Eagle Rock Investment Company LLC Makes New Investment in WEX Inc. (NYSE:WEX)

Eagle Rock Investment Company LLC purchased a new position in shares of WEX Inc. (NYSE:WEX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,234 shares of the business services provider's stock, valued at approximately $918,000.

A number of other large investors have also modified their holdings of the company. Commerce Bank raised its holdings in WEX by 1.7% during the third quarter. Commerce Bank now owns 3,624 shares of the business services provider's stock worth $760,000 after purchasing an additional 60 shares in the last quarter. American Century Companies Inc. increased its position in shares of WEX by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider's stock valued at $1,847,000 after purchasing an additional 68 shares during the period. GAMMA Investing LLC raised its stake 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 buying an additional 87 shares in the last quarter. Covestor Ltd boosted its stake in WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider's stock valued at $58,000 after buying an additional 89 shares in the last quarter. Finally, Long Road Investment Counsel LLC grew its holdings in WEX by 0.4% during the second 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 during the period. Institutional investors and hedge funds own 97.47% of the company's stock.

WEX Stock Up 0.4 %

NYSE:WEX traded up $0.68 on Friday, hitting $184.40. 304,658 shares of the company's stock traded hands, compared to its average volume of 392,542. The company has a market cap of $7.34 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.23 and a beta of 1.58. WEX Inc. has a 1 year low of $165.51 and a 1 year 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 firm has a 50-day moving average price of $178.78 and a 200-day moving average price of $186.02.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data 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 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 in the previous year, the firm posted $3.44 earnings per share. The firm's revenue was up 2.2% on a year-over-year basis. Equities analysts anticipate that WEX Inc. will post 13.09 EPS for the current fiscal year.

Analyst Ratings Changes

WEX has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price target on shares of WEX from $190.00 to $210.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Wells Fargo & Company reduced their target price on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a report on Friday, October 25th. Robert W. Baird dropped their price target on WEX from $285.00 to $230.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Bank of America increased 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, Citigroup cut WEX from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $260.00 to $190.00 in a report on Tuesday. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $219.55.

Insider Transactions at WEX

In other news, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction 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. The trade was a 2.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

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.