Voya Investment Management LLC Decreases Position in WEX Inc. (NYSE:WEX)

Voya Investment Management LLC decreased its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,008 shares of the business services provider's stock after selling 2,389 shares during the quarter. Voya Investment Management LLC's holdings in WEX were worth $1,053,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LPL Financial LLC boosted its holdings in shares of WEX by 13.2% in the fourth quarter. LPL Financial LLC now owns 29,408 shares of the business services provider's stock valued at $5,283,000 after purchasing an additional 3,439 shares during the period. Fifth Third Bancorp grew its position in shares of WEX by 1,635.8% during the 4th 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 in the last quarter. Smartleaf Asset Management LLC increased its stake 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 valued at $56,000 after buying an additional 66 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of WEX by 7.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,008 shares of the business services provider's stock valued at $1,053,000 after acquiring an additional 393 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in WEX by 108.4% in the fourth 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. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Stock Performance

Shares of WEX stock traded up $0.45 during trading on Friday, hitting $127.17. 408,027 shares of the company's stock were exchanged, compared to its average volume of 559,592. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 2.06 and a beta of 1.26. The business has a 50-day simple moving average of $138.41 and a 200-day simple moving average of $162.27. WEX Inc. has a 52-week low of $110.45 and a 52-week 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.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.11. The business had revenue of $636.60 million during the quarter, compared to analysts' expectations of $631.42 million. WEX had a return on equity of 32.35% and a net margin of 11.78%. The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.46 EPS. On average, research analysts forecast that WEX Inc. will post 14.09 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on WEX. Mizuho reduced their price target 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. Jefferies Financial Group raised their price objective on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods reduced their target price on shares of WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Robert W. Baird set a $186.00 price objective on shares of WEX in a research report on Tuesday, February 18th. Finally, Barclays decreased their target price on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research report on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company 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.