Globeflex Capital L P Reduces Holdings in WEX Inc. (NYSE:WEX)

Globeflex Capital L P lowered its position in shares of WEX Inc. (NYSE:WEX) by 29.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,836 shares of the business services provider’s stock after selling 764 shares during the period. Globeflex Capital L P’s holdings in WEX were worth $322,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Commerce Bank raised its stake in shares of WEX by 1.7% during the third quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock valued at $760,000 after purchasing an additional 60 shares during the period. CIBC Asset Management Inc raised its stake in shares of WEX by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 65 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 66 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of WEX by 0.6% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock worth $1,959,000 after buying an additional 70 shares during the last quarter. Finally, Truvestments Capital LLC increased its stake in shares of WEX by 4.9% in the fourth quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock worth $296,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

WEX has been the subject of a number of research analyst reports. Barclays dropped 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. Jefferies Financial Group lifted 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. Citigroup lowered shares of WEX from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. Bank of America lowered shares of WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Finally, Mizuho decreased their price objective on shares of WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, February 10th. 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, WEX presently has an average rating of “Hold” and a consensus price target of $195.73.

WEX Stock Performance

Shares of WEX opened at $154.47 on Friday. WEX Inc. has a 1 year low of $146.03 and a 1 year high of $244.04. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 20.60, 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. The firm has a fifty day moving average of $166.67 and a 200-day moving average of $181.60.

WEX (NYSE:WEX) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (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%. As a group, equities analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current year.

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.