WEX Inc. (NYSE:WEX) Shares Bought by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC raised its holdings in WEX Inc. (NYSE:WEX) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,278 shares of the business services provider’s stock after acquiring an additional 263 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in WEX were worth $638,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in WEX by 3.2% in the first quarter. Vanguard Group Inc. now owns 4,196,239 shares of the business services provider’s stock valued at $748,819,000 after acquiring an additional 131,664 shares during the period. BlackRock Inc. raised its stake in shares of WEX by 1.2% during the 1st quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock worth $732,950,000 after buying an additional 49,480 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of WEX by 4.2% during the 1st quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider’s stock worth $731,925,000 after buying an additional 164,902 shares during the last quarter. Morgan Stanley raised its stake in shares of WEX by 342.4% during the 4th quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock worth $337,102,000 after buying an additional 1,594,294 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of WEX by 3.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,336,884 shares of the business services provider’s stock worth $245,840,000 after buying an additional 39,312 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on WEX shares. StockNews.com downgraded WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Citigroup lifted their price target on WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. William Blair reissued an “outperform” rating on shares of WEX in a research note on Thursday, February 8th. Finally, Barclays boosted their target price on shares of WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

WEX Trading Down 0.1 %

WEX traded down $0.23 during midday trading on Friday, hitting $229.67. The company’s stock had a trading volume of 99,473 shares, compared to its average volume of 295,275. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. The firm has a market cap of $9.59 billion, a P/E ratio of 37.31, a PEG ratio of 1.49 and a beta of 1.59. The firm has a 50-day moving average price of $229.30 and a two-hundred day moving average price of $202.01. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04.

WEX (NYSE:WEX) last issued its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a return on equity of 31.33% and a net margin of 10.46%. The firm had revenue of $663.30 million for the quarter, compared to analysts’ expectations of $656.75 million. On average, research analysts anticipate that WEX Inc. will post 13.55 earnings per share for the current year.

Insider Transactions at WEX

In other news, CEO Melissa D. Smith sold 41,107 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the completion of the sale, the chief executive officer now owns 81,998 shares in the company, valued at approximately $16,809,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Melissa D. Smith sold 41,107 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the completion of the sale, the chief executive officer now owns 81,998 shares in the company, valued at approximately $16,809,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sara Trickett sold 887 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,433 shares of company stock worth $14,708,896. 1.10% of the stock is currently owned by company insiders.

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.