WEX Inc. (NYSE:WEX) Position Increased by Holocene Advisors LP

Holocene Advisors LP raised its stake in WEX Inc. (NYSE:WEX - Free Report) by 39.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,862 shares of the business services provider's stock after acquiring an additional 11,583 shares during the quarter. Holocene Advisors LP owned approximately 0.10% of WEX worth $8,570,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in WEX. Venturi Wealth Management LLC increased its stake in WEX by 206.1% in 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 acquired a new position in WEX in the second quarter valued at $33,000. Quarry LP increased its stake in WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider's stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. increased its stake in WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider's stock valued at $40,000 after purchasing an additional 187 shares during the last quarter. Finally, Covestor Ltd grew its position in WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider's stock valued at $58,000 after acquiring an additional 89 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WEX has been the subject of a number of research reports. Jefferies Financial Group boosted their price target on WEX from $190.00 to $210.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target on WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a research report on Tuesday, August 20th. 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 research report on Friday, October 25th. Bank of America boosted their price target on WEX from $238.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company decreased their target price on WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a research report on Friday, October 25th. Six investment 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $235.91.

Insiders Place Their Bets

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction that occurred 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 owns 7,582 shares of the company's stock, valued at $1,436,334.08. This trade represents a 2.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jagtar Narula sold 508 shares of the 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 transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

WEX Stock Down 1.2 %

Shares of NYSE:WEX traded down $2.15 during trading on Wednesday, hitting $183.85. The company's stock had a trading volume of 266,055 shares, compared to its average volume of 358,134. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. WEX Inc. has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The stock's 50-day moving average price is $193.23 and its two-hundred day moving average price is $186.99. The company has a market capitalization of $7.31 billion, a PE ratio of 23.33, a PEG ratio of 1.50 and a beta of 1.57.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping 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 business had revenue of $665.50 million for the quarter, compared to analysts' expectations of $688.03 million. During the same quarter in the previous year, the firm posted $3.44 earnings per share. The company's revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that WEX Inc. will post 13.1 EPS for the current year.

WEX 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.