70,978 Shares in WEX Inc. (NYSE:WEX) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in WEX Inc. (NYSE:WEX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 70,978 shares of the business services provider's stock, valued at approximately $12,444,000. Raymond James Financial Inc. owned approximately 0.18% of WEX as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in WEX. FMR LLC boosted its stake in shares of WEX by 8.8% in 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. Hotchkis & Wiley Capital Management LLC lifted its position in WEX by 82.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 175,690 shares of the business services provider's stock worth $36,847,000 after buying an additional 79,252 shares in the last quarter. Fisher Asset Management LLC lifted its position in WEX by 168.8% during the 4th quarter. Fisher Asset Management LLC now owns 82,896 shares of the business services provider's stock worth $14,533,000 after buying an additional 52,056 shares in the last quarter. Natixis Advisors LLC lifted its position in WEX by 300.4% during the 3rd quarter. Natixis Advisors LLC now owns 68,539 shares of the business services provider's stock worth $14,375,000 after buying an additional 51,423 shares in the last quarter. Finally, Premier Fund Managers Ltd lifted its position in WEX by 18.1% during the 3rd quarter. Premier Fund Managers Ltd now owns 300,000 shares of the business services provider's stock worth $62,750,000 after buying an additional 46,000 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.

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WEX Trading Up 0.5 %

Shares of WEX stock traded up $0.77 on Friday, reaching $157.11. The company had a trading volume of 2,778,600 shares, compared to its average volume of 436,932. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The stock has a market cap of $6.10 billion, a PE ratio of 20.95, a PEG ratio of 2.06 and a beta of 1.61. The company has a 50-day moving average of $164.79 and a 200-day moving average of $180.43. WEX Inc. has a 12 month low of $146.03 and a 12 month high of $244.04.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS 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 analysts forecast that WEX Inc. will post 14.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WEX has been the topic of several research reports. William Blair reiterated a "market perform" rating on shares of WEX in a research report on Thursday, February 6th. Jefferies Financial Group upped their price target on shares of WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a research report on Wednesday, January 22nd. Mizuho reduced their price target on shares of WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. UBS Group reduced their price target on shares of WEX from $200.00 to $172.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. Finally, Citigroup cut WEX from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, WEX currently has an average rating of "Hold" and an average price target of $195.73.

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.