WEX Inc. (NYSE:WEX) Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 76.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,197 shares of the business services provider's stock after buying an additional 8,731 shares during the quarter. Verdence Capital Advisors LLC owned about 0.05% of WEX worth $4,236,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Lifestyle Asset Management Inc. increased its holdings in shares of WEX by 9.9% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 4,913 shares of the business services provider's stock valued at $1,030,000 after acquiring an additional 443 shares during the period. Wisconsin Capital Management LLC increased its holdings in shares of WEX by 15.0% in the 3rd quarter. Wisconsin Capital Management LLC now owns 33,675 shares of the business services provider's stock valued at $7,063,000 after acquiring an additional 4,403 shares during the period. River Road Asset Management LLC increased its holdings in shares of WEX by 5.0% in the 3rd quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider's stock valued at $151,103,000 after acquiring an additional 34,264 shares during the period. QRG Capital Management Inc. acquired a new position in shares of WEX in the 3rd quarter valued at $219,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of WEX by 111.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 24,869 shares of the business services provider's stock valued at $5,216,000 after acquiring an additional 13,104 shares during the period. Hedge funds and other institutional investors own 97.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WEX shares. Robert W. Baird cut their target price on shares of WEX from $285.00 to $230.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Wells Fargo & Company dropped their price objective on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Friday, October 25th. Jefferies Financial Group boosted their price objective on shares of WEX from $190.00 to $210.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price objective on shares of WEX from $210.00 to $200.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 20th. Finally, William Blair raised shares of WEX to a "strong-buy" rating in a research note on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $235.91.

Insider Activity

In other news, COO Robert Joseph Deshaies sold 1,651 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the transaction, the chief operating officer now owns 7,757 shares of the company's stock, valued at $1,409,214.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Robert Joseph Deshaies sold 1,651 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the transaction, the chief operating officer now owns 7,757 shares of the company's stock, valued at $1,409,214.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jagtar Narula sold 508 shares of the 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 of the company's stock, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

WEX Trading Up 0.1 %

NYSE:WEX traded up $0.16 on Friday, reaching $184.06. The stock had a trading volume of 295,976 shares, compared to its average volume of 359,810. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 1.47 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. The firm's fifty day moving average is $198.08 and its two-hundred day moving average is $190.63. WEX Inc. has a 12-month low of $165.51 and a 12-month high of $244.04.

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 analyst estimates of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.44 EPS. Equities analysts expect that WEX Inc. will post 13.2 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.