WEX Inc. (NYSE:WEX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of WEX Inc. (NYSE:WEX) by 99.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 348 shares of the business services provider’s stock after selling 40,522 shares during the period. Allspring Global Investments Holdings LLC’s holdings in WEX were worth $61,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Janus Henderson Group PLC lifted its stake in WEX by 0.6% in the third quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after buying an additional 25,365 shares during the last quarter. FMR LLC increased its holdings in shares of WEX by 8.8% in the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after acquiring an additional 125,262 shares during the period. State Street Corp raised its position in WEX by 0.3% in the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock valued at $260,265,000 after purchasing an additional 3,882 shares during the last quarter. River Road Asset Management LLC boosted its stake in WEX by 5.0% during the 3rd quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock worth $151,103,000 after purchasing an additional 34,264 shares during the period. Finally, Loomis Sayles & Co. L P increased its stake in WEX by 5.7% in the third quarter. Loomis Sayles & Co. L P now owns 308,065 shares of the business services provider’s stock valued at $64,611,000 after purchasing an additional 16,739 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WEX shares. Citigroup lowered WEX from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Wells Fargo & Company dropped their target price on WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Bank of America lowered shares of WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Jefferies Financial Group raised 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, William Blair restated a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. 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, the stock presently has an average rating of “Hold” and a consensus price target of $199.73.

WEX Stock Performance

Shares of WEX opened at $157.73 on Thursday. WEX Inc. has a 12-month low of $146.03 and a 12-month high of $244.04. The stock has a market cap of $6.12 billion, a P/E ratio of 21.03, a PEG ratio of 2.06 and a beta of 1.58. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The company has a 50-day moving average of $170.96 and a two-hundred day moving average of $183.75.

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

Insider Activity at WEX

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

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.