WEX Inc. (NYSE:WEX) Shares Acquired by LPL Financial LLC

LPL Financial LLC increased its stake in WEX Inc. (NYSE:WEX - Free Report) by 13.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,408 shares of the business services provider's stock after purchasing an additional 3,439 shares during the quarter. LPL Financial LLC owned 0.07% of WEX worth $5,283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WEX. State Street Corp increased its position in shares of WEX by 0.3% in the third quarter. State Street Corp now owns 1,240,953 shares of the business services provider's stock valued at $260,265,000 after buying an additional 3,882 shares in the last quarter. River Road Asset Management LLC grew its stake in WEX by 0.7% in the 4th quarter. River Road Asset Management LLC now owns 725,842 shares of the business services provider's stock valued at $127,255,000 after acquiring an additional 5,377 shares during the last quarter. Sei Investments Co. increased its holdings in WEX by 5.2% during the 4th quarter. Sei Investments Co. now owns 481,490 shares of the business services provider's stock valued at $84,415,000 after acquiring an additional 23,859 shares in the last quarter. Bank of New York Mellon Corp raised its position in WEX by 8.8% during the fourth quarter. Bank of New York Mellon Corp now owns 374,359 shares of the business services provider's stock worth $65,633,000 after acquiring an additional 30,395 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of WEX by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,682 shares of the business services provider's stock valued at $55,521,000 after purchasing an additional 2,244 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have recently weighed in on WEX shares. UBS Group dropped their price objective on shares of WEX from $200.00 to $172.00 and set a "neutral" rating for the company in a research note on Friday, February 7th. Bank of America cut WEX from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. Mizuho cut their price objective on shares of WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Robert W. Baird set a $186.00 target price on shares of WEX in a report on Tuesday, February 18th. Finally, Citigroup downgraded shares of WEX from a "buy" rating to a "neutral" rating and cut their price target for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $187.80.

WEX Stock Up 1.3 %

Shares of NYSE:WEX traded up $1.63 during midday trading on Friday, hitting $126.00. 805,148 shares of the company's stock traded hands, compared to its average volume of 540,723. The firm's fifty day moving average price is $150.56 and its two-hundred day moving average price is $173.52. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. WEX Inc. has a twelve month low of $110.45 and a twelve month high of $239.30. The company has a market cap of $4.31 billion, a PE ratio of 16.80, a P/E/G ratio of 2.06 and a beta of 1.33.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. On average, equities research analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal 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.