Victory Capital Management Inc. Reduces Stock Position in WEX Inc. (NYSE:WEX)

Victory Capital Management Inc. lessened its stake in shares of WEX Inc. (NYSE:WEX) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,536 shares of the business services provider’s stock after selling 329 shares during the quarter. Victory Capital Management Inc.’s holdings in WEX were worth $1,321,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Commerce Bank lifted its stake in shares of WEX by 1.7% in the 3rd quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock worth $760,000 after purchasing an additional 60 shares during the period. CIBC Asset Management Inc lifted its stake in shares of WEX by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock worth $225,000 after purchasing an additional 65 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of WEX by 25.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after purchasing an additional 66 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of WEX by 0.6% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock worth $1,959,000 after purchasing an additional 70 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of WEX by 108.4% in the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Trading Down 1.6 %

WEX stock opened at $155.49 on Wednesday. The stock has a market cap of $6.04 billion, a P/E ratio of 20.73, a PEG ratio of 2.06 and a beta of 1.61. 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 firm’s 50 day moving average price is $165.84 and its 200-day moving average price is $181.08.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Mizuho lowered their price objective on shares of WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Robert W. Baird set a $186.00 price objective on shares of WEX in a research note on Tuesday, February 18th. William Blair restated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Finally, 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. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.