WEX Inc. (NYSE:WEX) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in WEX Inc. (NYSE:WEX) by 27,871.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,089 shares of the business services provider’s stock after purchasing an additional 68,842 shares during the quarter. GAMMA Investing LLC owned approximately 0.18% of WEX worth $10,848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its stake in WEX by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 65 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 66 shares during the last quarter. Xponance Inc. increased its stake in WEX by 1.4% in the fourth quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock valued at $853,000 after purchasing an additional 68 shares during the last quarter. Truvestments Capital LLC increased its stake in WEX by 4.9% in the fourth quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 78 shares during the last quarter. Finally, Isthmus Partners LLC increased its stake in WEX by 6.1% in the fourth quarter. Isthmus Partners LLC now owns 1,886 shares of the business services provider’s stock valued at $331,000 after purchasing an additional 108 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Mizuho dropped their target price on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Robert W. Baird set a $186.00 target price on WEX in a research note on Tuesday, February 18th. Oppenheimer began coverage on WEX in a research note on Thursday, May 15th. They set a “market perform” rating for the company. Jefferies Financial Group upped their price target on WEX from $130.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, May 27th. Finally, Barclays dropped their price target on WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $176.90.

Insiders Place Their Bets

In other news, CAO Jennifer Kimball sold 1,400 shares of WEX stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $131.08, for a total transaction of $183,512.00. Following the transaction, the chief accounting officer now directly owns 3,177 shares in the company, valued at approximately $416,441.16. This trade represents a 30.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Melissa D. Smith purchased 3,721 shares of the stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $134.57 per share, for a total transaction of $500,734.97. Following the completion of the transaction, the chief executive officer now owns 101,182 shares in the company, valued at $13,616,061.74. This trade represents a 3.82% increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

WEX Price Performance

Shares of NYSE WEX opened at $138.54 on Friday. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $217.47. The business has a 50-day moving average of $130.68 and a 200-day moving average of $156.00. 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 has a market capitalization of $4.74 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.06 and a beta of 1.22.

WEX (NYSE:WEX) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.11. The firm had revenue of $636.60 million during the quarter, compared to the consensus estimate of $631.42 million. WEX had a return on equity of 32.35% and a net margin of 11.78%. WEX’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.46 earnings per share. On average, equities analysts anticipate that WEX Inc. will post 14.09 EPS 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.