227.73.

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.