Fisher Asset Management LLC Has $14.53 Million Position in WEX Inc. (NYSE:WEX)

Fisher Asset Management LLC raised its stake in shares of WEX Inc. (NYSE:WEX) by 168.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 82,896 shares of the business services provider’s stock after purchasing an additional 52,056 shares during the quarter. Fisher Asset Management LLC’s holdings in WEX were worth $14,533,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Commerce Bank grew its position in shares of WEX by 1.7% in the 3rd quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock valued at $760,000 after purchasing an additional 60 shares during the period. CIBC Asset Management Inc boosted its position in WEX by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock worth $225,000 after acquiring an additional 65 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of WEX by 0.6% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock worth $1,959,000 after purchasing an additional 70 shares in the last quarter. Covestor Ltd raised 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 purchasing an additional 89 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of 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 purchasing an additional 101 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Stock Performance

Shares of NYSE WEX opened at $155.11 on Tuesday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The stock’s fifty day moving average price is $170.52 and its two-hundred day moving average price is $183.56. WEX Inc. has a one year low of $146.03 and a one year high of $244.04. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 2.06 and a beta of 1.58.

WEX (NYSE:WEX) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. On average, equities analysts forecast that WEX Inc. will post 14.09 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WEX. Jefferies Financial Group upped their price objective on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company dropped 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. William Blair reiterated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. UBS Group dropped their price objective on WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Finally, Citigroup cut WEX from a “buy” rating to a “neutral” rating and dropped their price target for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.