Janus Henderson Group PLC Reduces Stake in WEX Inc. (NYSE:WEX)

Janus Henderson Group PLC lessened its stake in shares of WEX Inc. (NYSE:WEX) by 2.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,052,379 shares of the business services provider’s stock after selling 111,299 shares during the quarter. Janus Henderson Group PLC owned about 0.10% of WEX worth $710,470,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WEX. Wilmington Savings Fund Society FSB bought a new stake in WEX during the 3rd quarter worth approximately $35,000. Jones Financial Companies Lllp increased its holdings in shares of 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 purchasing an additional 129 shares during the period. UMB Bank n.a. raised its position in shares of WEX by 552.5% in the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after buying an additional 221 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in WEX by 72.2% during the fourth quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider’s stock valued at $48,000 after buying an additional 114 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in 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. 97.47% of the stock is currently owned by institutional investors.

WEX Stock Up 0.4 %

Shares of NYSE:WEX opened at $127.17 on Friday. The stock has a market capitalization of $4.35 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The stock’s 50-day moving average price is $138.41 and its 200-day moving average price is $161.92. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47.

WEX (NYSE:WEX) 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 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 for the quarter, compared to analyst estimates of $631.42 million. During the same period last year, the company earned $3.46 EPS. WEX’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

WEX has been the subject of a number of research analyst reports. Barclays dropped their price target on WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Jefferies Financial Group boosted their price target on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. UBS Group decreased their price target on shares of WEX from $172.00 to $138.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Robert W. Baird set a $186.00 price objective on shares of WEX in a report on Tuesday, February 18th. Finally, Bank of America cut WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. 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, the stock currently 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.