State Street Corp Purchases 3,882 Shares of WEX Inc. (NYSE:WEX)

State Street Corp raised its stake in WEX Inc. (NYSE:WEX - Free Report) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,240,953 shares of the business services provider's stock after purchasing an additional 3,882 shares during the period. State Street Corp owned 3.12% of WEX worth $260,265,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Commerce Bank lifted its position in WEX by 1.7% during the third quarter. Commerce Bank now owns 3,624 shares of the business services provider's stock worth $760,000 after acquiring an additional 60 shares during the last quarter. American Century Companies Inc. lifted its position in WEX by 0.7% during the second quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider's stock worth $1,847,000 after purchasing an additional 68 shares during the period. Ballentine Partners LLC boosted its position in shares of WEX by 3.3% during the 2nd quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider's stock worth $396,000 after acquiring an additional 72 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of WEX by 40.7% in the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider's stock valued at $63,000 after purchasing an additional 87 shares in the last quarter. Finally, Covestor Ltd raised its stake in WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider's stock worth $58,000 after acquiring an additional 89 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

WEX Trading Down 0.1 %

WEX traded down $0.14 during trading on Wednesday, hitting $178.80. The company's stock had a trading volume of 382,702 shares, compared to its average volume of 358,859. The firm has a market capitalization of $7.11 billion, a P/E ratio of 22.71, a PEG ratio of 1.45 and a beta of 1.57. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04. The stock's fifty day moving average price is $191.11 and its 200-day moving average price is $186.69. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87.

WEX (NYSE:WEX - Get Free Report) last released its earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.82 by $0.53. The company had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. WEX's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.44 EPS. Analysts anticipate that WEX Inc. will post 13.1 EPS for the current year.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the firm's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 6.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert Joseph Deshaies sold 175 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the completion of the transaction, the chief operating officer now owns 7,582 shares in the company, valued at $1,436,334.08. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on WEX. JPMorgan Chase & Co. cut their target price on shares of WEX from $210.00 to $200.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 20th. Jefferies Financial Group boosted their price objective on WEX from $190.00 to $210.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Wells Fargo & Company dropped their target price on WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a research report on Friday, October 25th. Robert W. Baird reduced their price target on WEX from $285.00 to $230.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Finally, Bank of America lifted their target price on shares of WEX from $238.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $235.91.

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.