Charles Schwab Investment Management Inc. Grows Position in WEX Inc. (NYSE:WEX)

Charles Schwab Investment Management Inc. lifted its holdings in shares of WEX Inc. (NYSE:WEX) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 316,682 shares of the business services provider’s stock after buying an additional 2,244 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.80% of WEX worth $55,521,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atria Investments Inc raised its stake in shares of WEX by 289.0% in the third quarter. Atria Investments Inc now owns 6,528 shares of the business services provider’s stock worth $1,369,000 after buying an additional 4,850 shares during the period. Covestor Ltd raised its stake in shares of WEX by 47.3% in the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after buying an additional 89 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of WEX by 21.6% in the third quarter. Crossmark Global Holdings Inc. now owns 3,218 shares of the business services provider’s stock worth $675,000 after buying an additional 572 shares during the period. Venturi Wealth Management LLC raised its stake in shares of WEX by 206.1% in the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after buying an additional 101 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of WEX by 290.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 14,280 shares of the business services provider’s stock worth $2,995,000 after buying an additional 10,625 shares during the period. 97.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WEX shares. Mizuho decreased their target price on WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Robert W. Baird set a $186.00 price objective on WEX in a research report on Tuesday, February 18th. UBS Group decreased their price target on WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Wells Fargo & Company cut their price objective on WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, Jefferies Financial Group increased their price objective on WEX from $180.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $195.73.

WEX Trading Up 0.1 %

Shares of NYSE:WEX opened at $150.52 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. WEX Inc. has a 12-month low of $146.03 and a 12-month high of $244.04. The firm has a fifty day moving average of $167.62 and a two-hundred day moving average of $182.08. The firm has a market capitalization of $5.84 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. On average, equities analysts expect that WEX Inc. will post 14.09 EPS for the current fiscal year.

WEX 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.