Axa S.A. Has $2.33 Million Holdings in WEX Inc. (NYSE:WEX)

Axa S.A. trimmed its stake in shares of WEX Inc. (NYSE:WEX) by 37.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,291 shares of the business services provider’s stock after selling 8,121 shares during the period. Axa S.A.’s holdings in WEX were worth $2,330,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc boosted its position in WEX by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock valued at $225,000 after buying an additional 65 shares during the last quarter. Smartleaf Asset Management LLC increased its position in 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 purchasing an additional 66 shares during the period. Xponance Inc. raised its holdings in WEX by 1.4% during the 4th quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock worth $853,000 after purchasing an additional 68 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in WEX by 0.6% during the 4th 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. Finally, Truvestments Capital LLC boosted its stake in shares of WEX by 4.9% in the 4th quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 78 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America lowered shares of WEX from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Robert W. Baird set a $186.00 price target on WEX in a research report on Tuesday, February 18th. Wells Fargo & Company dropped their price objective on WEX from $160.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Citigroup cut WEX from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Finally, UBS Group lowered their price target on WEX from $172.00 to $138.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, WEX currently has a consensus rating of “Hold” and a consensus price target of $182.40.

WEX Trading Up 4.7 %

WEX opened at $126.88 on Friday. The stock has a market capitalization of $4.34 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.06 and a beta of 1.26. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $217.47. The firm’s fifty day simple moving average is $138.97 and its 200 day simple moving average is $162.85.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.11. WEX had a return on equity of 32.35% and a net margin of 11.78%. The company had revenue of $636.60 million during the quarter, compared to analysts’ expectations of $631.42 million. During the same period in the prior year, the firm earned $3.46 earnings per share. WEX’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal 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.