WEX Inc. (NYSE:WEX) Stake Raised by Earnest Partners LLC

Earnest Partners LLC grew its holdings in WEX Inc. (NYSE:WEX - Free Report) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 872,734 shares of the business services provider's stock after acquiring an additional 8,780 shares during the period. Earnest Partners LLC owned 2.19% of WEX worth $153,008,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Aquatic Capital Management LLC purchased a new stake in shares of WEX in the fourth quarter worth $4,776,000. Susquehanna Fundamental Investments LLC purchased a new position in WEX during the fourth quarter valued at $7,278,000. Snyder Capital Management L P grew its stake in WEX by 48.4% during the fourth quarter. Snyder Capital Management L P now owns 151,625 shares of the business services provider's stock valued at $26,583,000 after acquiring an additional 49,484 shares in the last quarter. Two Sigma Securities LLC purchased a new position in WEX during the fourth quarter valued at $298,000. Finally, Pinebridge Investments L.P. grew its stake in WEX by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 17,091 shares of the business services provider's stock valued at $2,996,000 after acquiring an additional 5,112 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

WEX Stock Performance

Shares of NYSE:WEX traded down $1.16 during midday trading on Wednesday, hitting $130.59. The stock had a trading volume of 800,781 shares, compared to its average volume of 552,090. The company has a market capitalization of $4.47 billion, a PE ratio of 17.41, a P/E/G ratio of 2.06 and a beta of 1.33. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $217.47. The stock has a 50 day moving average price of $142.85 and a two-hundred day moving average price of $166.61. 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 - Get Free Report) last announced its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 predict that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WEX has been the topic of a number of analyst reports. UBS Group cut their target price on WEX from $200.00 to $172.00 and set a "neutral" rating on the stock in a research note on Friday, February 7th. 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 note on Wednesday, January 22nd. Citigroup cut WEX from a "buy" rating to a "neutral" rating and cut their target price for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. Wells Fargo & Company cut their target price on WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Robert W. Baird set a $186.00 price objective on WEX in a research note on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $185.80.

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.