WEX Inc. (NYSE:WEX) Shares Bought by Covestor Ltd

Covestor Ltd boosted its stake in shares of WEX Inc. (NYSE:WEX) by 47.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 277 shares of the business services provider’s stock after buying an additional 89 shares during the quarter. Covestor Ltd’s holdings in WEX were worth $58,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WEX. International Assets Investment Management LLC acquired a new stake in shares of WEX in the second quarter valued at approximately $33,000. Quarry LP grew its position in shares of WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after buying an additional 187 shares during the period. GAMMA Investing LLC lifted its stake in shares of WEX by 40.7% during the third quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock valued at $63,000 after buying an additional 87 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of WEX by 40.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the business services provider’s stock valued at $77,000 after buying an additional 124 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 6.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Robert Joseph Deshaies sold 1,651 shares of the company’s 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 transaction, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. The trade was a 17.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

WEX Stock Up 0.5 %

Shares of WEX stock opened at $180.91 on Friday. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.42 and a beta of 1.57. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The company has a fifty day moving average price of $197.48 and a 200 day moving average price of $189.43.

WEX (NYSE:WEX) last issued its earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $3.82 by $0.53. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.44 earnings per share. Equities research analysts forecast that WEX Inc. will post 13.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on WEX shares. Bank of America upped their price objective 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. William Blair raised shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. reduced their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group upped their price objective 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. Six investment 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $235.91.

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.