Wealthfront Advisers LLC Acquires New Position in WEX Inc. (NYSE:WEX)

Wealthfront Advisers LLC acquired a new position in WEX Inc. (NYSE:WEX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 163,638 shares of the business services provider's stock, valued at approximately $28,689,000. Wealthfront Advisers LLC owned about 0.41% of WEX at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC lifted its position in WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock worth $31,000 after buying an additional 101 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in WEX during the 3rd quarter worth approximately $35,000. Jones Financial Companies Lllp increased its stake in WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock worth $43,000 after purchasing an additional 129 shares in the last quarter. UMB Bank n.a. grew its stake in shares of WEX by 552.5% during the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock worth $46,000 after acquiring an additional 221 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of WEX by 47.3% during the 3rd 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 currently owned by institutional investors and hedge funds.

WEX Stock Down 1.8 %

WEX stock opened at $153.54 on Wednesday. The stock has a market cap of $5.96 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. 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 fifty day moving average of $168.55 and a 200 day moving average of $182.53. WEX Inc. has a one year low of $146.03 and a one year high of $244.04.

Remove Ads

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping 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, sell-side analysts predict that WEX Inc. will post 14.09 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WEX shares. Bank of America cut shares of WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Wells Fargo & Company cut their price objective on WEX from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Friday, February 7th. Citigroup lowered WEX from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $260.00 to $190.00 in a research report on Tuesday, January 14th. Barclays reduced their price objective on WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. Finally, Mizuho dropped their price target on WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $195.73.

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.

Want to see what other hedge funds are holding WEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEX Inc. (NYSE:WEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.