WEX Inc. (NYSE:WEX) Position Lifted by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. raised its stake in shares of WEX Inc. (NYSE:WEX) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,002 shares of the business services provider’s stock after acquiring an additional 157 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in WEX were worth $351,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in WEX during the 3rd quarter valued at $35,000. Jones Financial Companies Lllp boosted its stake in WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 129 shares during the last quarter. UMB Bank n.a. boosted its stake in WEX by 552.5% during the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 221 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 66 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in WEX during the 3rd quarter valued at $59,000. 97.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on WEX shares. Bank of America downgraded shares of WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Barclays dropped their target price on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. UBS Group dropped their target price on shares of WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Wells Fargo & Company dropped their target price on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $195.73.

WEX Stock Up 2.8 %

WEX stock opened at $158.44 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. WEX Inc. has a fifty-two week low of $146.03 and a fifty-two week high of $244.04. The firm’s 50-day simple moving average is $166.28 and its 200 day simple moving average is $181.33. The stock has a market cap of $6.15 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last released its quarterly earnings data 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 net margin of 11.78% and a return on equity of 32.35%. As a group, sell-side analysts predict that WEX Inc. will post 14.09 EPS for the current year.

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.