Ensign Peak Advisors Inc Decreases Holdings in WEX Inc. (NYSE:WEX)

Ensign Peak Advisors Inc decreased its holdings in shares of WEX Inc. (NYSE:WEX) by 8.8% in the fourth quarter, HoldingsChannel reports. The fund owned 14,303 shares of the business services provider’s stock after selling 1,374 shares during the quarter. Ensign Peak Advisors Inc’s holdings in WEX were worth $2,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of WEX. Jones Financial Companies Lllp grew its position in shares of WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 129 shares during the period. UMB Bank n.a. grew its position in shares of WEX by 552.5% during the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 221 shares during the period. Quadrant Capital Group LLC grew its position in shares of WEX by 72.2% during the 4th quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 114 shares during the period. Smartleaf Asset Management LLC grew its position in shares of WEX by 25.3% during the 4th 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 during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of WEX during the 4th quarter valued at $74,000. Institutional investors own 97.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of WEX from $160.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods cut their price objective on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Barclays dropped their target price on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Jefferies Financial Group upped their target price on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Finally, Robert W. Baird set a $186.00 target price on shares of WEX in a report on Tuesday, February 18th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, WEX presently has an average rating of “Hold” and an average target price of $182.40.

WEX Stock Down 0.3%

WEX opened at $137.10 on Friday. The firm has a 50-day simple moving average of $136.88 and a two-hundred day simple moving average of $160.86. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $217.47. The company has a market capitalization of $4.69 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.40 by $0.11. WEX had a net margin of 11.78% and a return on equity of 32.35%. The business had revenue of $636.60 million during the quarter, compared to the consensus estimate of $631.42 million. During the same quarter in the prior year, the firm earned $3.46 EPS. The business’s revenue was down 2.5% on a year-over-year basis. Analysts forecast that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

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.