Price T Rowe Associates Inc. MD Sells 3,756 Shares of WEX Inc. (NYSE:WEX)

Price T Rowe Associates Inc. MD reduced its stake in WEX Inc. (NYSE:WEX - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,231 shares of the business services provider's stock after selling 3,756 shares during the period. Price T Rowe Associates Inc. MD owned 0.17% of WEX worth $11,788,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc raised its stake in WEX by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider's stock worth $225,000 after buying an additional 65 shares during the period. Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 66 shares in the last quarter. Xponance Inc. raised 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 purchasing an additional 68 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of WEX by 0.6% in the 4th 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, Truvestments Capital LLC grew its position in WEX by 4.9% in the 4th quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider's stock valued at $296,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 97.47% of the company's stock.

WEX Price Performance

WEX stock traded up $3.46 during midday trading on Thursday, reaching $124.68. 94,436 shares of the stock were exchanged, compared to its average volume of 556,270. The company's fifty day moving average is $139.53 and its 200-day moving average is $163.44. 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 52 week low of $110.45 and a 52 week high of $217.47. The firm has a market cap of $4.27 billion, a PE ratio of 16.62, a PEG ratio of 2.06 and a beta of 1.26.

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, 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 company had revenue of $636.60 million for the quarter, compared to the consensus estimate of $631.42 million. During the same quarter last year, the business posted $3.46 earnings per share. The firm's revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that WEX Inc. will post 14.09 EPS for the current year.

Wall Street Analysts Forecast Growth

WEX has been the topic of several research reports. William Blair restated a "market perform" rating on shares of WEX in a report on Thursday, February 6th. Wells Fargo & Company cut their price target on WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Bank of America downgraded WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Citigroup cut WEX from a "buy" rating to a "neutral" rating and cut their target price for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group increased their price target on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, January 22nd. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.