WCM Investment Management LLC Decreases Stake in WEX Inc. (NYSE:WEX)

WCM Investment Management LLC trimmed its holdings in WEX Inc. (NYSE:WEX) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,128 shares of the business services provider’s stock after selling 2,095 shares during the period. WCM Investment Management LLC owned 0.28% of WEX worth $18,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WEX. Allspring Global Investments Holdings LLC raised its holdings in shares of WEX by 124.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 40,870 shares of the business services provider’s stock worth $8,572,000 after acquiring an additional 22,638 shares during the period. Natixis Advisors LLC grew its holdings in shares of WEX by 300.4% during the 3rd quarter. Natixis Advisors LLC now owns 68,539 shares of the business services provider’s stock worth $14,375,000 after purchasing an additional 51,423 shares during the period. Fifth Third Bancorp raised its holdings in WEX by 1,635.8% in the 4th quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider’s stock valued at $1,540,000 after buying an additional 8,277 shares during the period. Rice Hall James & Associates LLC boosted its stake in WEX by 672.7% during the third quarter. Rice Hall James & Associates LLC now owns 154,033 shares of the business services provider’s stock worth $32,305,000 after buying an additional 134,099 shares during the period. Finally, Atria Investments Inc raised its stake in shares of WEX by 289.0% in the 3rd quarter. Atria Investments Inc now owns 6,528 shares of the business services provider’s stock valued at $1,369,000 after acquiring an additional 4,850 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WEX shares. Jefferies Financial Group increased their target price on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Robert W. Baird decreased their price objective on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Keefe, Bruyette & Woods lowered their price target on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Friday. Finally, Wells Fargo & Company cut their price target on WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, WEX has an average rating of “Hold” and an average target price of $210.58.

WEX Price Performance

Shares of NYSE WEX opened at $152.00 on Friday. 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 market cap of $6.05 billion, a PE ratio of 20.27, a P/E/G ratio of 1.24 and a beta of 1.58. WEX Inc. has a 1-year low of $146.03 and a 1-year high of $244.04. The stock has a fifty day moving average price of $177.60 and a 200 day moving average price of $185.77.

WEX (NYSE:WEX) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Sell-side analysts forecast that WEX Inc. will post 14.27 EPS for the current year.

Insider Transactions at WEX

In related news, COO Robert Joseph Deshaies sold 175 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the sale, the chief operating officer now owns 7,582 shares of the company’s stock, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

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.