Pictet Asset Management Holding SA Has $1.05 Million Stake in WEX Inc. (NYSE:WEX)

Pictet Asset Management Holding SA lifted its position in WEX Inc. (NYSE:WEX) by 7.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,008 shares of the business services provider’s stock after buying an additional 393 shares during the quarter. Pictet Asset Management Holding SA’s holdings in WEX were worth $1,053,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in WEX by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock valued at $225,000 after buying an additional 65 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of WEX by 25.3% in the 4th 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. Xponance Inc. lifted its holdings in WEX by 1.4% in the 4th quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock worth $853,000 after purchasing an additional 68 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in WEX by 0.6% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock worth $1,959,000 after purchasing an additional 70 shares during the period. Finally, Truvestments Capital LLC grew its holdings in WEX by 4.9% during the fourth quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Mizuho reduced their price objective on shares of WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Bank of America cut shares of WEX from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Barclays dropped their price objective on WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Jefferies Financial Group increased their target price on WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company dropped their price target on WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $187.80.

WEX Price Performance

Shares of NYSE:WEX opened at $126.88 on Monday. The firm has a market capitalization of $4.92 billion, a PE ratio of 16.92, a PEG ratio of 2.06 and a beta of 1.33. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. WEX Inc. has a 1-year low of $124.30 and a 1-year high of $241.84. The business’s 50 day moving average is $158.97 and its 200-day moving average is $177.40.

WEX (NYSE:WEX) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Sell-side analysts predict that WEX Inc. will post 14.09 earnings per share for the current year.

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.