Westfield Capital Management Co. LP Acquires 36,906 Shares of WEX Inc. (NYSE:WEX)

Westfield Capital Management Co. LP raised its position in shares of WEX Inc. (NYSE:WEXFree Report) by 19.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 228,078 shares of the business services provider’s stock after purchasing an additional 36,906 shares during the quarter. Westfield Capital Management Co. LP owned 0.53% of WEX worth $44,373,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. California Public Employees Retirement System grew its stake in shares of WEX by 1.0% during the 3rd quarter. California Public Employees Retirement System now owns 85,155 shares of the business services provider’s stock valued at $16,017,000 after purchasing an additional 872 shares during the period. Signaturefd LLC raised its holdings in WEX by 131.4% during the third quarter. Signaturefd LLC now owns 516 shares of the business services provider’s stock valued at $97,000 after acquiring an additional 293 shares during the period. Victory Capital Management Inc. lifted its position in shares of WEX by 2.5% in the third quarter. Victory Capital Management Inc. now owns 7,742 shares of the business services provider’s stock valued at $1,456,000 after acquiring an additional 186 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of WEX in the third quarter worth about $22,115,000. Finally, HM Payson & Co. grew its holdings in WEX by 313.3% during the 3rd quarter. HM Payson & Co. now owns 132,080 shares of the business services provider’s stock valued at $24,843,000 after buying an additional 100,120 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Jefferies Financial Group raised their price target on WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Citigroup lifted their price objective on shares of WEX from $240.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. TheStreet raised WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Finally, Evercore ISI upped their target price on WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $240.00.

Check Out Our Latest Stock Analysis on WEX

WEX Trading Down 0.4 %

Shares of NYSE WEX traded down $0.81 during mid-day trading on Friday, reaching $187.76. 334,746 shares of the company’s stock were exchanged, compared to its average volume of 363,222. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.09 and a beta of 1.60. The company’s 50-day moving average is $222.27 and its 200-day moving average is $207.00. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04.

WEX (NYSE:WEXGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.15. The business had revenue of $652.70 million for the quarter, compared to the consensus estimate of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. Analysts expect that WEX Inc. will post 13.98 EPS for the current fiscal year.

Insider Transactions at WEX

In related news, COO Robert Joseph Deshaies sold 1,897 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.01, for a total value of $400,285.97. Following the sale, the chief operating officer now owns 9,408 shares in the company, valued at approximately $1,985,182.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other WEX news, COO Robert Joseph Deshaies sold 1,897 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $211.01, for a total value of $400,285.97. Following the completion of the transaction, the chief operating officer now owns 9,408 shares of the company’s stock, valued at approximately $1,985,182.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jagtar Narula sold 1,725 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $221.07, for a total value of $381,345.75. Following the sale, the chief financial officer now directly owns 1,759 shares in the company, valued at approximately $388,862.13. The disclosure for this sale can be found here. Insiders sold a total of 5,865 shares of company stock worth $1,262,019 over the last ninety days. Company insiders own 1.10% of the company’s stock.

WEX Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for WEX (NYSE:WEX)

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