Charles Schwab Investment Management Inc. Purchases 2,244 Shares of WEX Inc. (NYSE:WEX)

Charles Schwab Investment Management Inc. lifted its position in shares of WEX Inc. (NYSE:WEX) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 316,682 shares of the business services provider’s stock after purchasing an additional 2,244 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in WEX were worth $55,521,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC raised its holdings in shares of WEX by 300.4% during the third quarter. Natixis Advisors LLC now owns 68,539 shares of the business services provider’s stock worth $14,375,000 after acquiring an additional 51,423 shares during the period. Fifth Third Bancorp increased its stake in WEX by 1,635.8% in the 4th quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider’s stock valued at $1,540,000 after buying an additional 8,277 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in WEX by 25.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after buying an additional 66 shares during the last quarter. Atria Investments Inc increased its stake in WEX by 289.0% in the 3rd quarter. Atria Investments Inc now owns 6,528 shares of the business services provider’s stock valued at $1,369,000 after buying an additional 4,850 shares during the last quarter. Finally, KBC Group NV increased its stake in WEX by 53.7% in the 4th quarter. KBC Group NV now owns 1,825 shares of the business services provider’s stock valued at $320,000 after buying an additional 638 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

WEX Price Performance

Shares of NYSE:WEX opened at $150.52 on Friday. The firm has a 50 day moving average of $167.62 and a 200-day moving average of $182.08. The stock has a market capitalization of $5.84 billion, a PE ratio of 20.07, a PEG ratio of 2.06 and a beta of 1.61. 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 released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts predict that WEX Inc. will post 14.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WEX shares. Bank of America lowered shares of WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. UBS Group lowered their price target on shares of WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Citigroup lowered shares of WEX from a “buy” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. Jefferies Financial Group lifted their price objective on shares of WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company decreased 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. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $195.73.

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.