Smartleaf Asset Management LLC Grows Stock Position in WEX Inc. (NYSE:WEX)

Smartleaf Asset Management LLC boosted its stake in WEX Inc. (NYSE:WEX) by 25.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 327 shares of the business services provider’s stock after acquiring an additional 66 shares during the quarter. Smartleaf Asset Management LLC’s holdings in WEX were worth $56,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Commerce Bank boosted its stake in shares of WEX by 1.7% during the 3rd quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock valued at $760,000 after buying an additional 60 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of WEX by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock valued at $225,000 after buying an additional 65 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of WEX by 0.6% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock valued at $1,959,000 after buying an additional 70 shares during the last quarter. Covestor Ltd boosted its stake in shares of WEX by 47.3% during the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after buying an additional 89 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

WEX has been the subject of several research analyst reports. William Blair reiterated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Barclays reduced their target price on WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Mizuho dropped their price target on WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Jefferies Financial Group upped their price target on WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Finally, Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, WEX has a consensus rating of “Hold” and an average price target of $195.73.

WEX Price Performance

Shares of NYSE WEX opened at $156.48 on Tuesday. WEX Inc. has a fifty-two week low of $146.03 and a fifty-two week high of $244.04. The firm’s 50-day simple moving average is $168.83 and its 200 day simple moving average is $182.71. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The stock has a market cap of $6.07 billion, a P/E ratio of 20.86, a P/E/G ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Equities analysts expect 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.