1,414 Shares in WEX Inc. (NYSE:WEX) Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC bought a new position in shares of WEX Inc. (NYSE:WEX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,414 shares of the business services provider’s stock, valued at approximately $250,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC boosted its holdings in shares of WEX by 15.6% during the 4th quarter. CWM LLC now owns 377 shares of the business services provider’s stock worth $73,000 after buying an additional 51 shares during the period. Los Angeles Capital Management LLC boosted its holdings in WEX by 4.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,733 shares of the business services provider’s stock valued at $337,000 after purchasing an additional 72 shares during the period. Cozad Asset Management Inc. boosted its holdings in WEX by 2.1% in the 1st quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider’s stock valued at $1,148,000 after purchasing an additional 100 shares during the period. Rise Advisors LLC bought a new stake in WEX in the 1st quarter valued at about $29,000. Finally, Covestor Ltd boosted its holdings in WEX by 233.9% in the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 131 shares during the period. Institutional investors own 97.47% of the company’s stock.

Analysts Set New Price Targets

WEX has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. William Blair upgraded shares of WEX to a “strong-buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. dropped their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Keefe, Bruyette & Woods dropped their target price on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $239.58.

WEX Price Performance

WEX stock traded up $0.38 during trading on Thursday, reaching $181.85. 7,116 shares of the company were exchanged, compared to its average volume of 333,729. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 1.06 and a beta of 1.54. The company has a 50-day moving average of $177.62 and a two-hundred day moving average of $202.59.

WEX (NYSE:WEX) last posted its earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.09. WEX had a net margin of 9.32% and a return on equity of 31.05%. The firm had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. As a group, equities analysts predict that WEX Inc. will post 13.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WEX news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the sale, the insider now directly owns 5,584 shares of the company’s stock, valued at approximately $964,524.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Melanie J. Tinto sold 1,564 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total transaction of $289,402.56. Following the transaction, the insider now directly owns 8,461 shares of the company’s stock, valued at $1,565,623.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ann Elena Drew sold 1,182 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the transaction, the insider now owns 5,584 shares in the company, valued at approximately $964,524.32. The disclosure for this sale can be found here. Insiders have sold 3,826 shares of company stock valued at $693,369 in the last ninety days. 1.10% of the stock is currently owned by 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.