JPMorgan Chase & Co. grew its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 105.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,046,614 shares of the business services provider's stock after purchasing an additional 1,052,087 shares during the quarter. JPMorgan Chase & Co. owned approximately 5.14% of WEX worth $358,812,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc lifted its stake in shares of WEX by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider's stock worth $225,000 after acquiring an additional 65 shares during the period. Smartleaf Asset Management LLC raised its holdings in WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after purchasing an additional 66 shares in the last quarter. Xponance Inc. lifted its position in WEX by 1.4% in the fourth quarter. Xponance Inc. now owns 4,864 shares of the business services provider's stock valued at $853,000 after purchasing an additional 68 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in WEX by 0.6% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider's stock valued at $1,959,000 after purchasing an additional 70 shares in the last quarter. Finally, Truvestments Capital LLC increased its position in WEX by 4.9% during the 4th quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider's stock worth $296,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 97.47% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on WEX shares. Bank of America downgraded WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Robert W. Baird set a $186.00 price target on shares of WEX in a report on Tuesday, February 18th. Jefferies Financial Group upped their target price on shares of WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a research report on Wednesday, January 22nd. William Blair reiterated a "market perform" rating on shares of WEX in a research report on Thursday, February 6th. Finally, UBS Group lowered their price target on WEX from $200.00 to $172.00 and set a "neutral" rating on the stock in a report on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $187.80.
Get Our Latest Analysis on WEX
WEX Trading Up 0.7 %
Shares of WEX stock traded up $1.07 during trading hours on Wednesday, reaching $161.99. 1,032,757 shares of the company's stock were exchanged, compared to its average volume of 502,530. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. The company has a fifty day moving average of $161.28 and a 200-day moving average of $178.61. WEX Inc. has a 52-week low of $146.03 and a 52-week high of $244.04. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07.
WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Sell-side analysts forecast that WEX Inc. will post 14.09 EPS for the current fiscal year.
About WEX
(
Free Report)
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.
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