WEX Inc. (NYSE:WEX) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in WEX Inc. (NYSE:WEX) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,053 shares of the business services provider’s stock after purchasing an additional 578 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of WEX worth $9,272,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in WEX by 105.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider’s stock valued at $358,812,000 after buying an additional 1,052,087 shares during the period. Norges Bank bought a new stake in WEX in the 4th quarter valued at $80,535,000. D. E. Shaw & Co. Inc. increased its holdings in WEX by 1,684.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 201,922 shares of the business services provider’s stock valued at $35,401,000 after buying an additional 190,605 shares during the period. Ariel Investments LLC increased its holdings in WEX by 113.0% in the 4th quarter. Ariel Investments LLC now owns 318,272 shares of the business services provider’s stock valued at $55,799,000 after buying an additional 168,832 shares during the period. Finally, AQR Capital Management LLC increased its holdings in WEX by 5,562.2% in the 4th quarter. AQR Capital Management LLC now owns 151,125 shares of the business services provider’s stock valued at $26,117,000 after buying an additional 148,456 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of WEX from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group upped their price target on shares of WEX from $130.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, May 27th. UBS Group decreased their price objective on shares of WEX from $172.00 to $138.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of WEX in a report on Thursday, July 17th. They issued a “hold” rating and a $150.00 price objective on the stock. Finally, Oppenheimer assumed coverage on shares of WEX in a report on Thursday, May 15th. They issued a “market perform” rating on the stock. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $174.45.

WEX Price Performance

NYSE WEX opened at $154.43 on Tuesday. WEX Inc. has a one year low of $110.45 and a one year high of $217.47. The stock has a 50-day moving average of $142.48 and a 200 day moving average of $149.10. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 2.38 and a beta of 1.23. The company has a debt-to-equity ratio of 5.06, a quick ratio of 1.05 and a current ratio of 1.05.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.11. The company had revenue of $636.60 million for the quarter, compared to the consensus estimate of $631.42 million. WEX had a return on equity of 37.90% and a net margin of 12.07%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $3.46 EPS. On average, sell-side analysts forecast that WEX Inc. will post 14.09 EPS for the current year.

Insider Activity at WEX

In related news, CAO Jennifer Kimball sold 1,400 shares of the business’s 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 completion of the transaction, the chief accounting officer owned 3,177 shares in the company, valued at $416,441.16. The trade was a 30.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Melissa D. Smith acquired 3,721 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were bought at an average price of $134.57 per share, with a total value of $500,734.97. Following the completion of the purchase, the chief executive officer directly owned 101,182 shares in the company, valued at $13,616,061.74. The trade was a 3.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

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.