Rehmann Capital Advisory Group Invests $251,000 in WEX Inc. (NYSE:WEX)

Rehmann Capital Advisory Group purchased a new stake in WEX Inc. (NYSE:WEX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,196 shares of the business services provider’s stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WEX. Venturi Wealth Management LLC boosted its stake in shares of WEX by 206.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. International Assets Investment Management LLC bought a new position in WEX in the second quarter valued at approximately $33,000. Quarry LP grew its holdings in WEX by 717.4% during the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after acquiring an additional 165 shares during the period. Blue Trust Inc. raised its position in shares of WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 187 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of WEX by 47.3% in the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 89 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction on Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

WEX Trading Down 1.1 %

Shares of NYSE:WEX opened at $176.20 on Friday. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.41 and a beta of 1.57. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX Inc. has a 12 month low of $165.51 and a 12 month high of $244.04. The company’s fifty day simple moving average is $189.33 and its 200 day simple moving average is $186.49.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.44 earnings per share. As a group, research analysts forecast that WEX Inc. will post 13.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Bank of America upped their price target on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group lifted their price objective on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Robert W. Baird lowered their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Company reduced their price target on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

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.