Russell Investments Group Ltd. Purchases 4,192 Shares of WEX Inc. (NYSE:WEX)

Russell Investments Group Ltd. raised its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 172.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,623 shares of the business services provider's stock after buying an additional 4,192 shares during the period. Russell Investments Group Ltd.'s holdings in WEX were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of WEX. Barclays PLC increased its holdings in WEX by 38.4% during the 3rd quarter. Barclays PLC now owns 21,535 shares of the business services provider's stock valued at $4,516,000 after purchasing an additional 5,972 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of WEX by 112.4% during the third quarter. Sanctuary Advisors LLC now owns 4,760 shares of the business services provider's stock worth $998,000 after purchasing an additional 2,519 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of WEX in the third quarter valued at $2,507,000. Wilmington Savings Fund Society FSB bought a new position in shares of WEX in the third quarter valued at about $35,000. Finally, Fifth Third Wealth Advisors LLC lifted its position in WEX by 265.1% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,280 shares of the business services provider's stock worth $926,000 after buying an additional 3,834 shares in the last quarter. Institutional investors own 97.47% of the company's stock.

WEX Trading Up 2.0 %

WEX stock traded up $2.47 during midday trading on Wednesday, hitting $126.49. 548,748 shares of the stock were exchanged, compared to its average volume of 549,243. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $235.20. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $4.33 billion, a PE ratio of 16.87, a P/E/G ratio of 2.06 and a beta of 1.33. The company has a fifty day simple moving average of $145.81 and a two-hundred day simple moving average of $169.67.

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

Analysts Set New Price Targets

WEX has been the subject of several research reports. Mizuho lowered their price objective on shares of WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. Barclays dropped their price objective 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. Bank of America lowered WEX from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. Citigroup lowered WEX from a "buy" rating to a "neutral" rating and cut their price target for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. Finally, William Blair reiterated a "market perform" rating on shares of WEX in a research report on Thursday, February 6th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $187.80.

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.