Mendota Financial Group LLC Has $26,000 Stock Holdings in WEX Inc. (NYSE:WEX)

Mendota Financial Group LLC lowered its position in shares of WEX Inc. (NYSE:WEX) by 46.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150 shares of the business services provider’s stock after selling 130 shares during the quarter. Mendota Financial Group LLC’s holdings in WEX were worth $26,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in WEX by 124.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 40,870 shares of the business services provider’s stock valued at $8,572,000 after purchasing an additional 22,638 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of WEX in the second quarter valued at $1,227,000. Natixis Advisors LLC raised its holdings in shares of WEX by 300.4% in the third quarter. Natixis Advisors LLC now owns 68,539 shares of the business services provider’s stock valued at $14,375,000 after buying an additional 51,423 shares during the last quarter. Maven Securities LTD acquired a new position in WEX during the 2nd quarter worth about $2,657,000. Finally, Rice Hall James & Associates LLC lifted its position in WEX by 672.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 154,033 shares of the business services provider’s stock worth $32,305,000 after buying an additional 134,099 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Trading Up 1.3 %

NYSE WEX opened at $177.50 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX Inc. has a 12 month low of $165.51 and a 12 month high of $244.04. The company has a market capitalization of $7.06 billion, a PE ratio of 22.53, a P/E/G ratio of 1.39 and a beta of 1.58. The stock has a 50-day simple moving average of $178.91 and a 200 day simple moving average of $186.01.

WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $688.03 million. During the same period in the prior year, the business posted $3.44 EPS. WEX’s revenue was up 2.2% on a year-over-year basis. Research analysts forecast that WEX Inc. will post 13.1 EPS for the current year.

Insiders Place Their Bets

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the completion of the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WEX shares. Wells Fargo & Company lowered their price objective on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Citigroup lowered shares of WEX from a “buy” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $190.00 in a report on Tuesday. Barclays reaffirmed an “equal weight” rating and set a $200.00 price objective (down previously from $207.00) on shares of WEX in a report on Tuesday, December 17th. Keefe, Bruyette & Woods decreased their price objective on WEX from $247.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, Wolfe Research downgraded WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, WEX has an average rating of “Moderate Buy” and a consensus price target of $219.55.

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.