JPMorgan Chase & Co. Acquires 1,052,087 Shares of WEX Inc. (NYSE:WEX)

JPMorgan Chase & Co. boosted its holdings in shares of WEX Inc. (NYSE:WEX) by 105.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,046,614 shares of the business services provider’s stock after acquiring an additional 1,052,087 shares during the quarter. JPMorgan Chase & Co. owned 5.14% of WEX worth $358,812,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC bought a new position in shares of WEX during the fourth quarter worth about $28,689,000. FMR LLC raised its holdings in WEX by 8.8% during the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock worth $326,237,000 after purchasing an additional 125,262 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of WEX by 82.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 175,690 shares of the business services provider’s stock worth $36,847,000 after purchasing an additional 79,252 shares during the period. Raymond James Financial Inc. bought a new stake in shares of WEX in the 4th quarter valued at $12,444,000. Finally, Fisher Asset Management LLC increased its position in shares of WEX by 168.8% during the fourth quarter. Fisher Asset Management LLC now owns 82,896 shares of the business services provider’s stock worth $14,533,000 after buying an additional 52,056 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Stock Performance

NYSE WEX opened at $154.69 on Monday. The company has a market cap of $6.00 billion, a P/E ratio of 20.62, a PEG ratio of 2.06 and a beta of 1.61. The company has a fifty day simple moving average of $162.27 and a 200 day simple moving average of $179.13. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. WEX Inc. has a 12-month low of $146.03 and a 12-month high of $244.04.

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

Analyst Ratings Changes

WEX has been the topic of a number of research analyst reports. Barclays cut their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Jefferies Financial Group upped their target price on WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Citigroup cut WEX from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. Mizuho dropped their price target on WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Finally, Wells Fargo & Company reduced their price objective on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $187.80.

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.