Amundi Acquires 12,637 Shares of WEX Inc. (NYSE:WEX)

Amundi lifted its holdings in shares of WEX Inc. (NYSE:WEX) by 493.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,200 shares of the business services provider’s stock after purchasing an additional 12,637 shares during the quarter. Amundi’s holdings in WEX were worth $2,657,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Inceptionr LLC bought a new position in shares of WEX during the fourth quarter worth approximately $455,000. Raymond James Financial Inc. bought a new position in shares of WEX during the fourth quarter worth approximately $12,444,000. Verdence Capital Advisors LLC increased its holdings in shares of WEX by 1.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 20,531 shares of the business services provider’s stock worth $3,599,000 after purchasing an additional 334 shares during the period. Proficio Capital Partners LLC bought a new position in shares of WEX during the fourth quarter worth approximately $7,807,000. Finally, Cornerstone Investment Partners LLC increased its holdings in shares of WEX by 3.3% during the fourth quarter. Cornerstone Investment Partners LLC now owns 4,572 shares of the business services provider’s stock worth $802,000 after purchasing an additional 144 shares during the period. 97.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WEX has been the topic of a number of recent analyst reports. UBS Group decreased their price objective on shares of WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Bank of America cut shares of WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Citigroup cut shares of WEX from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods decreased their price objective on shares of WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, Robert W. Baird set a $186.00 price objective on shares of WEX in a research note on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $195.73.

WEX Stock Performance

Shares of WEX stock opened at $154.47 on Monday. The firm has a market capitalization of $6.00 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.06 and a beta of 1.61. The company’s 50 day moving average price is $166.67 and its two-hundred day moving average price is $181.56. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. WEX Inc. has a fifty-two week low of $146.03 and a fifty-two week high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. On average, equities analysts forecast that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

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.