WEX Inc. (NYSE:WEX) Stake Lowered by State of Michigan Retirement System

State of Michigan Retirement System trimmed its position in shares of WEX Inc. (NYSE:WEX) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,375 shares of the business services provider’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in WEX were worth $1,644,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of WEX. Venturi Wealth Management LLC raised its stake in shares of WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after purchasing an additional 101 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in WEX in the third quarter worth approximately $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. lifted its stake in WEX by 552.5% in 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 during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in WEX by 25.3% in 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 during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Barclays cut their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. William Blair restated a “market perform” rating on shares of WEX in a report on Thursday, February 6th. Mizuho decreased 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. Jefferies Financial Group increased their price objective on WEX from $180.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods reduced their target price on WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, WEX has a consensus rating of “Hold” and an average target price of $195.73.

WEX Price Performance

NYSE:WEX opened at $158.68 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 stock has a market cap of $6.16 billion, a P/E ratio of 21.16, a PEG ratio of 2.06 and a beta of 1.61. The company has a fifty day moving average price of $168.83 and a 200 day moving average price of $182.68. WEX Inc. has a one year low of $146.03 and a one year high of $244.04.

WEX (NYSE:WEX) last released its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share 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%. Analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current 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.