Snyder Capital Management L P Buys 49,484 Shares of WEX Inc. (NYSE:WEX)

Snyder Capital Management L P increased its stake in WEX Inc. (NYSE:WEX - Free Report) by 48.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,625 shares of the business services provider's stock after acquiring an additional 49,484 shares during the period. Snyder Capital Management L P owned approximately 0.38% of WEX worth $26,583,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in WEX by 105.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider's stock valued at $358,812,000 after buying an additional 1,052,087 shares during the last quarter. Norges Bank acquired a new position in WEX during the fourth quarter worth $80,535,000. Wealthfront Advisers LLC acquired a new stake in shares of WEX in the fourth quarter valued at about $28,689,000. Raymond James Financial Inc. acquired a new stake in shares of WEX in the fourth quarter valued at about $12,444,000. Finally, CenterBook Partners LP increased its position in WEX by 379.8% during the fourth quarter. CenterBook Partners LP now owns 72,815 shares of the business services provider's stock worth $12,766,000 after purchasing an additional 57,639 shares during the last quarter. Institutional investors own 97.47% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a research note on Wednesday, January 22nd. Barclays lowered their price objective on WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. Bank of America downgraded shares of WEX from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. William Blair restated a "market perform" rating on shares of WEX in a research report on Thursday, February 6th. Finally, Robert W. Baird set a $186.00 target price on WEX in a report on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, WEX currently has a consensus rating of "Hold" and a consensus target price of $185.80.

WEX Stock Performance

NYSE:WEX traded up $0.56 during mid-day trading on Monday, hitting $130.47. 568,998 shares of the stock were exchanged, compared to its average volume of 550,137. The firm's 50-day simple moving average is $143.67 and its 200 day simple moving average is $167.10. WEX Inc. has a fifty-two week low of $110.45 and a fifty-two week high of $220.32. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating 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%. As a group, equities analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal 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.