Comerica Bank Sells 11,917 Shares of WEX Inc. (NYSE:WEX)

Comerica Bank decreased its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 43.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,306 shares of the business services provider's stock after selling 11,917 shares during the quarter. Comerica Bank's holdings in WEX were worth $2,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. LPL Financial LLC lifted its holdings in shares of WEX by 13.2% during the fourth quarter. LPL Financial LLC now owns 29,408 shares of the business services provider's stock worth $5,283,000 after purchasing an additional 3,439 shares during the period. Fifth Third Bancorp boosted its stake in shares of WEX by 1,635.8% in the 4th quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider's stock valued at $1,540,000 after purchasing an additional 8,277 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in WEX by 7.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,008 shares of the business services provider's stock worth $1,053,000 after buying an additional 393 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock valued at $56,000 after buying an additional 66 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock worth $43,000 after acquiring an additional 129 shares during the period. Institutional investors own 97.47% of the company's stock.

WEX Stock Up 0.4 %

NYSE WEX traded up $0.45 on Friday, reaching $127.17. The company had a trading volume of 408,027 shares, compared to its average volume of 560,491. 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 capitalization of $4.35 billion, a P/E ratio of 16.96, a P/E/G ratio of 2.06 and a beta of 1.26. The company's fifty day moving average is $138.41 and its 200 day moving average is $161.78. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $217.47.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.11. WEX had a return on equity of 32.35% and a net margin of 11.78%. The business had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. During the same period last year, the company posted $3.46 earnings per share. WEX's quarterly revenue was down 2.5% compared to the same quarter last year. Sell-side analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on WEX. Robert W. Baird set a $186.00 target price on WEX in a research report on Tuesday, February 18th. 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 report on Friday, February 7th. Mizuho dropped their target price on shares of WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company reduced their price target on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, Citigroup cut shares of WEX from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $260.00 to $190.00 in a research report on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, WEX presently has an average rating of "Hold" and an average price target of $182.40.

WEX Company 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.