WEX Inc. (NYSE:WEX) Shares Sold by Long Road Investment Counsel LLC

Long Road Investment Counsel LLC decreased its position in shares of WEX Inc. (NYSE:WEX) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,469 shares of the business services provider’s stock after selling 230 shares during the quarter. WEX accounts for approximately 1.9% of Long Road Investment Counsel LLC’s investment portfolio, making the stock its 15th largest holding. Long Road Investment Counsel LLC owned 0.07% of WEX worth $4,641,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of WEX during the third quarter worth about $35,000. Jones Financial Companies Lllp raised its position in WEX by 108.4% during the fourth 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 in the last quarter. UMB Bank n.a. raised its position in WEX by 552.5% during the fourth 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 in the last quarter. Brooklyn Investment Group purchased a new position in WEX during the third quarter valued at approximately $59,000. Finally, Smartleaf Asset Management LLC raised its position in WEX by 25.3% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Robert W. Baird set a $186.00 price objective on WEX in a research report on Tuesday, February 18th. Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Mizuho lowered their price objective on WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Keefe, Bruyette & Woods decreased their price target on WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, Citigroup lowered WEX from a “buy” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $195.73.

WEX Price Performance

Shares of NYSE WEX opened at $158.44 on Tuesday. The stock’s 50-day moving average is $166.28 and its two-hundred day moving average is $181.33. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. WEX Inc. has a 1-year low of $146.03 and a 1-year high of $244.04. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last released 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%. Analysts forecast that WEX Inc. will post 14.09 EPS 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.