Proficio Capital Partners LLC Makes New $7.81 Million Investment in WEX Inc. (NYSE:WEX)

Proficio Capital Partners LLC purchased a new position in shares of WEX Inc. (NYSE:WEX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 44,531 shares of the business services provider's stock, valued at approximately $7,807,000. Proficio Capital Partners LLC owned approximately 0.11% of WEX at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC raised its position in WEX by 0.6% during the third quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider's stock valued at $873,251,000 after acquiring an additional 25,365 shares in the last quarter. FMR LLC raised its holdings in shares of WEX by 8.8% during the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider's stock valued at $326,237,000 after purchasing an additional 125,262 shares in the last quarter. State Street Corp lifted its stake in shares of WEX by 0.3% in the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider's stock valued at $260,265,000 after purchasing an additional 3,882 shares during the last quarter. River Road Asset Management LLC boosted its holdings in WEX by 5.0% in the third quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider's stock worth $151,103,000 after purchasing an additional 34,264 shares in the last quarter. Finally, Bank of New York Mellon Corp increased 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 buying an additional 30,395 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on WEX shares. Wells Fargo & Company lowered their price target on WEX from $180.00 to $160.00 and set an "equal weight" rating on the stock in a report on Friday, February 7th. Mizuho dropped their target price 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. Barclays cut their target price on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research report on Monday, February 10th. Robert W. Baird set a $186.00 price objective on WEX in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group increased their target price on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $195.73.

WEX Stock Performance

Shares of NYSE WEX traded down $0.20 during trading hours on Thursday, reaching $154.29. The stock had a trading volume of 242,743 shares, compared to its average volume of 546,568. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.06 and a beta of 1.58. WEX Inc. has a twelve month low of $146.03 and a twelve month high of $244.04. The business's fifty day moving average is $169.53 and its two-hundred day moving average is $183.04. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. As a group, research analysts expect that WEX Inc. will post 14.09 EPS for the current year.

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.