Edgestream Partners L.P. Takes Position in WEX Inc. (NYSE:WEX)

Edgestream Partners L.P. purchased a new stake in WEX Inc. (NYSE:WEX - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,464 shares of the business services provider's stock, valued at approximately $727,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in WEX. Verition Fund Management LLC increased its holdings in WEX by 474.4% in the 3rd quarter. Verition Fund Management LLC now owns 14,089 shares of the business services provider's stock worth $2,955,000 after purchasing an additional 11,636 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of WEX by 191.9% in the third quarter. Captrust Financial Advisors now owns 3,485 shares of the business services provider's stock valued at $731,000 after buying an additional 2,291 shares during the period. Isthmus Partners LLC acquired a new position in shares of WEX in the third quarter valued at approximately $373,000. PEAK6 Investments LLC bought a new position in WEX in the 3rd quarter valued at approximately $4,157,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in WEX by 17.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,437 shares of the business services provider's stock worth $36,585,000 after buying an additional 26,395 shares during the period. 97.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 508 shares of the firm's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 6.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the transaction, the chief operating officer now directly owns 7,582 shares in the company, valued at $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

WEX Stock Up 0.8 %

Shares of WEX traded up $1.46 during trading hours on Friday, hitting $184.16. The stock had a trading volume of 100,295 shares, compared to its average volume of 357,343. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04. The firm has a market capitalization of $7.33 billion, a P/E ratio of 23.43, a price-to-earnings-growth ratio of 1.46 and a beta of 1.57. The firm has a 50 day simple moving average of $192.77 and a 200-day simple moving average of $186.96. 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 released its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. During the same quarter in the previous year, the company posted $3.44 earnings per share. The company's quarterly revenue was up 2.2% on a year-over-year basis. Sell-side analysts predict that WEX Inc. will post 13.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on WEX. Jefferies Financial Group raised their price target on shares of WEX from $190.00 to $210.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Wolfe Research lowered WEX from an "outperform" rating to a "peer perform" rating in a research report on Monday, October 28th. Robert W. Baird decreased their price target on WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on WEX from $210.00 to $200.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 20th. Finally, Bank of America raised their price target on shares of WEX from $238.00 to $255.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $235.91.

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.