Swiss National Bank Sells 1,100 Shares of WEX Inc. (NYSE:WEX)

Swiss National Bank lowered its position in WEX Inc. (NYSE:WEX) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,726 shares of the business services provider’s stock after selling 1,100 shares during the period. Swiss National Bank’s holdings in WEX were worth $14,153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealthfront Advisers LLC acquired a new stake in WEX in the fourth quarter worth about $28,689,000. FMR LLC grew its holdings in WEX by 8.8% during the 3rd 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. Hotchkis & Wiley Capital Management LLC raised its position in shares of WEX by 82.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 175,690 shares of the business services provider’s stock valued at $36,847,000 after acquiring an additional 79,252 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of WEX in the 4th quarter worth $12,444,000. Finally, Fisher Asset Management LLC boosted its position in shares of WEX by 168.8% in the 4th quarter. Fisher Asset Management LLC now owns 82,896 shares of the business services provider’s stock worth $14,533,000 after purchasing an additional 52,056 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Price Performance

Shares of NYSE WEX opened at $154.55 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The business’s 50 day moving average price is $165.43 and its two-hundred day moving average price is $180.90. The company has a market cap of $6.00 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. WEX Inc. has a twelve month low of $146.03 and a twelve month high of $244.04.

WEX (NYSE:WEX) last posted its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping 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%. On average, analysts predict that WEX Inc. will post 14.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WEX shares. Robert W. Baird set a $186.00 target price on WEX in a report on Tuesday, February 18th. Keefe, Bruyette & Woods reduced their price objective on shares of WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. UBS Group lowered their target price on shares of WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Wells Fargo & Company reduced their price target on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Finally, Barclays lowered their price objective on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $195.73.

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.