Loring Wolcott & Coolidge Reduces Stake in WEX Inc.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA has decreased its investment in WEX Inc. (NYSE:WEX) by 2.9% during the fourth quarter of the year, based on the latest filing with the Securities and Exchange Commission (SEC). Following this reduction, the institutional investor now holds 883,495 shares of WEX, having sold 26,494 shares during this period. WEX accounts for around 1.4% of Loring Wolcott & Coolidge's total investment portfolio, making it their 23rd largest holding. As per the recent SEC filing, the current value of WEX shares held by Loring Wolcott & Coolidge is approximately $162.65 million.

In addition to Loring Wolcott & Coolidge, other institutional investors have also made changes to their positions in WEX. For instance, Venturi Wealth Management LLC significantly increased its holdings in WEX by 206.1% in the third quarter, bringing their total to 150 shares worth $31,000 after acquiring an additional 101 shares. Meanwhile, Wilmington Savings Fund Society FSB purchased a new stake in WEX valued at around $35,000 during the same quarter. Other notable movements include UMB Bank n.a., which raised its holding in WEX by 552.5% in the fourth quarter, now owning 261 shares worth $46,000 after buying 221 additional shares. Covestor Ltd also increased its stake by 47.3% in the third quarter, owning 277 shares valued at $58,000 after the last quarter's acquisition. Finally, Brooklyn Investment Group created a new stake valued at about $59,000 in WEX. Overall, approximately 97.47% of WEX shares are held by institutional investors and hedge funds.

WEX Trading Overview

As of Friday, WEX shares opened at $152.00. The company's market capitalization stands at $6.05 billion, with a price-to-earnings ratio of 20.27, and a PEG ratio of 1.24. Over the past year, WEX has reached a low of $146.03 and a high of $244.04. The fifty-day moving average for the stock is $177.60, and the two-hundred-day moving average is $185.77. Financially, WEX has a debt-to-equity ratio of 2.07, a quick ratio of 1.04, and a current ratio of 1.02.

WEX recently reported its quarterly earnings on February 5th, where it announced an earnings per share (EPS) of $3.13, surpassing the consensus estimate of $2.97 by $0.16. The company maintains a net margin of 11.78% and a return on equity of 32.35%. Analysts predict that WEX Inc. will achieve an EPS of 14.27 for the current fiscal year.

Insider Activity at WEX

In related news, WEX's Chief Operating Officer, Robert Joseph Deshaies, sold 175 shares of the company on November 29th at an average price of $189.44, accumulating a total of $33,152. After this sale, Deshaies retains 7,582 shares valued at approximately $1.44 million. This transaction resulted in a slight decrease of 2.26% in Deshaies's overall holdings. This trade was also disclosed through a filing with the SEC, where corporate insiders hold about 1.10% of the company's stock.

Analysts' Ratings and Price Adjustments

Recent analyst ratings for WEX have shown mixed responses. Robert W. Baird has reduced their price target for WEX from $285.00 to $230.00 while maintaining an "outperform" rating. UBS Group also adjusted their target down from $200.00 to $172.00, indicating a "neutral" outlook. Jefferies Financial Group raised their target from $180.00 to $190.00, keeping a "hold" rating. Meanwhile, Barclays reaffirmed an "equal weight" rating, adjusting their target from $207.00 to $200.00. Citigroup has further downgraded WEX from a "buy" rating to "neutral" and lowered their target price from $260.00 to $190.00. Overall, the stock has received a mix of ratings, with eleven analysts suggesting a hold and four recommending a buy. The average consensus price target is set at $210.58.

Company Overview: WEX Inc.

WEX Inc. operates a comprehensive commerce platform both in the United States and abroad. Its Mobility segment focuses on providing solutions for fleet vehicle payments, transaction processing, and information management services. The company also offers a variety of services, including account management, billing inquiries, credit and collections, merchant services, and data analytics solutions.

WEX, Loring, Investments