WEX Inc. (NYSE:WEX) Shares Sold by Long Road Investment Counsel LLC

Long Road Investment Counsel LLC cut its position in WEX Inc. (NYSE:WEX) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,469 shares of the business services provider’s stock after selling 230 shares during the quarter. WEX makes up 1.9% of Long Road Investment Counsel LLC’s investment portfolio, making the stock its 15th biggest holding. Long Road Investment Counsel LLC’s holdings in WEX were worth $4,641,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Retirement Planning Co of New England Inc. lifted its position in WEX by 8.5% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 2,002 shares of the business services provider’s stock worth $351,000 after acquiring an additional 157 shares during the period. Primecap Management Co. CA lifted its position in WEX by 8.1% during the 4th quarter. Primecap Management Co. CA now owns 315,280 shares of the business services provider’s stock worth $55,275,000 after acquiring an additional 23,690 shares during the period. Aurora Investment Counsel lifted its position in WEX by 5.9% during the 4th quarter. Aurora Investment Counsel now owns 7,046 shares of the business services provider’s stock worth $1,235,000 after acquiring an additional 391 shares during the period. Thompson Siegel & Walmsley LLC lifted its position in WEX by 7.6% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 59,697 shares of the business services provider’s stock worth $10,466,000 after acquiring an additional 4,194 shares during the period. Finally, Truvestments Capital LLC lifted its position in WEX by 4.9% during the 4th quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock worth $296,000 after acquiring an additional 78 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Price Performance

WEX stock opened at $158.44 on Tuesday. WEX Inc. has a 52-week low of $146.03 and a 52-week high of $244.04. The stock’s fifty day simple moving average is $166.28 and its 200-day simple moving average is $181.33. 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 stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last issued 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 return on equity of 32.35% and a net margin of 11.78%. Equities research analysts expect that WEX Inc. will post 14.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WEX shares. Keefe, Bruyette & Woods cut their target price on WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Jefferies Financial Group increased their target price on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Mizuho cut their target price on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Citigroup downgraded WEX from a “buy” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company cut their target price on WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, WEX presently has a consensus rating of “Hold” and an average target price of $195.73.

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.