WEX Inc. (NYSE:WEX) Shares Purchased by Net Worth Advisory Group

Net Worth Advisory Group boosted its position in WEX Inc. (NYSE:WEX) by 54.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,053 shares of the business services provider’s stock after acquiring an additional 723 shares during the quarter. Net Worth Advisory Group’s holdings in WEX were worth $322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in WEX by 27,871.3% during the first quarter. GAMMA Investing LLC now owns 69,089 shares of the business services provider’s stock worth $10,848,000 after purchasing an additional 68,842 shares in the last quarter. LPL Financial LLC raised its holdings in WEX by 13.2% during the fourth quarter. LPL Financial LLC now owns 29,408 shares of the business services provider’s stock worth $5,283,000 after purchasing an additional 3,439 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in WEX by 7.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,008 shares of the business services provider’s stock worth $1,053,000 after purchasing an additional 393 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after purchasing an additional 66 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of WEX by 108.4% during the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after acquiring an additional 129 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WEX. Wells Fargo & Company cut their target price on shares of WEX from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group lifted their target price on shares of WEX from $130.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, May 27th. UBS Group cut their target price on shares of WEX from $172.00 to $138.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Robert W. Baird set a $186.00 target price on shares of WEX in a report on Tuesday, February 18th. Finally, Oppenheimer began coverage on shares of WEX in a report on Thursday, May 15th. They issued a “market perform” rating on the stock. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $176.90.

Insiders Place Their Bets

In other WEX news, CAO Jennifer Kimball sold 1,400 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $131.08, for a total transaction of $183,512.00. Following the sale, the chief accounting officer now directly owns 3,177 shares in the company, valued at approximately $416,441.16. The trade was a 30.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Melissa D. Smith bought 3,721 shares of the firm’s stock in a transaction on Thursday, May 29th. The shares were bought at an average price of $134.57 per share, for a total transaction of $500,734.97. Following the completion of the transaction, the chief executive officer now directly owns 101,182 shares in the company, valued at approximately $13,616,061.74. This represents a 3.82% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

WEX Stock Performance

NYSE:WEX opened at $140.13 on Friday. The firm’s fifty day moving average price is $130.87 and its 200 day moving average price is $154.97. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $217.47. 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 firm has a market cap of $4.80 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.11. The firm had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. WEX had a net margin of 11.78% and a return on equity of 32.35%. WEX’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $3.46 EPS. On average, sell-side analysts expect that WEX Inc. will post 14.09 EPS for the current year.

WEX 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.