WEX Inc. (NYSE:WEX) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its stake in WEX Inc. (NYSE:WEX - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,231 shares of the business services provider's stock after selling 3,756 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.17% of WEX worth $11,788,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WEX. Barclays PLC lifted its position in shares of WEX by 38.4% during the third quarter. Barclays PLC now owns 21,535 shares of the business services provider's stock worth $4,516,000 after purchasing an additional 5,972 shares in the last quarter. World Investment Advisors LLC acquired a new position in WEX in the 3rd quarter worth $2,507,000. Wilmington Savings Fund Society FSB purchased a new position in WEX in the 3rd quarter valued at about $35,000. Fifth Third Wealth Advisors LLC grew its stake in shares of WEX by 265.1% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,280 shares of the business services provider's stock valued at $926,000 after acquiring an additional 3,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of WEX during the fourth quarter worth about $1,168,000. 97.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WEX has been the subject of a number of recent analyst reports. William Blair restated a "market perform" rating on shares of WEX in a research note on Thursday, February 6th. Mizuho dropped their price target on shares of WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Jefferies Financial Group increased their price objective on shares of WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, January 22nd. Robert W. Baird set a $186.00 target price on shares of WEX in a research note on Tuesday, February 18th. Finally, Citigroup downgraded WEX from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $182.40.

WEX Stock Performance

NYSE:WEX traded down $1.23 during midday trading on Tuesday, reaching $122.38. 507,234 shares of the company traded hands, compared to its average volume of 557,243. 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 current ratio of 1.02 and a quick ratio of 1.04. The company has a fifty day moving average price of $140.96 and a 200 day moving average price of $164.03. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 16.32, 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 data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.11. The business had revenue of $636.60 million for the quarter, compared to analysts' expectations of $631.42 million. WEX had a net margin of 11.78% and a return on equity of 32.35%. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.46 EPS. On average, analysts expect that WEX Inc. will post 14.09 EPS for the current fiscal year.

About WEX

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.