WEX Inc. (NYSE:WEX) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC boosted its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 474.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 14,089 shares of the business services provider's stock after acquiring an additional 11,636 shares during the quarter. Verition Fund Management LLC's holdings in WEX were worth $2,955,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its position in WEX by 206.1% in 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 last quarter. International Assets Investment Management LLC purchased a new stake in shares of WEX in the second quarter worth about $33,000. Quarry LP grew its holdings in WEX by 717.4% during 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 period. Blue Trust Inc. lifted its holdings 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 lifted its stake in shares of WEX by 47.3% in the 3rd 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 period. Hedge funds and other institutional investors own 97.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WEX shares. JPMorgan Chase & Co. cut their price objective on shares of WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a report on Tuesday, August 20th. Wolfe Research downgraded WEX from an "outperform" rating to a "peer perform" rating in a research report on Monday, October 28th. Robert W. Baird cut their price objective on WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Bank of America lifted their target price on shares of WEX from $238.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group upped their price target on shares of WEX from $190.00 to $210.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Six 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 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.

WEX Trading Down 0.8 %

NYSE:WEX traded down $1.56 on Thursday, hitting $182.34. 217,360 shares of the stock were exchanged, compared to its average volume of 357,462. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX Inc. has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The stock has a market cap of $7.25 billion, a PE ratio of 23.33, a PEG ratio of 1.47 and a beta of 1.57. The stock has a fifty day moving average of $193.23 and a 200-day moving average of $186.99.

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

Insiders Place Their Bets

In other WEX 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 value of $101,600.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Robert Joseph Deshaies sold 175 shares of the 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

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.