WCM Investment Management LLC Has $18.97 Million Position in WEX Inc. (NYSE:WEX)

WCM Investment Management LLC lessened its stake in shares of WEX Inc. (NYSE:WEX) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 111,128 shares of the business services provider’s stock after selling 2,095 shares during the quarter. WCM Investment Management LLC’s holdings in WEX were worth $18,967,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of WEX. Commerce Bank grew its holdings in WEX by 1.7% in the 3rd quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock valued at $760,000 after buying an additional 60 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its position in WEX by 0.6% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock worth $1,959,000 after acquiring an additional 70 shares during the period. GAMMA Investing LLC raised its stake in WEX by 40.7% in the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after purchasing an additional 87 shares in the last quarter. Covestor Ltd boosted its holdings in WEX by 47.3% in the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 89 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in shares of WEX by 206.1% during the third 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 during the period. Institutional investors own 97.47% of the company’s stock.

Insider Buying and Selling

In related news, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the completion of the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

WEX has been the topic of a number of recent analyst reports. 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 report on Friday. UBS Group reduced their target price on WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a report on Friday. William Blair reiterated a “market perform” rating on shares of WEX in a research report on Thursday. Jefferies Financial Group boosted their target price on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Finally, Barclays reaffirmed an “equal weight” rating and issued a $200.00 target price (down previously from $207.00) on shares of WEX in a report on Tuesday, December 17th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, WEX currently has a consensus rating of “Hold” and a consensus target price of $210.58.

WEX Stock Up 0.0 %

Shares of WEX stock opened at $152.00 on Friday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. WEX Inc. has a 52-week low of $146.03 and a 52-week high of $244.04. The company’s 50 day moving average price is $177.60 and its 200-day moving average price is $185.77. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.24 and a beta of 1.58.

WEX (NYSE:WEX) last announced its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Equities research analysts forecast that WEX Inc. will post 14.27 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.