Evercore Wealth Management LLC Invests $804,000 in WEX Inc (WEX)

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Evercore Wealth Management LLC purchased a new position in WEX Inc (NYSE:WEX) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,005 shares of the business services provider’s stock, valued at approximately $804,000.

Other large investors also recently modified their holdings of the company. TRUE Private Wealth Advisors bought a new stake in shares of WEX in the third quarter worth $103,000. Cutler Group LP increased its stake in WEX by 133.3% during the second quarter. Cutler Group LP now owns 700 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 400 shares during the last quarter. Parallel Advisors LLC bought a new stake in WEX during the third quarter valued at $166,000. NumerixS Investment Technologies Inc increased its stake in WEX by 150.0% during the second quarter. NumerixS Investment Technologies Inc now owns 1,000 shares of the business services provider’s stock valued at $191,000 after purchasing an additional 600 shares during the last quarter. Finally, HPM Partners LLC bought a new stake in WEX during the second quarter valued at $215,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Several analysts have weighed in on WEX shares. Wells Fargo & Co upgraded shares of WEX from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $190.00 to $200.00 in a research note on Thursday, November 1st. Deutsche Bank reiterated a “buy” rating and set a $186.00 target price on shares of WEX in a research note on Wednesday, November 21st. ValuEngine lowered shares of WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Barclays started coverage on shares of WEX in a research note on Wednesday, November 14th. They set an “overweight” rating and a $211.00 target price for the company. Finally, Zacks Investment Research upgraded shares of WEX from a “hold” rating to a “buy” rating and set a $211.00 target price for the company in a research note on Saturday, October 13th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. WEX presently has a consensus rating of “Buy” and a consensus price target of $198.50.

WEX stock opened at $153.48 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.50 and a quick ratio of 1.50. WEX Inc has a 1-year low of $128.00 and a 1-year high of $203.49. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 1.35 and a beta of 1.69.

WEX (NYSE:WEX) last released its earnings results on Wednesday, October 31st. The business services provider reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.07. WEX had a net margin of 15.63% and a return on equity of 16.92%. The firm had revenue of $382.70 million during the quarter, compared to analyst estimates of $375.15 million. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. Equities research analysts predict that WEX Inc will post 7.59 earnings per share for the current fiscal year.

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WEX Profile

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.

Further Reading: What is the Consumer Price Index (CPI)?

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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