Brandywine Global Investment Management 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 filing with the SEC. The institutional investor purchased 24,442 shares of the business services provider's stock, valued at approximately $4,285,000. Brandywine Global Investment Management LLC owned 0.06% of WEX as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in WEX by 105.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider's stock worth $358,812,000 after purchasing an additional 1,052,087 shares during the period. Norges Bank purchased a new stake in shares of WEX during the 4th quarter valued at approximately $80,535,000. Wealthfront Advisers LLC purchased a new position in WEX in the 4th quarter valued at approximately $28,689,000. Hotchkis & Wiley Capital Management LLC raised its holdings in WEX by 82.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 175,690 shares of the business services provider's stock valued at $36,847,000 after acquiring an additional 79,252 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of WEX in the fourth quarter worth $12,444,000. Hedge funds and other institutional investors own 97.47% of the company's stock.
WEX Price Performance
Shares of WEX traded down $15.73 during midday trading on Friday, reaching $126.88. The stock had a trading volume of 2,078,555 shares, compared to its average volume of 519,383. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. The company's 50-day moving average is $158.97 and its 200 day moving average is $177.40. WEX Inc. has a 12-month low of $124.30 and a 12-month high of $241.84.
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%. On average, equities analysts predict that WEX Inc. will post 14.09 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on WEX shares. Robert W. Baird set a $186.00 price objective on WEX in a report on Tuesday, February 18th. William Blair reissued a "market perform" rating on shares of WEX in a report on Thursday, February 6th. UBS Group cut their price objective on shares of WEX from $200.00 to $172.00 and set a "neutral" rating for the company in a research report on Friday, February 7th. Wells Fargo & Company decreased their target price on shares of WEX from $180.00 to $160.00 and set an "equal weight" rating on the stock in a report on Friday, February 7th. Finally, Barclays cut their price target on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a report on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, WEX has a consensus rating of "Hold" and a consensus target price of $187.80.
Check Out Our Latest Research Report on WEX
WEX Company Profile
(
Free Report)
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.
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