WEX Inc. (NYSE:WEX) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its holdings in WEX Inc. (NYSE:WEX - Free Report) by 25.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,840 shares of the business services provider's stock after purchasing an additional 6,167 shares during the period. Fisher Asset Management LLC owned about 0.08% of WEX worth $6,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WEX. Cetera Investment Advisers lifted its holdings in WEX by 856.0% during the first quarter. Cetera Investment Advisers now owns 13,289 shares of the business services provider's stock valued at $3,157,000 after purchasing an additional 11,899 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of WEX during the first quarter valued at approximately $327,000. HM Payson & Co. lifted its position in shares of WEX by 4.8% in the first quarter. HM Payson & Co. now owns 169,230 shares of the business services provider's stock valued at $40,197,000 after acquiring an additional 7,733 shares in the last quarter. Trust Co. of Vermont acquired a new stake in shares of WEX in the second quarter worth approximately $94,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of WEX by 256.6% during the second quarter. Harbor Capital Advisors Inc. now owns 11,765 shares of the business services provider's stock worth $2,084,000 after purchasing an additional 8,466 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Jagtar Narula sold 508 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

WEX Trading Down 0.6 %

Shares of NYSE:WEX traded down $1.14 during midday trading on Friday, reaching $188.66. 170,437 shares of the company's stock were exchanged, compared to its average volume of 359,484. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 1.50 and a beta of 1.57. WEX Inc. has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The firm's 50 day simple moving average is $194.86 and its two-hundred day simple moving average is $187.55. 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 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. The business had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business's revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.44 EPS. As a group, sell-side analysts forecast that WEX Inc. will post 13.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America lifted their target price on shares of WEX from $238.00 to $255.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Jefferies Financial Group boosted their price target on shares of WEX from $190.00 to $210.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Robert W. Baird cut their price objective on shares of WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Wells Fargo & Company lowered their target price on WEX from $200.00 to $180.00 and set an "equal weight" rating on the stock in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price target on WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a report on Tuesday, August 20th. 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. According to data from MarketBeat, WEX currently has an average rating of "Moderate Buy" and an average target price 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.