UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 26,395 Shares of WEX Inc. (NYSE:WEX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 17.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 174,437 shares of the business services provider's stock after buying an additional 26,395 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.44% of WEX worth $36,585,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its position in WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock valued at $31,000 after buying an additional 101 shares during the period. International Assets Investment Management LLC bought a new position in WEX during the second quarter valued at about $33,000. Quarry LP grew its position in WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider's stock valued at $33,000 after buying an additional 165 shares during the period. Blue Trust Inc. grew its position in WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider's stock valued at $40,000 after buying an additional 187 shares during the period. Finally, Covestor Ltd grew its position in WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider's stock valued at $58,000 after buying an additional 89 shares during the period. Institutional investors own 97.47% of the company's stock.

Insider Activity at WEX

In related news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. The trade was a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction 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 of the company's stock, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WEX has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a research report on Tuesday, August 20th. Robert W. Baird cut their target price on shares of WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Wells Fargo & Company cut their target price on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a research report on Friday, October 25th. Wolfe Research lowered shares of WEX from an "outperform" rating to a "peer perform" rating in a research report on Monday, October 28th. Finally, Bank of America increased 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 investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $235.91.

WEX Trading Down 1.3 %

WEX stock traded down $2.44 during trading hours on Wednesday, reaching $183.56. The stock had a trading volume of 178,192 shares, compared to its average volume of 357,642. The company has a fifty day simple moving average of $193.65 and a 200-day simple moving average of $187.01. WEX Inc. has a 52 week low of $165.51 and a 52 week high of $244.04. The stock has a market cap of $7.30 billion, a PE ratio of 23.60, a PEG ratio of 1.50 and a beta of 1.57. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04.

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

WEX Company 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.