WEX Inc. (NYSE:WEX) Holdings Raised by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC increased its holdings in WEX Inc. (NYSE:WEX) by 8.7% in the 4th quarter, Holdings Channel reports. The fund owned 3,278 shares of the business services provider’s stock after purchasing an additional 263 shares during the period. Cornerstone Investment Partners LLC’s holdings in WEX were worth $638,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of WEX. FinTrust Capital Advisors LLC purchased a new stake in WEX in the 4th quarter worth about $25,000. VisionPoint Advisory Group LLC lifted its stake in WEX by 74.7% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after acquiring an additional 62 shares in the last quarter. Fred Alger Management LLC purchased a new stake in WEX in the 3rd quarter worth about $34,000. International Assets Investment Management LLC purchased a new stake in WEX in the 3rd quarter worth about $37,000. Finally, State of Wyoming purchased a new stake in WEX in the 2nd quarter worth about $38,000. 97.47% of the stock is owned by hedge funds and other institutional investors.

WEX Stock Performance

WEX traded down $0.23 during midday trading on Friday, reaching $229.67. The company’s stock had a trading volume of 99,473 shares, compared to its average volume of 295,275. The stock 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 company has a fifty day simple moving average of $229.30 and a 200 day simple moving average of $202.01. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 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 during the quarter, compared to the consensus estimate of $656.75 million. Research analysts expect that WEX Inc. will post 13.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the completion of the transaction, the chief financial officer now owns 5,528 shares in the company, valued at approximately $1,289,350.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the completion of the transaction, the chief financial officer now owns 5,528 shares in the company, valued at approximately $1,289,350.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Robert Joseph Deshaies sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $221.85, for a total value of $332,775.00. Following the transaction, the chief operating officer now owns 5,570 shares of the company’s stock, valued at approximately $1,235,704.50. 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.

Analyst Ratings Changes

WEX has been the subject of several research analyst reports. William Blair reissued an “outperform” rating on shares of WEX in a research note on Thursday, February 8th. StockNews.com lowered WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. TheStreet raised WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Robert W. Baird upped their target price on WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Jefferies Financial Group upped their target price on WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, WEX has an average rating of “Moderate Buy” and an average price target of $240.00.

WEX Company 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.