Focus Partners Wealth Has $849,000 Stock Holdings in WEX Inc. (NYSE:WEX)

Focus Partners Wealth decreased its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 98.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,843 shares of the business services provider's stock after selling 327,820 shares during the quarter. Focus Partners Wealth's holdings in WEX were worth $849,000 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 WEX. LPL Financial LLC increased its position in WEX by 13.2% during the 4th 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 in the last quarter. Fifth Third Bancorp grew its stake in shares of WEX by 1,635.8% during the fourth quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider's stock worth $1,540,000 after buying an additional 8,277 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of 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 in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of WEX by 25.3% in 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 during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock valued at $43,000 after acquiring an additional 129 shares in the last quarter. Institutional investors own 97.47% of the company's stock.

WEX Trading Up 3.3%

Shares of NYSE WEX traded up $4.34 during midday trading on Thursday, reaching $137.34. The stock had a trading volume of 664,725 shares, compared to its average volume of 563,193. WEX Inc. has a twelve month low of $110.45 and a twelve month high of $217.47. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The company's 50 day moving average price is $135.65 and its 200 day moving average price is $159.86. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share (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 firm had revenue of $636.60 million for the quarter, compared to analysts' expectations of $631.42 million. During the same period in the prior year, the business earned $3.46 EPS. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that WEX Inc. will post 14.09 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on WEX. Bank of America downgraded WEX from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. William Blair reaffirmed a "market perform" rating on shares of WEX in a research note on Thursday, February 6th. Mizuho dropped their price objective on shares of WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Robert W. Baird set a $186.00 target price on shares of WEX in a report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods decreased their price target 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. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, WEX presently has an average rating of "Hold" and a consensus price target of $182.40.

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.