Loomis Sayles & Co. L P Sells 1,154 Shares of WEX Inc. (NYSE:WEX)

Loomis Sayles & Co. L P cut its position in shares of WEX Inc. (NYSE:WEX) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 306,911 shares of the business services provider’s stock after selling 1,154 shares during the period. Loomis Sayles & Co. L P owned about 0.77% of WEX worth $53,808,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc boosted 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 in the last quarter. Smartleaf Asset Management LLC boosted its position in WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 66 shares in the last quarter. Xponance Inc. boosted its position in WEX by 1.4% during the 4th quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock valued at $853,000 after acquiring an additional 68 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of WEX by 0.6% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock valued at $1,959,000 after acquiring an additional 70 shares during the period. Finally, Truvestments Capital LLC raised its position in shares of WEX by 4.9% in the 4th quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock worth $296,000 after acquiring an additional 78 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Stock Up 2.1 %

Shares of WEX stock opened at $155.91 on Friday. WEX Inc. has a twelve month low of $146.03 and a twelve month high of $244.04. The stock has a market cap of $6.05 billion, a P/E ratio of 20.79, a P/E/G ratio of 2.06 and a beta of 1.61. The stock has a 50 day moving average of $162.87 and a 200 day moving average of $179.58. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX) last posted its 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, sell-side analysts expect that WEX Inc. will post 14.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WEX. Wells Fargo & Company dropped their price objective on WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Keefe, Bruyette & Woods reduced their price objective 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. Bank of America downgraded shares of WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. William Blair reissued a “market perform” rating on shares of WEX in a report on Thursday, February 6th. Finally, Mizuho cut their price target on shares of WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $187.80.

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.