Arrowstreet Capital Limited Partnership Purchases Shares of 19,654 WEX Inc. (NYSE:WEX)

Arrowstreet Capital Limited Partnership acquired a new position in shares of WEX Inc. (NYSE:WEX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 19,654 shares of the business services provider's stock, valued at approximately $3,446,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of WEX. Wilmington Savings Fund Society FSB bought a new stake in shares of WEX during the 3rd quarter valued at $35,000. Jones Financial Companies Lllp increased its stake in shares of WEX by 108.4% in the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock valued at $43,000 after purchasing an additional 129 shares during the last quarter. UMB Bank n.a. increased its stake in shares of WEX by 552.5% in the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock valued at $46,000 after purchasing an additional 221 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after buying an additional 66 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of WEX by 263.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 491 shares of the business services provider's stock worth $86,000 after buying an additional 356 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.

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Analyst Ratings Changes

WEX has been the subject of several research analyst reports. UBS Group lowered their target price on WEX from $200.00 to $172.00 and set a "neutral" rating for the company in a research note on Friday, February 7th. Barclays dropped their price objective on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. Jefferies Financial Group upped their price target on shares of WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a report on Wednesday, January 22nd. Robert W. Baird set a $186.00 price objective on WEX in a report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods dropped their target price on WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, WEX presently has an average rating of "Hold" and a consensus target price of $187.80.

WEX Trading Up 2.7 %

Shares of NYSE WEX traded up $3.42 during midday trading on Monday, reaching $129.38. The stock had a trading volume of 13,986 shares, compared to its average volume of 538,699. The company's 50 day moving average price is $150.56 and its 200 day moving average price is $173.52. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. WEX Inc. has a twelve month low of $110.45 and a twelve month high of $239.30. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that WEX Inc. will post 14.09 EPS 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.