WEX Inc. (NYSE:WEX) Position Increased by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC raised its holdings in shares of WEX Inc. (NYSE:WEX) by 95.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 10,205 shares of the business services provider’s stock after purchasing an additional 4,971 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in WEX were worth $1,602,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Lifestyle Asset Management Inc. boosted its holdings in WEX by 7.8% during the first quarter. Lifestyle Asset Management Inc. now owns 5,257 shares of the business services provider’s stock worth $825,000 after buying an additional 380 shares in the last quarter. GAMMA Investing LLC boosted 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 buying an additional 68,842 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in WEX by 298.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,769 shares of the business services provider’s stock worth $2,239,000 after buying an additional 9,561 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in WEX during the fourth quarter worth approximately $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in WEX by 11.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,971 shares of the business services provider’s stock worth $34,007,000 after purchasing an additional 19,534 shares during the period. 97.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WEX. Wells Fargo & Company decreased their price objective on shares of WEX from $160.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. UBS Group decreased their price objective on shares of WEX from $172.00 to $138.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Barclays decreased their price objective on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Jefferies Financial Group raised their price objective on shares of WEX from $130.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, May 27th. Finally, Oppenheimer began coverage on shares of WEX in a research note on Thursday, May 15th. They issued a “market perform” rating for the company. Ten investment 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, WEX has a consensus rating of “Hold” and an average price target of $176.90.

WEX Stock Up 1.5%

WEX stock opened at $138.54 on Friday. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.06 and a beta of 1.22. The company has a 50 day moving average of $130.68 and a two-hundred day moving average of $156.17.

WEX (NYSE:WEX) last released its quarterly earnings results 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 business had revenue of $636.60 million for the quarter, compared to the consensus estimate of $631.42 million. WEX had a net margin of 11.78% and a return on equity of 32.35%. WEX’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.46 EPS. On average, equities analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Insider Activity

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