WEX Inc. (NYSE:WEX) Stock Position Lifted by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its holdings in WEX Inc. (NYSE:WEX) by 215.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,352 shares of the business services provider’s stock after purchasing an additional 2,972 shares during the quarter. Edgestream Partners L.P.’s holdings in WEX were worth $1,034,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC lifted its holdings in shares of WEX by 15.6% in the fourth quarter. CWM LLC now owns 377 shares of the business services provider’s stock valued at $73,000 after buying an additional 51 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of WEX by 4.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,733 shares of the business services provider’s stock valued at $337,000 after buying an additional 72 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of WEX by 5.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,893 shares of the business services provider’s stock valued at $368,000 after buying an additional 94 shares during the period. Cozad Asset Management Inc. lifted its holdings in shares of WEX by 2.1% during the first quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider’s stock valued at $1,148,000 after purchasing an additional 100 shares during the last quarter. Finally, Rise Advisors LLC acquired a new position in shares of WEX in the 1st quarter valued at $29,000. Institutional investors own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

WEX has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their price target on WEX from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Citigroup increased their price target on WEX from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Evercore ISI increased their price target on WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Barclays raised their price objective on WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods decreased their price objective on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, WEX currently has an average rating of “Moderate Buy” and an average price target of $238.85.

WEX Stock Performance

NYSE WEX traded down $1.39 during trading on Tuesday, hitting $183.00. The company’s stock had a trading volume of 50,786 shares, compared to its average volume of 326,780. WEX Inc. has a 52 week low of $161.95 and a 52 week high of $244.04. The firm has a market cap of $7.67 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The firm has a 50 day moving average price of $182.37 and a 200 day moving average price of $206.39. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.73.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.15. The company had revenue of $652.70 million for the quarter, compared to analyst estimates of $653.52 million. WEX had a return on equity of 30.92% and a net margin of 10.21%. Equities research analysts forecast that WEX Inc. will post 13.94 earnings per share for the current fiscal year.

Insider Buying and Selling at WEX

In other WEX news, CAO Jennifer Kimball sold 1,200 shares of WEX stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total value of $253,860.00. Following the completion of the transaction, the chief accounting officer now owns 1,909 shares in the company, valued at approximately $403,848.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other WEX news, CAO Jennifer Kimball sold 1,200 shares of WEX stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total value of $253,860.00. Following the completion of the transaction, the chief accounting officer now owns 1,909 shares in the company, valued at approximately $403,848.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Sara Trickett sold 734 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total value of $154,455.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,911 shares of company stock worth $1,008,402. 1.10% of the stock is currently owned by insiders.

WEX Company 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.