Prudential Financial Inc. Sells 713 Shares of WEX Inc. (NYSE:WEX)

Prudential Financial Inc. lessened its position in shares of WEX Inc. (NYSE:WEX) by 19.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,899 shares of the business services provider’s stock after selling 713 shares during the quarter. Prudential Financial Inc.’s holdings in WEX were worth $519,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Fifth Third Bancorp grew its position in WEX by 1,635.8% in the 4th quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider’s stock valued at $1,540,000 after acquiring an additional 8,277 shares during the last quarter. LPL Financial LLC raised its stake in WEX by 13.2% in the fourth quarter. LPL Financial LLC now owns 29,408 shares of the business services provider’s stock valued at $5,283,000 after buying an additional 3,439 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 66 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of WEX by 108.4% in the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after buying an additional 129 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of WEX by 53.7% during the fourth quarter. KBC Group NV now owns 1,825 shares of the business services provider’s stock valued at $320,000 after buying an additional 638 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

WEX stock opened at $133.23 on Thursday. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $241.77. The firm has a 50 day moving average of $152.87 and a two-hundred day moving average of $174.88. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 2.06 and a beta of 1.33. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX) last posted its quarterly earnings data 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 return on equity of 32.35% and a net margin of 11.78%. As a group, equities analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group decreased their price objective on WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Bank of America downgraded shares of WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Barclays decreased their price objective on WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Robert W. Baird set a $186.00 target price on WEX in a report on Tuesday, February 18th. Finally, Mizuho dropped their price objective on shares of WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $187.80.

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.