California Public Employees Retirement System Sells 4,384 Shares of WEX Inc. (NYSE:WEX)

California Public Employees Retirement System lessened its stake in WEX Inc. (NYSE:WEX) by 5.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,721 shares of the business services provider’s stock after selling 4,384 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of WEX worth $12,749,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings 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 grew its position in shares of WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after buying an additional 66 shares in the last quarter. Xponance Inc. increased its position in WEX by 1.4% during the 4th quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock valued at $853,000 after purchasing an additional 68 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in WEX by 0.6% in 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 buying an additional 70 shares in the last quarter. Finally, Truvestments Capital LLC raised its holdings in WEX by 4.9% in the fourth quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock worth $296,000 after purchasing an additional 78 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Stock Down 11.0 %

WEX opened at $126.88 on Friday. The company has a fifty day moving average of $158.97 and a two-hundred day moving average of $177.57. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.06 and a beta of 1.33. WEX Inc. has a fifty-two week low of $124.30 and a fifty-two week high of $241.84. 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 (NYSE:WEX) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share 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%. On average, research analysts expect that WEX Inc. will post 14.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WEX shares. Keefe, Bruyette & Woods decreased their price target on WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Citigroup downgraded shares of WEX from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. William Blair reissued a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Robert W. Baird set a $186.00 price target on WEX in a research report on Tuesday, February 18th. Finally, Mizuho dropped their price target on WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, WEX has a consensus rating of “Hold” and a consensus price target of $187.80.

WEX Company 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.