Oak Ridge Investments LLC Has $2.74 Million Position in WEX Inc. (NYSE:WEX)

Oak Ridge Investments LLC trimmed its holdings in shares of WEX Inc. (NYSE:WEX) by 3.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 15,653 shares of the business services provider’s stock after selling 535 shares during the quarter. Oak Ridge Investments LLC’s holdings in WEX were worth $2,744,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. J2 Capital Management Inc bought a new stake in shares of WEX during the fourth quarter worth $296,000. Trust Co. of Vermont boosted its stake in WEX by 239.9% in the 4th quarter. Trust Co. of Vermont now owns 1,424 shares of the business services provider’s stock worth $250,000 after purchasing an additional 1,005 shares during the period. Merit Financial Group LLC acquired a new stake in shares of WEX in the 4th quarter valued at about $200,000. Empirical Asset Management LLC bought a new stake in shares of WEX in the fourth quarter valued at about $399,000. Finally, Eagle Rock Investment Company LLC acquired a new position in shares of WEX during the fourth quarter worth about $918,000. 97.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Robert Joseph Deshaies sold 175 shares of the company’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 owns 7,582 shares of the company’s stock, valued at $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

WEX Trading Up 0.4 %

WEX stock opened at $184.40 on Friday. WEX Inc. has a 52 week low of $165.51 and a 52 week high of $244.04. The company has a market capitalization of $7.34 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.23 and a beta of 1.58. The company’s 50-day simple moving average is $178.78 and its 200 day simple moving average is $186.07. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04.

WEX (NYSE:WEX) last announced its earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. During the same quarter in the prior year, the business posted $3.44 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that WEX Inc. will post 13.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WEX shares. Bank of America boosted their target price on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company reduced their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Jefferies Financial Group boosted their target price on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird lowered their price target on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods reduced their target price on WEX from $247.00 to $220.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $219.55.

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.