Corient Private Wealth LLC Sells 1,731 Shares of WEX Inc. (NYSE:WEX)

Corient Private Wealth LLC cut its stake in WEX Inc. (NYSE:WEX) by 16.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,080 shares of the business services provider’s stock after selling 1,731 shares during the quarter. Corient Private Wealth LLC’s holdings in WEX were worth $1,592,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in WEX by 21.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,630 shares of the business services provider’s stock worth $2,229,000 after purchasing an additional 1,886 shares during the last quarter. Commerce Bank lifted its holdings in shares of WEX by 1.7% during the third quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock worth $760,000 after buying an additional 60 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of WEX by 25.0% during the third quarter. Fisher Asset Management LLC now owns 30,840 shares of the business services provider’s stock worth $6,468,000 after buying an additional 6,167 shares in the last quarter. Bank of Montreal Can boosted its position in shares of WEX by 68.3% in the third quarter. Bank of Montreal Can now owns 12,438 shares of the business services provider’s stock valued at $2,601,000 after acquiring an additional 5,049 shares during the period. Finally, FMR LLC increased its position in WEX by 8.8% during the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock worth $326,237,000 after acquiring an additional 125,262 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Robert W. Baird set a $186.00 price objective on shares of WEX in a report on Tuesday, February 18th. Mizuho cut their price target on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Barclays cut their target price 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. Finally, William Blair restated a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, WEX has an average rating of “Hold” and a consensus target price of $195.73.

WEX Stock Down 2.3 %

WEX stock opened at $153.93 on Wednesday. The firm has a 50-day moving average price of $163.98 and a 200-day moving average price of $179.94. WEX Inc. has a 12 month low of $146.03 and a 12 month high of $244.04. 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 stock has a market capitalization of $5.97 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate 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.