Creative Planning Has $16.51 Million Stock Holdings in WEX Inc. (NYSE:WEX)

Creative Planning increased its position in shares of WEX Inc. (NYSE:WEX) by 1.8% during the third quarter, Holdings Channel reports. The institutional investor owned 78,721 shares of the business services provider’s stock after purchasing an additional 1,398 shares during the quarter. Creative Planning’s holdings in WEX were worth $16,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in WEX by 0.7% during the second quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock worth $1,847,000 after purchasing an additional 68 shares during the period. Ballentine Partners LLC lifted its stake in WEX by 3.3% during the second quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock worth $396,000 after purchasing an additional 72 shares during the period. GAMMA Investing LLC lifted its stake in WEX by 40.7% during the third quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after purchasing an additional 87 shares during the period. Cozad Asset Management Inc. lifted its stake in WEX by 2.1% during the first quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider’s stock worth $1,148,000 after purchasing an additional 100 shares during the period. Finally, Long Road Investment Counsel LLC lifted its stake in WEX by 0.4% during the second quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider’s stock worth $4,729,000 after purchasing an additional 100 shares during the period. Institutional investors own 97.47% of the company’s stock.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction on 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 sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other WEX news, insider Melanie J. Tinto sold 1,564 shares of WEX stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total transaction of $289,402.56. Following the completion of the sale, the insider now owns 8,461 shares of the company’s stock, valued at approximately $1,565,623.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction on 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 directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,905 shares of company stock valued at $895,107. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

WEX has been the subject of a number of analyst reports. William Blair upgraded shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. cut 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. Bank of America lifted their target price on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group lifted their target price on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on shares of WEX from $190.00 to $200.00 and gave the company an “equal weight” rating in a research note on Monday. Six 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’s stock. According to data from MarketBeat.com, WEX has a consensus rating of “Moderate Buy” and a consensus price target of $239.17.

WEX Stock Performance

Shares of WEX stock opened at $212.90 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $8.75 billion, a P/E ratio of 36.83, a P/E/G ratio of 1.22 and a beta of 1.55. The firm has a 50 day simple moving average of $198.16 and a 200 day simple moving average of $195.19. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04.

WEX (NYSE:WEX) last released its earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $677.44 million. Sell-side analysts predict that WEX Inc. will post 13.68 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.