Russell Investments Group Ltd. Has $1.16 Million Stock Position in WEX Inc. (NYSE:WEX)

Russell Investments Group Ltd. increased its position in shares of WEX Inc. (NYSE:WEX) by 172.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,623 shares of the business services provider’s stock after purchasing an additional 4,192 shares during the period. Russell Investments Group Ltd.’s holdings in WEX were worth $1,161,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of WEX by 105.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider’s stock worth $358,812,000 after acquiring an additional 1,052,087 shares during the period. River Road Asset Management LLC boosted its stake in WEX by 0.7% in the 4th quarter. River Road Asset Management LLC now owns 725,842 shares of the business services provider’s stock valued at $127,255,000 after buying an additional 5,377 shares in the last quarter. Sei Investments Co. grew its position in WEX by 5.2% in the fourth quarter. Sei Investments Co. now owns 481,490 shares of the business services provider’s stock valued at $84,415,000 after acquiring an additional 23,859 shares during the period. Norges Bank acquired a new position in WEX during the fourth quarter worth $80,535,000. Finally, Bank of New York Mellon Corp lifted its holdings in WEX by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 374,359 shares of the business services provider’s stock valued at $65,633,000 after purchasing an additional 30,395 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

WEX Trading Up 0.5 %

Shares of NYSE WEX opened at $123.25 on Monday. WEX Inc. has a fifty-two week low of $110.45 and a fifty-two week high of $235.20. The firm has a market capitalization of $4.22 billion, a P/E ratio of 16.43, a P/E/G ratio of 2.06 and a beta of 1.33. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The company’s 50 day simple moving average is $147.04 and its 200 day simple moving average is $170.62.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. On average, analysts predict that WEX Inc. will post 14.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WEX. Wells Fargo & Company cut their price objective on WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Robert W. Baird set a $186.00 price target on WEX in a report on Tuesday, February 18th. Barclays reduced their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. William Blair restated a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Finally, Mizuho reduced their target price on shares of WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, WEX has an average rating of “Hold” and a consensus target price of $187.80.

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.