Fisher Asset Management LLC Buys 6,167 Shares of WEX Inc. (NYSE:WEX)

Fisher Asset Management LLC increased its stake in shares of WEX Inc. (NYSE:WEX) by 25.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,840 shares of the business services provider’s stock after acquiring an additional 6,167 shares during the period. Fisher Asset Management LLC owned about 0.08% of WEX worth $6,468,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of WEX. Cetera Investment Advisers raised its holdings in WEX by 856.0% during the first quarter. Cetera Investment Advisers now owns 13,289 shares of the business services provider’s stock worth $3,157,000 after acquiring an additional 11,899 shares in the last quarter. Cetera Advisors LLC acquired a new position in WEX during the first quarter worth approximately $327,000. HM Payson & Co. increased its position in WEX by 4.8% during the first quarter. HM Payson & Co. now owns 169,230 shares of the business services provider’s stock worth $40,197,000 after buying an additional 7,733 shares during the last quarter. Trust Co. of Vermont acquired a new position in WEX during the second quarter worth approximately $94,000. Finally, Harbor Capital Advisors Inc. increased its position in WEX by 256.6% during the second quarter. Harbor Capital Advisors Inc. now owns 11,765 shares of the business services provider’s stock worth $2,084,000 after buying an additional 8,466 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

WEX Trading Up 2.1 %

Shares of WEX stock opened at $189.80 on Friday. 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 stock has a market cap of $7.55 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 1.47 and a beta of 1.57. The stock has a 50 day simple moving average of $195.19 and a 200 day simple moving average of $187.53. WEX Inc. has a 1 year low of $165.51 and a 1 year high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.82 by $0.53. The business had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.44 earnings per share. On average, research analysts predict that WEX Inc. will post 13.1 earnings per share for the current fiscal year.

Insider Activity at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. This represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WEX has been the topic of a number of recent analyst reports. Wolfe Research downgraded WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Wells Fargo & Company lowered their price target on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Robert W. Baird lowered their price target on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Bank of America boosted their price target on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group upped their target price on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

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.