WEX Inc. (NYSE:WEX) Shares Purchased by Covestor Ltd

Covestor Ltd raised its holdings in shares of WEX Inc. (NYSE:WEX) by 47.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 277 shares of the business services provider’s stock after purchasing an additional 89 shares during the quarter. Covestor Ltd’s holdings in WEX were worth $58,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WEX. American Century Companies Inc. grew its position in shares of WEX by 0.7% in the 2nd quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock worth $1,847,000 after acquiring an additional 68 shares in the last quarter. Ballentine Partners LLC grew its position in shares of WEX by 3.3% in the 2nd quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock worth $396,000 after acquiring an additional 72 shares in the last quarter. GAMMA Investing LLC grew its position in shares of WEX by 40.7% in the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after acquiring an additional 87 shares in the last quarter. Long Road Investment Counsel LLC grew its position in shares of WEX by 0.4% in the 2nd quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider’s stock worth $4,729,000 after acquiring an additional 100 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of WEX by 8.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,292 shares of the business services provider’s stock worth $229,000 after acquiring an additional 102 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

WEX has been the subject of several research reports. Wolfe Research lowered WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Robert W. Baird decreased their target price on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. William Blair upgraded WEX to a “strong-buy” rating in a research report on Friday, July 26th. Bank of America boosted their price objective on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group boosted their price objective on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

WEX Stock Up 0.5 %

Shares of WEX stock opened at $180.91 on Friday. The business’s fifty day moving average price is $197.48 and its two-hundred day moving average price is $189.43. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $7.20 billion, a P/E ratio of 22.96, a PEG ratio of 1.42 and a beta of 1.57. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04.

WEX (NYSE:WEX) last announced its earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.53. The firm had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.44 EPS. As a group, research analysts forecast that WEX Inc. will post 13.2 EPS for the current year.

Insider Transactions at WEX

In other news, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. The trade was a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value of $299,937.17. Following the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. This trade represents a 17.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

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.