121 Shares in WEX Inc. (NYSE:WEX) Acquired by Rise Advisors LLC

Rise Advisors LLC acquired a new position in WEX Inc. (NYSE:WEX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 121 shares of the business services provider’s stock, valued at approximately $29,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in WEX by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after buying an additional 179,813 shares during the last quarter. Kodai Capital Management LP bought a new stake in WEX during the fourth quarter worth approximately $49,750,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in WEX during the fourth quarter worth approximately $3,617,000. International Assets Investment Management LLC boosted its position in shares of WEX by 19,044.7% in the fourth quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock valued at $7,002,000 after acquiring an additional 35,804 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of WEX by 2.7% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock valued at $177,076,000 after acquiring an additional 22,865 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

WEX has been the subject of several research reports. Citigroup increased their price objective on WEX from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Barclays lifted their price target on shares of WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Evercore ISI lifted their price target on shares of WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Robert W. Baird lifted their price target on shares of WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, StockNews.com downgraded shares of WEX from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $237.14.

Insider Activity

In other news, COO Robert Joseph Deshaies sold 1,897 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $211.01, for a total value of $400,285.97. Following the sale, the chief operating officer now owns 9,408 shares of the company’s stock, valued at $1,985,182.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Robert Joseph Deshaies sold 1,897 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $211.01, for a total value of $400,285.97. Following the sale, the chief operating officer now owns 9,408 shares of the company’s stock, valued at $1,985,182.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Sara Trickett sold 734 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total transaction of $154,455.62. The disclosure for this sale can be found here. Insiders sold 3,831 shares of company stock worth $808,602 over the last quarter. 1.10% of the stock is currently owned by company insiders.

WEX Stock Up 0.3 %

Shares of NYSE WEX opened at $169.97 on Friday. The stock has a market cap of $7.12 billion, a P/E ratio of 27.64, a P/E/G ratio of 0.98 and a beta of 1.56. The firm has a 50 day moving average price of $199.99 and a 200 day moving average price of $207.59. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.15. The company had revenue of $652.70 million during the quarter, compared to analysts’ expectations of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. Analysts expect that WEX Inc. will post 13.95 EPS for the current year.

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.