Oppenheimer Asset Management Inc. Purchases 10,625 Shares of WEX Inc. (NYSE:WEX)

Oppenheimer Asset Management Inc. increased its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 290.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 14,280 shares of the business services provider's stock after purchasing an additional 10,625 shares during the period. Oppenheimer Asset Management Inc.'s holdings in WEX were worth $2,995,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in WEX by 2.0% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 34,770 shares of the business services provider's stock valued at $7,292,000 after purchasing an additional 678 shares during the period. Venturi Wealth Management LLC boosted its stake in WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock valued at $31,000 after buying an additional 101 shares during the period. Crossmark Global Holdings Inc. grew its position in WEX by 21.6% during the third quarter. Crossmark Global Holdings Inc. now owns 3,218 shares of the business services provider's stock worth $675,000 after buying an additional 572 shares in the last quarter. Covestor Ltd increased its stake in WEX by 47.3% in the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider's stock worth $58,000 after acquiring an additional 89 shares during the last quarter. Finally, Atria Investments Inc raised its holdings in shares of WEX by 289.0% in the 3rd quarter. Atria Investments Inc now owns 6,528 shares of the business services provider's stock valued at $1,369,000 after acquiring an additional 4,850 shares in the last quarter. Institutional investors own 97.47% of the company's stock.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the business's stock in a transaction on 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 directly owns 7,120 shares of the company's stock, valued at approximately $1,424,000. The trade was a 6.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert Joseph Deshaies sold 1,651 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the transaction, the chief operating officer now owns 7,757 shares of the company's stock, valued at $1,409,214.19. This trade represents a 17.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

WEX Trading Down 1.0 %

WEX stock traded down $1.83 during trading on Friday, hitting $179.08. 439,705 shares of the company traded hands, compared to its average volume of 551,805. 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 company has a 50-day moving average of $197.33 and a 200-day moving average of $189.00. The firm has a market capitalization of $7.12 billion, a PE ratio of 22.73, a P/E/G ratio of 1.42 and a beta of 1.57. WEX Inc. has a 1 year low of $165.51 and a 1 year high of $244.04.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on WEX shares. Jefferies Financial Group boosted their price objective on WEX from $190.00 to $210.00 and gave the stock 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 on the stock in a report on Friday, October 25th. William Blair raised shares of WEX to a "strong-buy" rating in a report on Friday, July 26th. Robert W. Baird reduced their target price on WEX from $285.00 to $230.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Finally, Wolfe Research lowered WEX from an "outperform" rating to a "peer perform" rating in a research note on Monday, October 28th. Six investment 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, WEX has an average rating of "Moderate Buy" and a consensus price target of $235.91.

About WEX

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.