Algert Global LLC Increases Stake in WEX Inc. (NYSE:WEX)

Algert Global LLC raised its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 198.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,002 shares of the business services provider's stock after purchasing an additional 16,622 shares during the quarter. Algert Global LLC owned 0.06% of WEX worth $4,383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Barclays PLC increased its position in shares of WEX by 38.4% during the 3rd quarter. Barclays PLC now owns 21,535 shares of the business services provider's stock valued at $4,516,000 after purchasing an additional 5,972 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in WEX during the third quarter valued at $35,000. Fifth Third Wealth Advisors LLC raised its stake in shares of WEX by 265.1% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,280 shares of the business services provider's stock valued at $926,000 after acquiring an additional 3,834 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of WEX in the 4th quarter worth about $1,168,000. Finally, Radnor Capital Management LLC purchased a new position in shares of WEX during the 4th quarter worth about $331,000. 97.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Robert W. Baird set a $186.00 price objective on WEX in a report on Tuesday, February 18th. Bank of America lowered WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Jefferies Financial Group boosted their target price on shares of WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, January 22nd. Finally, UBS Group dropped their price target on WEX from $172.00 to $138.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $182.40.

WEX Stock Performance

Shares of WEX traded up $5.86 during trading hours on Monday, reaching $132.77. 86,326 shares of the company traded hands, compared to its average volume of 558,635. The stock has a market capitalization of $4.55 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.06 and a beta of 1.26. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The business has a fifty day moving average price of $138.41 and a 200-day moving average price of $161.78. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.11. The business had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. WEX had a return on equity of 32.35% and a net margin of 11.78%. The company's revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.46 earnings per share. Equities analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal year.

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.