Wealthfront Advisers LLC Buys Shares of 163,638 WEX Inc. (NYSE:WEX)

by · The Markets Daily

Wealthfront Advisers LLC purchased a new stake in WEX Inc. (NYSE:WEX – Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 163,638 shares of the business services provider’s stock, valued at approximately $28,689,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. River Road Asset Management LLC boosted its holdings in shares of WEX by 0.7% in the fourth quarter. River Road Asset Management LLC now owns 725,842 shares of the business services provider’s stock valued at $127,255,000 after acquiring an additional 5,377 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in WEX by 2.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,174 shares of the business services provider’s stock valued at $1,082,000 after purchasing an additional 150 shares during the last quarter. Isthmus Partners LLC raised its stake in shares of WEX by 6.1% in the fourth quarter. Isthmus Partners LLC now owns 1,886 shares of the business services provider’s stock worth $331,000 after acquiring an additional 108 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of WEX by 18.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,784 shares of the business services provider’s stock worth $1,891,000 after buying an additional 1,683 shares during the period. Finally, AlphaQuest LLC grew its holdings in WEX by 13,220.0% during the fourth quarter. AlphaQuest LLC now owns 666 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 661 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on WEX shares. William Blair reissued a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Barclays dropped their target price on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Mizuho lowered their price target on shares of WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, February 10th. UBS Group reduced their price objective on shares of WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. Finally, Jefferies Financial Group lifted their price target on shares of WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $195.73.

View Our Latest Research Report on WEX

WEX Trading Down 1.8 %

WEX stock opened at $153.54 on Wednesday. WEX Inc. has a one year low of $146.03 and a one year high of $244.04. The stock has a market cap of $5.96 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The stock has a 50-day moving average of $168.55 and a two-hundred day moving average of $182.53.

WEX (NYSE:WEX – Get Free Report) last issued its quarterly earnings data 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, research analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal year.

About WEX

(Free Report)

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.

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