WEX Inc. (NYSE:WEX) Shares Purchased by Creative Planning

Creative Planning boosted its position in WEX Inc. (NYSE:WEX) by 1.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,721 shares of the business services provider’s stock after purchasing an additional 1,398 shares during the period. Creative Planning owned approximately 0.19% of WEX worth $16,510,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in WEX. International Assets Investment Management LLC acquired a new stake in WEX in the second quarter worth approximately $33,000. Quarry LP increased its holdings in shares of WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after buying an additional 165 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after buying an additional 187 shares in the last quarter. Covestor Ltd increased its holdings in shares of WEX by 233.9% in the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after buying an additional 131 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in shares of WEX in the first quarter valued at $60,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Trading Down 1.7 %

NYSE WEX opened at $212.90 on Tuesday. WEX Inc. has a 1-year low of $161.95 and a 1-year high of $244.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $8.75 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.55. The firm’s fifty day simple moving average is $198.16 and its 200-day simple moving average is $195.19.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.09. WEX had a net margin of 9.32% and a return on equity of 31.05%. The business had revenue of $673.50 million for the quarter, compared to the consensus estimate of $677.44 million. As a group, sell-side analysts anticipate that WEX Inc. will post 13.68 earnings per share for the current fiscal year.

Insider Transactions at WEX

In related news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Robert Joseph Deshaies sold 1,651 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at approximately $1,409,214.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,905 shares of company stock valued at $895,107. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WEX has been the topic of several research reports. William Blair raised WEX to a “strong-buy” rating in a report on Friday, July 26th. Bank of America upped their price target on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group upped their price target on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price target on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods cut their target price on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, WEX currently has an average rating of “Moderate Buy” and a consensus target price of $239.17.

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.