Hennion & Walsh Asset Management Inc. Has $577,000 Position in WEX Inc. (NYSE:WEX)

Hennion & Walsh Asset Management Inc. grew its position in shares of WEX Inc. (NYSE:WEX) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,292 shares of the business services provider’s stock after purchasing an additional 455 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in WEX were worth $577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WEX. Venturi Wealth Management LLC boosted its position in WEX by 206.1% during the 3rd 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. Quarry LP raised its stake in shares of WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 165 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of WEX during the third quarter worth $35,000. Covestor Ltd lifted its holdings in shares of WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after purchasing an additional 89 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of WEX in the third quarter worth $59,000. 97.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on WEX shares. Jefferies Financial Group raised their target price on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Wolfe Research downgraded WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Bank of America upped their target price on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Citigroup lowered shares of WEX from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Finally, Robert W. Baird reduced their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, WEX currently has an average rating of “Moderate Buy” and an average target price of $219.55.

WEX Trading Up 0.4 %

WEX opened at $184.40 on Tuesday. The company has a fifty day moving average price of $178.81 and a two-hundred day moving average price of $186.19. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04. The company has a market cap of $7.34 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 1.23 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87.

WEX (NYSE:WEX) last issued its earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The business had revenue of $665.50 million during the quarter, compared to analyst estimates of $688.03 million. During the same period in the previous year, the company posted $3.44 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Analysts predict that WEX Inc. will post 13.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Robert Joseph Deshaies sold 175 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the sale, the chief operating officer now directly owns 7,582 shares of the company’s stock, valued at $1,436,334.08. The trade was a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by company insiders.

About WEX

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.