Cambiar Investors LLC Reduces Stake in WEX Inc. (NYSE:WEX)

Cambiar Investors LLC lowered its stake in WEX Inc. (NYSE:WEX) by 12.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,206 shares of the business services provider’s stock after selling 7,823 shares during the period. Cambiar Investors LLC’s holdings in WEX were worth $10,029,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WEX. Savant Capital LLC bought a new stake in WEX in the fourth quarter worth about $1,167,000. Entropy Technologies LP bought a new stake in WEX in the fourth quarter worth about $614,000. Choreo LLC lifted its stake in WEX by 33.7% in the fourth quarter. Choreo LLC now owns 2,373 shares of the business services provider’s stock worth $405,000 after purchasing an additional 598 shares during the last quarter. Level Wealth Management LLC bought a new stake in WEX in the fourth quarter worth about $219,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in WEX by 0.6% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock worth $1,959,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Insider Buying and Selling

In related news, COO Robert Joseph Deshaies sold 175 shares of the 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WEX. UBS Group decreased their price target on shares of WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a research note on Friday. Bank of America downgraded shares of WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Barclays decreased their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Robert W. Baird decreased their price target on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $199.73.

WEX Stock Up 1.4 %

Shares of NYSE WEX opened at $154.20 on Tuesday. WEX Inc. has a 12-month low of $146.03 and a 12-month high of $244.04. The stock has a market cap of $6.13 billion, a PE ratio of 20.56, a P/E/G ratio of 1.24 and a beta of 1.58. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The company has a 50-day moving average of $176.89 and a 200 day moving average of $185.69.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate 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 14.27 EPS for the current fiscal year.

WEX 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.