State of Michigan Retirement System Has $1.64 Million Stock Holdings in WEX Inc. (NYSE:WEX)

State of Michigan Retirement System decreased its holdings in shares of WEX Inc. (NYSE:WEX) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,375 shares of the business services provider’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in WEX were worth $1,644,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC lifted its position in shares of WEX by 263.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 491 shares of the business services provider’s stock worth $86,000 after buying an additional 356 shares during the period. Jones Financial Companies Lllp raised its stake in WEX by 108.4% during the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after acquiring an additional 129 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after acquiring an additional 66 shares in the last quarter. Factorial Partners LLC lifted its holdings in shares of WEX by 6.5% during the fourth quarter. Factorial Partners LLC now owns 11,400 shares of the business services provider’s stock valued at $1,999,000 after acquiring an additional 700 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of WEX by 168.8% in the 4th quarter. Fisher Asset Management LLC now owns 82,896 shares of the business services provider’s stock valued at $14,533,000 after purchasing an additional 52,056 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WEX. William Blair reiterated a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Wells Fargo & Company dropped their price objective on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. UBS Group reduced their target price on WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Robert W. Baird set a $186.00 price target on WEX in a report on Tuesday, February 18th. Finally, Bank of America downgraded WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $195.73.

WEX Trading Up 2.9 %

WEX stock opened at $158.68 on Friday. 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 Inc. has a twelve month low of $146.03 and a twelve month high of $244.04. The company has a market cap of $6.16 billion, a P/E ratio of 21.16, a PEG ratio of 2.06 and a beta of 1.61. The business has a fifty day moving average of $168.83 and a 200-day moving average of $182.68.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping 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 research analysts expect that WEX Inc. will post 14.09 EPS for the current 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.