CIBC Private Wealth Group LLC Sells 151 Shares of WEX Inc. (NYSE:WEX)

CIBC Private Wealth Group LLC lowered its position in WEX Inc. (NYSE:WEX) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,837 shares of the business services provider’s stock after selling 151 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in WEX were worth $671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Captrust Financial Advisors boosted its stake in WEX by 191.9% during the third quarter. Captrust Financial Advisors now owns 3,485 shares of the business services provider’s stock worth $731,000 after buying an additional 2,291 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of WEX during the 3rd quarter valued at about $727,000. HighTower Advisors LLC increased its stake in WEX by 79.5% in the third quarter. HighTower Advisors LLC now owns 6,436 shares of the business services provider’s stock valued at $1,347,000 after acquiring an additional 2,851 shares during the period. Quantinno Capital Management LP increased its stake in WEX by 19.7% in the third quarter. Quantinno Capital Management LP now owns 13,868 shares of the business services provider’s stock valued at $2,909,000 after acquiring an additional 2,286 shares during the period. Finally, State Street Corp raised its position in WEX by 0.3% in the third quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock worth $260,265,000 after purchasing an additional 3,882 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WEX has been the topic of several analyst reports. UBS Group lowered their price objective on WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Citigroup cut WEX from a “buy” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Barclays cut their price objective on WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Robert W. Baird set a $186.00 target price on shares of WEX in a research note on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods dropped their target price 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. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $187.80.

WEX Price Performance

Shares of WEX stock opened at $126.88 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.06 and a beta of 1.61. The firm’s 50 day moving average is $158.97 and its 200-day moving average is $177.75. WEX Inc. has a 1 year low of $124.30 and a 1 year high of $242.44.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. Sell-side analysts forecast 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.