OVERSEA CHINESE BANKING Corp Ltd Sells 4,322 Shares of WEX Inc. (NYSE:WEX)

OVERSEA CHINESE BANKING Corp Ltd lessened its position in WEX Inc. (NYSE:WEX) by 12.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,448 shares of the business services provider’s stock after selling 4,322 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned about 0.08% of WEX worth $5,338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Commerce Bank lifted its stake in shares of WEX by 1.7% in the third quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock worth $760,000 after buying an additional 60 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of WEX by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock worth $225,000 after buying an additional 65 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of WEX by 25.3% in the fourth 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. lifted its stake in shares of WEX by 1.4% in the fourth quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock worth $853,000 after buying an additional 68 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its position in WEX by 0.6% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock valued at $1,959,000 after purchasing an additional 70 shares during the period. Institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

Shares of NYSE WEX opened at $155.49 on Wednesday. The firm has a fifty day moving average price of $165.84 and a 200-day moving average price of $181.08. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The stock has a market cap of $6.04 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. WEX Inc. has a 1 year low of $146.03 and a 1 year high of $244.04.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) 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%. Equities analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WEX has been the topic of a number of research analyst reports. Bank of America downgraded shares of WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. William Blair restated a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Barclays lowered their price objective on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Jefferies Financial Group increased their price objective on shares of WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company lowered their price objective on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research 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. Based on data from MarketBeat.com, the company currently has an average 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.