WEX Inc. (NYSE:WEX) Shares Purchased by Creative Planning

Creative Planning increased its holdings in shares of WEX Inc. (NYSE:WEX) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,323 shares of the business services provider’s stock after purchasing an additional 888 shares during the period. Creative Planning owned 0.19% of WEX worth $13,697,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WEX. Rise Advisors LLC acquired a new stake in shares of WEX in the 1st quarter worth $29,000. International Assets Investment Management LLC acquired a new stake in shares of WEX in the 2nd quarter worth $33,000. Covestor Ltd lifted its stake in shares of WEX by 233.9% in the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after acquiring an additional 131 shares during the period. Blue Trust Inc. lifted its stake in shares of WEX by 456.1% in the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after acquiring an additional 187 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of WEX in the 1st quarter worth $60,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

WEX has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. William Blair upgraded shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods cut their price target on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Finally, Wells Fargo & Company cut their price target on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $239.58.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Robert Joseph Deshaies sold 1,651 shares of WEX stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. The disclosure for this sale can be found here. In the last three months, insiders sold 5,985 shares of company stock worth $1,094,907. 1.10% of the stock is owned by corporate insiders.

WEX Stock Performance

NYSE:WEX opened at $209.58 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The firm has a 50-day moving average price of $187.85 and a two-hundred day moving average price of $197.82. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04. The company has a market capitalization of $8.61 billion, a P/E ratio of 34.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.54.

WEX (NYSE:WEX) last posted its earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.09. WEX had a net margin of 9.32% and a return on equity of 31.05%. The firm had revenue of $673.50 million during the quarter, compared to the consensus estimate of $677.44 million. As a group, research analysts expect that WEX Inc. will post 13.75 earnings per share for the current fiscal year.

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.