Cambiar Investors LLC Has $10.03 Million Stock Position in WEX Inc. (NYSE:WEX)

Cambiar Investors LLC lowered its holdings in shares of WEX Inc. (NYSE:WEX) by 12.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,206 shares of the business services provider’s stock after selling 7,823 shares during the period. Cambiar Investors LLC owned about 0.14% of WEX worth $10,029,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Venturi Wealth Management LLC increased its holdings in WEX by 206.1% in 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 3rd quarter worth about $35,000. UMB Bank n.a. increased its holdings in WEX by 552.5% in the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after purchasing an additional 221 shares in the last quarter. Covestor Ltd increased its holdings in WEX by 47.3% in the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after purchasing an additional 89 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in WEX in the 3rd quarter worth about $59,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on WEX. William Blair reiterated a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. UBS Group cut their target price on WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research report on Friday. Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Robert W. Baird cut their target price on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Citigroup lowered WEX from a “buy” rating to a “neutral” rating and cut their target price for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $199.73.

WEX Stock Performance

Shares of WEX opened at $154.20 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The business’s 50 day moving average price is $176.89 and its 200-day moving average price is $185.69. WEX Inc. has a 52 week low of $146.03 and a 52 week high of $244.04. The stock has a market cap of $6.13 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.24 and a beta of 1.58.

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

Insider Transactions at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction on 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 owns 7,582 shares in the company, valued at approximately $1,436,334.08. This represents a 2.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by company 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.