Martin & Co. Inc. TN Has $2.86 Million Stock Position in WEX Inc. (NYSE:WEX)

Martin & Co. Inc. TN cut its holdings in WEX Inc. (NYSE:WEX) by 3.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,320 shares of the business services provider’s stock after selling 663 shares during the quarter. Martin & Co. Inc. TN’s holdings in WEX were worth $2,861,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WEX. Allspring Global Investments Holdings LLC boosted its position in WEX by 124.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 40,870 shares of the business services provider’s stock worth $8,572,000 after purchasing an additional 22,638 shares during the period. Natixis Advisors LLC raised its stake in WEX by 300.4% during the third quarter. Natixis Advisors LLC now owns 68,539 shares of the business services provider’s stock worth $14,375,000 after acquiring an additional 51,423 shares in the last quarter. Fifth Third Bancorp raised its stake in WEX by 1,635.8% during the fourth quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider’s stock worth $1,540,000 after acquiring an additional 8,277 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in shares of WEX by 672.7% during the third quarter. Rice Hall James & Associates LLC now owns 154,033 shares of the business services provider’s stock worth $32,305,000 after purchasing an additional 134,099 shares during the last quarter. Finally, Atria Investments Inc grew its holdings in shares of WEX by 289.0% during the third quarter. Atria Investments Inc now owns 6,528 shares of the business services provider’s stock worth $1,369,000 after purchasing an additional 4,850 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

Insider Activity

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the firm’s 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 sale, the chief operating officer now directly owns 7,582 shares in the company, valued at $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

WEX Trading Down 0.2 %

Shares of NYSE WEX opened at $154.80 on Monday. WEX Inc. has a twelve month low of $146.03 and a twelve month high of $244.04. The business has a fifty day simple moving average of $174.51 and a two-hundred day simple moving average of $184.86. 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 firm has a market cap of $6.16 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58.

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, beating 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%. Analysts expect that WEX Inc. will post 14.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on WEX shares. Keefe, Bruyette & Woods reduced their target price on WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Robert W. Baird lowered their price target on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. UBS Group lowered their target price on WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Mizuho decreased their price objective on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Finally, Wells Fargo & Company decreased their price objective on WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, WEX presently has an average rating of “Hold” and an average target price of $199.73.

About WEX

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.