Harbor Capital Advisors Inc. Has $5.22 Million Position in WEX Inc. (NYSE:WEX)

Harbor Capital Advisors Inc. boosted its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 111.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 24,869 shares of the business services provider's stock after purchasing an additional 13,104 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.06% of WEX worth $5,216,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. New York State Common Retirement Fund raised its stake in shares of WEX by 328.6% during the 3rd quarter. New York State Common Retirement Fund now owns 127,570 shares of the business services provider's stock worth $26,755,000 after buying an additional 97,807 shares during the period. Rice Hall James & Associates LLC grew its position in shares of WEX by 672.7% in the third quarter. Rice Hall James & Associates LLC now owns 154,033 shares of the business services provider's stock valued at $32,305,000 after purchasing an additional 134,099 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of WEX in the third quarter valued at about $2,329,000. HM Payson & Co. increased its stake in shares of WEX by 61.3% during the third quarter. HM Payson & Co. now owns 149,341 shares of the business services provider's stock worth $31,321,000 after purchasing an additional 56,775 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in shares of WEX by 10.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,573 shares of the business services provider's stock worth $330,000 after purchasing an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Stock Down 1.0 %

Shares of NYSE WEX traded down $1.74 during trading on Monday, reaching $172.05. 403,048 shares of the stock were exchanged, compared to its average volume of 357,518. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.36 and a beta of 1.57. The business's 50-day moving average price is $198.93 and its 200 day moving average price is $191.84. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.82 by $0.53. The firm had revenue of $665.50 million for the quarter, compared to analysts' expectations of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.44 earnings per share. As a group, equities analysts forecast that WEX Inc. will post 13.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on WEX shares. Keefe, Bruyette & Woods decreased their target price on WEX from $275.00 to $230.00 and set an "outperform" rating on the stock in a research report on Monday, July 8th. Robert W. Baird lowered their target price on shares of WEX from $285.00 to $230.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Bank of America raised their price target 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. JPMorgan Chase & Co. dropped 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. Finally, Wells Fargo & Company decreased their target price on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, WEX presently has an average rating of "Moderate Buy" and an average target price of $235.91.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares of the company's stock, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Robert Joseph Deshaies sold 1,651 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at approximately $1,409,214.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jagtar Narula sold 508 shares of the company's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

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.