Maryland State Retirement & Pension System Has $371,000 Stock Holdings in WEX Inc. (NYSE:WEX)

Maryland State Retirement & Pension System reduced its stake in shares of WEX Inc. (NYSE:WEX) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,116 shares of the business services provider’s stock after selling 268 shares during the quarter. Maryland State Retirement & Pension System’s holdings in WEX were worth $371,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in WEX during the third quarter valued at approximately $35,000. Jones Financial Companies Lllp lifted its position in shares of WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after buying an additional 129 shares during the last quarter. UMB Bank n.a. boosted 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 buying an additional 221 shares in the last quarter. Brooklyn Investment Group bought a new position in WEX in the third quarter valued at about $59,000. Finally, Smartleaf Asset Management LLC raised its stake in WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after acquiring an additional 66 shares in the last quarter. Institutional investors own 97.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WEX. William Blair reaffirmed a “market perform” rating on shares of WEX in a report on Thursday, February 6th. UBS Group decreased their target price on shares of WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Wells Fargo & Company dropped their price target on WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Mizuho reduced their price objective on WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Finally, Jefferies Financial Group increased their target price on WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $195.73.

WEX Trading Down 2.3 %

WEX opened at $153.93 on Wednesday. WEX Inc. has a twelve month low of $146.03 and a twelve month high of $244.04. The company has a fifty day moving average of $163.98 and a 200-day moving average of $179.94. The stock has a market cap of $5.97 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. On average, sell-side analysts predict that WEX Inc. will post 14.09 EPS for the current 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.