Dana Investment Advisors Inc. Sells 1,480 Shares of WEX Inc. (NYSE:WEX)

Dana Investment Advisors Inc. lowered its position in shares of WEX Inc. (NYSE:WEX) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,893 shares of the business services provider’s stock after selling 1,480 shares during the period. Dana Investment Advisors Inc. owned 0.07% of WEX worth $4,540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Verdence Capital Advisors LLC grew its holdings in WEX by 1.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 20,531 shares of the business services provider’s stock valued at $3,599,000 after buying an additional 334 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of WEX in the fourth quarter valued at about $7,807,000. Cornerstone Investment Partners LLC grew its stake in shares of WEX by 3.3% in the fourth quarter. Cornerstone Investment Partners LLC now owns 4,572 shares of the business services provider’s stock valued at $802,000 after acquiring an additional 144 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in WEX by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,682 shares of the business services provider’s stock worth $55,521,000 after acquiring an additional 2,244 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in WEX by 263.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 491 shares of the business services provider’s stock worth $86,000 after purchasing an additional 356 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on WEX shares. Bank of America lowered shares of WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. UBS Group reduced their price target on WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Citigroup cut WEX from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Jefferies Financial Group upped their target price on WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Finally, Mizuho decreased their price target on WEX from $215.00 to $170.00 and set an “outperform” 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 given a buy rating to the company’s stock. According to MarketBeat.com, WEX currently has an average rating of “Hold” and a consensus target price of $195.73.

WEX Stock Performance

WEX stock opened at $154.38 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The stock has a market cap of $5.99 billion, a PE ratio of 20.58, a P/E/G ratio of 2.06 and a beta of 1.58. WEX Inc. has a 12-month low of $146.03 and a 12-month high of $244.04. The business’s 50-day moving average price is $169.53 and its two-hundred day moving average price is $183.04.

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, analysts expect that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

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.