Proficio Capital Partners LLC Acquires Shares of 44,531 WEX Inc. (NYSE:WEX)

Proficio Capital Partners LLC acquired a new stake in shares of WEX Inc. (NYSE:WEX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 44,531 shares of the business services provider’s stock, valued at approximately $7,807,000. Proficio Capital Partners LLC owned 0.11% of WEX at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WEX. FMR LLC lifted its position in WEX by 8.8% during the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after buying an additional 125,262 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in WEX by 82.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 175,690 shares of the business services provider’s stock valued at $36,847,000 after buying an additional 79,252 shares during the period. Fisher Asset Management LLC lifted its position in WEX by 168.8% during the fourth quarter. Fisher Asset Management LLC now owns 82,896 shares of the business services provider’s stock valued at $14,533,000 after buying an additional 52,056 shares during the period. Natixis Advisors LLC lifted its position in WEX by 300.4% during the third quarter. Natixis Advisors LLC now owns 68,539 shares of the business services provider’s stock valued at $14,375,000 after buying an additional 51,423 shares during the period. Finally, Premier Fund Managers Ltd lifted its position in WEX by 18.1% during the third quarter. Premier Fund Managers Ltd now owns 300,000 shares of the business services provider’s stock valued at $62,750,000 after buying an additional 46,000 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analysts Set New Price Targets

WEX has been the subject of several recent research reports. Citigroup lowered WEX from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. William Blair reaffirmed a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Jefferies Financial Group lifted their price target on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Finally, Robert W. Baird set a $186.00 price target on WEX in a research report on Tuesday, February 18th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $195.73.

WEX Price Performance

NYSE WEX opened at $154.47 on Friday. WEX Inc. has a one year low of $146.03 and a one year high of $244.04. The stock has a 50-day moving average of $166.67 and a 200 day moving average of $181.60. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 20.60, a PEG 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.

WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) 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, sell-side analysts forecast that WEX Inc. will post 14.09 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.