Nuveen Asset Management LLC Cuts Stock Position in WEX Inc. (NYSE:WEX)

Nuveen Asset Management LLC lessened its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 122,977 shares of the business services provider's stock after selling 3,167 shares during the period. Nuveen Asset Management LLC owned 0.31% of WEX worth $21,560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CIBC Asset Management Inc raised its holdings in WEX by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider's stock valued at $225,000 after buying an additional 65 shares during the period. Smartleaf Asset Management LLC grew its position in shares of WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after buying an additional 66 shares in the last quarter. Xponance Inc. grew its position in shares of WEX by 1.4% during the fourth quarter. Xponance Inc. now owns 4,864 shares of the business services provider's stock worth $853,000 after buying an additional 68 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of 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 buying an additional 70 shares in the last quarter. Finally, Truvestments Capital LLC grew its position in shares of WEX by 4.9% during the fourth quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider's stock worth $296,000 after buying an additional 78 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Stock Performance

NYSE WEX traded down $0.94 on Thursday, reaching $135.63. The stock had a trading volume of 49,549 shares, compared to its average volume of 815,077. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47. The business's 50-day moving average price is $133.56 and its 200 day moving average price is $158.32. The stock has a market cap of $4.64 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WEX. Keefe, Bruyette & Woods lowered their price objective on WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Oppenheimer started coverage on WEX in a report on Thursday, May 15th. They issued a "market perform" rating for the company. UBS Group lowered their price target on WEX from $172.00 to $138.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company lowered 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. Finally, Barclays lowered their price target on WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a report on Monday, February 10th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, WEX has an average rating of "Hold" and an average price target of $176.90.

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.