Charles Schwab Investment Management Inc. raised its stake in WEX Inc. (NYSE:WEX - Free Report) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 316,682 shares of the business services provider's stock after buying an additional 2,244 shares during the period. Charles Schwab Investment Management Inc. owned about 0.80% of WEX worth $55,521,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in WEX. Atria Investments Inc grew its position in shares of WEX by 289.0% in the 3rd quarter. Atria Investments Inc now owns 6,528 shares of the business services provider's stock valued at $1,369,000 after buying an additional 4,850 shares during the last quarter. Covestor Ltd boosted its position in shares of WEX by 47.3% during the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider's stock valued at $58,000 after purchasing an additional 89 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of WEX by 21.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,218 shares of the business services provider's stock valued at $675,000 after purchasing an additional 572 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock valued at $31,000 after purchasing an additional 101 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of WEX by 290.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 14,280 shares of the business services provider's stock valued at $2,995,000 after purchasing an additional 10,625 shares in the last quarter. Institutional investors own 97.47% of the company's stock.
WEX Stock Up 2.7 %
Shares of WEX stock traded up $4.10 on Friday, hitting $154.47. The company had a trading volume of 873,625 shares, compared to its average volume of 599,096. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 2.06 and a beta of 1.61. WEX Inc. has a 1 year low of $146.03 and a 1 year high of $244.04. The stock has a 50 day moving average of $166.67 and a 200-day moving average of $181.60. 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 (NYSE:WEX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. As a group, sell-side analysts forecast that WEX Inc. will post 14.09 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on WEX shares. Keefe, Bruyette & Woods cut their target price on WEX from $220.00 to $200.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Barclays cut their target price on WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a research report on Monday, February 10th. Jefferies Financial Group upped their target price on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, January 22nd. William Blair reiterated a "market perform" rating on shares of WEX in a report on Thursday, February 6th. Finally, Robert W. Baird set a $186.00 price target on WEX in a report on Tuesday, February 18th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, WEX presently has a consensus rating of "Hold" and an average price target of $195.73.
Read Our Latest Report on WEX
About WEX
(
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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