Fmr LLC Decreases Holdings in WEX Inc. (NYSE:WEX)

Fmr LLC lowered its holdings in WEX Inc. (NYSE:WEX) by 24.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,175,117 shares of the business services provider’s stock after selling 380,390 shares during the quarter. Fmr LLC owned about 2.95% of WEX worth $206,021,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WEX. JPMorgan Chase & Co. boosted its stake in WEX by 105.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider’s stock worth $358,812,000 after purchasing an additional 1,052,087 shares during the period. Norges Bank purchased a new stake in shares of WEX in the fourth quarter valued at about $80,535,000. Wealthfront Advisers LLC acquired a new stake in shares of WEX during the fourth quarter worth about $28,689,000. Raymond James Financial Inc. purchased a new position in shares of WEX during the fourth quarter worth about $12,444,000. Finally, Fisher Asset Management LLC increased its position in WEX by 168.8% in the 4th quarter. Fisher Asset Management LLC now owns 82,896 shares of the business services provider’s stock valued at $14,533,000 after acquiring an additional 52,056 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Performance

Shares of NYSE WEX opened at $126.00 on Friday. The stock has a market capitalization of $4.31 billion, a P/E ratio of 16.80, a P/E/G ratio of 2.06 and a beta of 1.33. The firm’s 50-day moving average price is $150.56 and its two-hundred day moving average price is $173.75. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $241.77. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share 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 forecast that WEX Inc. will post 14.09 earnings per share for the current year.

Analysts Set New Price Targets

WEX has been the subject of a number of analyst reports. UBS Group cut their price objective on shares of WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. Barclays cut their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. William Blair reissued a “market perform” rating on shares of WEX in a report on Thursday, February 6th. Finally, Jefferies Financial Group upped their price objective on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $187.80.

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.