Primecap Management Co. CA Acquires 23,690 Shares of WEX Inc. (NYSE:WEX)

Primecap Management Co. CA increased its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,280 shares of the business services provider's stock after buying an additional 23,690 shares during the quarter. Primecap Management Co. CA owned about 0.79% of WEX worth $55,275,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in WEX during the third quarter worth approximately $35,000. Jones Financial Companies Lllp boosted its holdings in shares of WEX by 108.4% in the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock valued at $43,000 after purchasing an additional 129 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of WEX by 552.5% in the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock valued at $46,000 after purchasing an additional 221 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of WEX by 25.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock valued at $56,000 after purchasing an additional 66 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of WEX in the 3rd quarter valued at $59,000. Institutional investors and hedge funds own 97.47% of the company's stock.

WEX Trading Up 0.5 %

NYSE:WEX traded up $0.77 during trading hours on Friday, hitting $157.11. 2,778,600 shares of the company were exchanged, compared to its average volume of 435,713. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. 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 Inc. has a one year low of $146.03 and a one year high of $244.04. The company has a fifty day simple moving average of $164.79 and a 200 day simple moving average of $180.49.

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WEX (NYSE:WEX - Get Free Report) last announced its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. Sell-side analysts expect that WEX Inc. will post 14.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WEX. Bank of America downgraded WEX from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. Mizuho reduced their target price on 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 WEX in a report on Tuesday, February 18th. Barclays reduced their target price on WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. Finally, Wells Fargo & Company dropped their price target on WEX from $180.00 to $160.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $195.73.

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.