Atria Investments Inc Buys 4,850 Shares of WEX Inc. (NYSE:WEX)

Atria Investments Inc grew its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 289.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,528 shares of the business services provider's stock after purchasing an additional 4,850 shares during the quarter. Atria Investments Inc's holdings in WEX were worth $1,369,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WEX. International Assets Investment Management LLC bought a new position in WEX in the 2nd quarter worth approximately $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 in the last quarter. Blue Trust Inc. raised 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 valued at $40,000 after purchasing an additional 187 shares during the period. Covestor Ltd lifted its holdings in 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 in the last quarter. Finally, GAMMA Investing LLC boosted its stake in 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 purchasing an additional 87 shares during the period. Hedge funds and other institutional investors own 97.47% of the company's stock.

Wall Street Analyst Weigh In

WEX has been the topic of several analyst reports. William Blair raised shares of WEX to a "strong-buy" rating in a report on Friday, July 26th. Wells Fargo & Company lowered their target price on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Friday, October 25th. Wolfe Research lowered shares of WEX from an "outperform" rating to a "peer perform" rating in a research report on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on WEX from $210.00 to $200.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group boosted their target price on WEX from $190.00 to $210.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, WEX presently has an average rating of "Moderate Buy" and a consensus price target of $235.91.

WEX Stock Down 1.0 %

Shares of WEX opened at $179.08 on Friday. The firm has a market cap of $7.12 billion, a P/E ratio of 22.73, a P/E/G ratio of 1.41 and a beta of 1.57. WEX Inc. has a 1 year low of $165.51 and a 1 year high of $244.04. The stock has a 50 day simple moving average of $197.33 and a two-hundred day simple moving average of $189.00. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.82 by $0.53. The company had revenue of $665.50 million during the quarter, compared to analysts' expectations of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm's revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.44 EPS. On average, analysts forecast that WEX Inc. will post 13.2 earnings per share for the current fiscal year.

Insider Activity

In other 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 value of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents 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 accessible through this hyperlink. Also, COO Robert Joseph Deshaies sold 1,651 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the sale, the chief operating officer now owns 7,757 shares of the company's stock, valued at $1,409,214.19. This represents a 17.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

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.