Ameriprise Financial Inc. Has $46.70 Million Stock Position in WEX Inc. (NYSE:WEX)

Ameriprise Financial Inc. decreased its position in WEX Inc. (NYSE:WEX) by 20.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 266,344 shares of the business services provider’s stock after selling 67,951 shares during the period. Ameriprise Financial Inc. owned approximately 0.67% of WEX worth $46,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WEX. Barclays PLC boosted its stake in WEX by 38.4% in the 3rd quarter. Barclays PLC now owns 21,535 shares of the business services provider’s stock worth $4,516,000 after purchasing an additional 5,972 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in WEX in the 3rd quarter worth $35,000. Fifth Third Wealth Advisors LLC boosted its stake in WEX by 265.1% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,280 shares of the business services provider’s stock worth $926,000 after purchasing an additional 3,834 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of WEX during the 4th quarter worth about $1,168,000. Finally, Radnor Capital Management LLC acquired a new position in shares of WEX during the 4th quarter worth about $331,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analyst Upgrades and Downgrades

WEX has been the subject of a number of recent research reports. Robert W. Baird set a $186.00 price objective on shares of WEX in a research note on Tuesday, February 18th. UBS Group reduced their price objective on shares of WEX from $172.00 to $138.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Keefe, Bruyette & Woods reduced their price objective on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Jefferies Financial Group increased their price objective on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Finally, Mizuho reduced their price objective on shares of WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $182.40.

WEX Stock Up 0.4%

Shares of WEX stock opened at $127.17 on Monday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The firm’s 50-day moving average is $138.41 and its 200-day moving average is $161.78. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 2.06 and a beta of 1.26. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $217.47.

WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.11. WEX had a net margin of 11.78% and a return on equity of 32.35%. The firm had revenue of $636.60 million for the quarter, compared to analysts’ expectations of $631.42 million. During the same period in the prior year, the firm earned $3.46 EPS. The business’s revenue was down 2.5% on a year-over-year basis. Sell-side analysts predict that WEX Inc. will post 14.09 EPS for the current 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.