WEX Inc. (NYSE:WEX) Stock Position Cut by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. decreased its stake in shares of WEX Inc. (NYSE:WEX) by 25.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,508 shares of the business services provider’s stock after selling 6,361 shares during the period. Harbor Capital Advisors Inc.’s holdings in WEX were worth $3,245,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC increased its stake in shares of WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 101 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of WEX during the 3rd quarter valued at $35,000. Quarry LP raised its stake in shares of WEX by 717.4% in the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after buying an additional 165 shares in the last quarter. Covestor Ltd lifted its holdings in shares of WEX by 47.3% in the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after buying an additional 89 shares during the period. Finally, Brooklyn Investment Group bought a new position in WEX during the third quarter valued at about $59,000. 97.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Robert Joseph Deshaies sold 175 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $189.44, for a total transaction of $33,152.00. Following the transaction, the chief operating officer now owns 7,582 shares of the company’s stock, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WEX shares. Jefferies Financial Group increased their target price on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Bank of America raised their price objective on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. 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. Wells Fargo & Company decreased their price target on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Finally, Barclays restated an “equal weight” rating and set a $200.00 price objective (down previously from $207.00) on shares of WEX in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, WEX presently has an average rating of “Moderate Buy” and a consensus price target of $227.73.

WEX Stock Down 2.5 %

WEX stock opened at $170.52 on Friday. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $6.78 billion, a PE ratio of 21.64, a P/E/G ratio of 1.39 and a beta of 1.58. The firm’s 50 day moving average price is $178.84 and its two-hundred day moving average price is $185.89.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. During the same period in the prior year, the business posted $3.44 earnings per share. WEX’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts predict that WEX Inc. will post 13.1 EPS for the current fiscal year.

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.