WEX Inc. (NYSE:WEX) Stake Raised by Wisconsin Capital Management LLC

Wisconsin Capital Management LLC increased its stake in WEX Inc. (NYSE:WEX) by 15.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,675 shares of the business services provider’s stock after purchasing an additional 4,403 shares during the quarter. WEX accounts for 3.7% of Wisconsin Capital Management LLC’s investment portfolio, making the stock its 8th largest position. Wisconsin Capital Management LLC owned approximately 0.08% of WEX worth $7,063,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in WEX in the second quarter valued at $33,000. Quarry LP grew its position in shares of WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. increased its stake in shares of WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after purchasing an additional 187 shares in the last quarter. Covestor Ltd raised its position in shares of WEX by 233.9% during the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after purchasing an additional 131 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in WEX in the 1st quarter valued at approximately $60,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

Insider Buying and Selling

In other news, CFO Jagtar Narula sold 508 shares of the firm’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 transaction, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert Joseph Deshaies sold 1,651 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 7,757 shares of the company’s stock, valued at $1,409,214.19. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on WEX. Robert W. Baird cut their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company cut their price objective on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. William Blair raised WEX to a “strong-buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. dropped their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Finally, Bank of America boosted their price target on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.91.

WEX Stock Up 0.8 %

Shares of WEX stock opened at $173.51 on Wednesday. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.35 and a beta of 1.57. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The business’s 50 day simple moving average is $198.35 and its 200-day simple moving average is $191.03.

WEX (NYSE:WEX) last issued its quarterly earnings data 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. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. During the same period last year, the firm posted $3.44 EPS. WEX’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts forecast that WEX Inc. will post 13.2 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.