Fmr LLC Raises Position in WEX Inc. (NYSE:WEX)

FMR LLC boosted its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,555,507 shares of the business services provider's stock after purchasing an additional 125,262 shares during the quarter. FMR LLC owned about 3.91% of WEX worth $326,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its holdings in WEX by 856.0% in the first quarter. Cetera Investment Advisers now owns 13,289 shares of the business services provider's stock worth $3,157,000 after purchasing an additional 11,899 shares during the last quarter. Cetera Advisors LLC purchased a new position in WEX during the 1st quarter worth $327,000. Trust Co. of Vermont acquired a new position in WEX during the 2nd quarter valued at about $94,000. Harbor Capital Advisors Inc. raised its stake in WEX by 256.6% in the second quarter. Harbor Capital Advisors Inc. now owns 11,765 shares of the business services provider's stock valued at $2,084,000 after buying an additional 8,466 shares during the last quarter. Finally, CWM LLC boosted its holdings in WEX by 37.3% in the second quarter. CWM LLC now owns 453 shares of the business services provider's stock worth $80,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

Insider Buying and Selling at WEX

In other news, CFO Jagtar Narula sold 508 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. The trade was a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WEX shares. Jefferies Financial Group upped their price objective on shares of WEX from $190.00 to $210.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Wells Fargo & Company decreased their price target on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on shares of WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a research note on Tuesday, August 20th. Bank of America upped their target price on WEX from $238.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Finally, Wolfe Research cut WEX from an "outperform" rating to a "peer perform" rating in a research report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, WEX presently has an average rating of "Moderate Buy" and a consensus price target of $235.91.

WEX Stock Performance

WEX stock traded down $1.14 during midday trading on Friday, hitting $188.66. 170,438 shares of the company were exchanged, compared to its average volume of 378,049. The business has a fifty day simple moving average of $194.50 and a two-hundred day simple moving average of $187.20. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $7.50 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.49 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.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping 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 business had revenue of $665.50 million for the quarter, compared to analysts' expectations of $688.03 million. During the same quarter last year, the company earned $3.44 EPS. The business's revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts forecast that WEX Inc. will post 13.1 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.