Factorial Partners LLC Makes New $2.24 Million Investment in WEX Inc. (NYSE:WEX)

Factorial Partners LLC bought a new stake in WEX Inc. (NYSE:WEX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,700 shares of the business services provider's stock, valued at approximately $2,244,000.

A number of other institutional investors have also bought and sold shares of the company. Venturi Wealth Management LLC raised its holdings in shares of WEX by 206.1% during the third 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 during the last quarter. International Assets Investment Management LLC purchased a new position in shares of WEX during the 2nd quarter valued at approximately $33,000. Quarry LP boosted its stake in WEX by 717.4% during the 2nd quarter. Quarry LP now owns 188 shares of the business services provider's stock worth $33,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. raised its holdings in WEX by 456.1% in the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider's stock valued at $40,000 after buying an additional 187 shares during the period. Finally, Covestor Ltd grew its position in shares of WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider's stock worth $44,000 after buying an additional 131 shares in the last quarter. Institutional investors own 97.47% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Robert W. Baird lowered their price target on WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on WEX from $210.00 to $200.00 and set a "neutral" rating on the stock in a report on Tuesday, August 20th. Wells Fargo & Company dropped their price target on WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a research note on Friday, October 25th. Jefferies Financial Group upped their price objective on WEX from $190.00 to $210.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Finally, Wolfe Research lowered shares of WEX from an "outperform" rating to a "peer perform" rating in a report on Monday, October 28th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $235.91.

Insider Transactions at WEX

In related news, CFO Jagtar Narula sold 508 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company's stock.

WEX Trading Up 1.1 %

NYSE:WEX traded up $1.94 during mid-day trading on Wednesday, reaching $180.32. 507,423 shares of the company's stock traded hands, compared to its average volume of 360,953. WEX Inc. has a 12-month low of $165.51 and a 12-month high of $244.04. The company has a 50 day moving average price of $196.74 and a 200-day moving average price of $188.39. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 1.40 and a beta of 1.57.

WEX (NYSE:WEX - Get Free Report) last posted its earnings results 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. WEX had a net margin of 12.45% and a return on equity of 31.35%. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. During the same period in the previous year, the firm posted $3.44 earnings per share. The firm's quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts predict that WEX Inc. will post 13.2 earnings per share for the current year.

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.