WEX Inc. (NYSE:WEX) Stake Lessened by Bath Savings Trust Co

Bath Savings Trust Co reduced its position in WEX Inc. (NYSE:WEX - Free Report) by 38.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,802 shares of the business services provider's stock after selling 8,158 shares during the quarter. Bath Savings Trust Co's holdings in WEX were worth $2,010,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Barclays PLC raised its holdings in shares of WEX by 38.4% in the third quarter. Barclays PLC now owns 21,535 shares of the business services provider's stock valued at $4,516,000 after buying an additional 5,972 shares during the last quarter. Blue Trust Inc. lifted its position in shares of WEX by 231.1% during the 4th quarter. Blue Trust Inc. now owns 1,384 shares of the business services provider's stock valued at $243,000 after acquiring an additional 966 shares during the period. KBC Group NV boosted its stake in shares of WEX by 53.7% during the 4th quarter. KBC Group NV now owns 1,825 shares of the business services provider's stock worth $320,000 after acquiring an additional 638 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in WEX by 0.6% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider's stock worth $1,959,000 after purchasing an additional 70 shares in the last quarter. Finally, Level Wealth Management LLC purchased a new stake in shares of WEX in the 4th quarter worth about $219,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WEX has been the topic of a number of recent research reports. William Blair reaffirmed a "market perform" rating on shares of WEX in a research note on Thursday, February 6th. Bank of America downgraded WEX from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. Barclays cut their price target on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. Oppenheimer assumed coverage on shares of WEX in a research report on Thursday, May 15th. They set a "market perform" rating for the company. Finally, Wells Fargo & Company decreased their price target on WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, WEX presently has a consensus rating of "Hold" and a consensus price target of $176.90.

WEX Stock Performance

NYSE:WEX traded down $1.42 during trading hours on Friday, reaching $133.03. 400,032 shares of the stock were exchanged, compared to its average volume of 565,609. The stock has a market capitalization of $4.56 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.06 and a beta of 1.26. The firm has a 50 day simple moving average of $132.67 and a 200-day simple moving average of $157.49. 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 Inc. has a 52 week low of $110.45 and a 52 week high of $217.47.

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

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.