WEX Inc. (NYSE:WEX) Stake Boosted by Foyston Gordon & Payne Inc

Foyston Gordon & Payne Inc grew its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 878.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,520 shares of the business services provider's stock after buying an additional 17,524 shares during the period. Foyston Gordon & Payne Inc's holdings in WEX were worth $4,094,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its stake in WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock worth $31,000 after purchasing an additional 101 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of WEX during the 2nd quarter valued at about $33,000. Quarry LP lifted its holdings in WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider's stock worth $33,000 after acquiring an additional 165 shares during the last quarter. Blue Trust Inc. boosted its stake in WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider's stock valued at $40,000 after acquiring an additional 187 shares during the period. Finally, Covestor Ltd grew its holdings in shares of 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 purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.

WEX Price Performance

WEX stock traded down $4.03 on Tuesday, hitting $178.94. 355,094 shares of the company's stock traded hands, compared to its average volume of 358,395. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 23.23, a P/E/G ratio of 1.45 and a beta of 1.57. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04. The stock has a fifty day moving average of $191.72 and a 200-day moving average of $186.75.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WEX shares. Wells Fargo & Company cut their price target on WEX from $200.00 to $180.00 and set an "equal weight" rating on the stock in a report on Friday, October 25th. Jefferies Financial Group boosted their price target on shares of WEX from $190.00 to $210.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Wolfe Research cut shares of WEX from an "outperform" rating to a "peer perform" rating in a report on Monday, October 28th. JPMorgan Chase & Co. reduced their target price on shares of WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a research note on Tuesday, August 20th. Finally, Bank of America raised their price target on shares of WEX from $238.00 to $255.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $235.91.

Insider Buying and Selling

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

WEX 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.