14,898 Shares in WEX Inc. $WEX Acquired by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in WEX Inc. (NYSE:WEX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,898 shares of the business services provider’s stock, valued at approximately $2,188,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in WEX by 1.0% in the first quarter. Envestnet Asset Management Inc. now owns 59,053 shares of the business services provider’s stock valued at $9,272,000 after buying an additional 578 shares during the period. Jane Street Group LLC lifted its stake in WEX by 399.9% in the first quarter. Jane Street Group LLC now owns 210,707 shares of the business services provider’s stock valued at $33,085,000 after buying an additional 168,558 shares during the period. Cerity Partners LLC lifted its stake in WEX by 88.5% in the first quarter. Cerity Partners LLC now owns 10,002 shares of the business services provider’s stock valued at $1,571,000 after buying an additional 4,695 shares during the period. Optimize Financial Inc acquired a new position in WEX in the first quarter valued at approximately $389,000. Finally, Lifestyle Asset Management Inc. lifted its stake in WEX by 47.2% in the second quarter. Lifestyle Asset Management Inc. now owns 7,739 shares of the business services provider’s stock valued at $1,137,000 after buying an additional 2,482 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on WEX shares. William Blair reaffirmed a “market perform” rating on shares of WEX in a research report on Friday, July 25th. UBS Group upped their target price on WEX from $138.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Morgan Stanley upped their target price on WEX from $142.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of WEX in a research report on Wednesday, October 8th. Finally, Barclays upped their target price on WEX from $135.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, WEX presently has an average rating of “Hold” and an average target price of $173.50.

WEX Trading Up 1.2%

NYSE WEX opened at $152.37 on Wednesday. The firm has a market capitalization of $5.22 billion, a P/E ratio of 19.26, a PEG ratio of 1.41 and a beta of 1.26. The business has a fifty day simple moving average of $166.59 and a 200 day simple moving average of $150.06. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $217.47. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99.

Insiders Place Their Bets

In related news, insider Ann Elena Drew sold 1,931 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $171.69, for a total value of $331,533.39. Following the completion of the sale, the insider directly owned 7,295 shares of the company’s stock, valued at approximately $1,252,478.55. This represents a 20.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Carlos Carriedo sold 875 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $171.68, for a total value of $150,220.00. Following the completion of the sale, the chief operating officer directly owned 5,270 shares of the company’s stock, valued at $904,753.60. The trade was a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

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.